The digital asset market has experienced a widespread retreat during the last trading day, recording a 3.4% drop in the performance of leading assets that make up the sector’s benchmark basket. According to recent financial reports, none of the twenty monitored cryptocurrencies managed to stay in positive territory, placing the index value at 1968.37 points.
Selling pressure intensified since Monday afternoon, causing major projects such as Ethereum and Aptos to lead the losses. While the criptocurreny of the Ethereum network suffered a 5.4% decrease, the APT token led the bearish sentiment with a 5.5% retreat, evidencing a significant lack of immediate buying support.
On the other hand, even the assets that showed the greatest resilience could not escape the red numbers, recording moderate falls compared to the rest. Among them, Cronos and Bitcoin Cash positioned themselves as the temporary “leaders” of the day, reporting decreases of 1.1% and 2.1% respectively, which reflects structural weakness in the short term.
What impact does the Ethereum drop have on the general index?
This negative trend occurs at a time of macroeconomic uncertainty, where volatility seems to have taken a toll on layer 1 protocols. Therefore, the performance of leading assets has been significantly weighed down, affecting not only retail investors but also the investment vehicles that replicate these global indices.
Likewise, it is important to highlight that the joint fall of the twenty most liquid assets in the ecosystem suggests extreme correlation in the last few hours. This situation, in which laggards exceed the percentage drop of market leaders, often precedes portfolio reassessment phases, where participants seek refuge in less volatile assets or stable positions.
Looking toward the close of the session, traders’ attention remains fixed on the psychological support levels of the largest capitalization assets. While the current correction represents a challenge, many analysts believe these fluctuations are typical of a market in a consolidation process, waiting for new catalysts that might drive higher trading volume.
