Bitcoin drops to $77,267 as profit-taking lowers prices from $78,000 peak
Bitcoin fell back to the $77,000 zone after a two-day high near $78,000 due to heavy selling and leveraged positions. Market capitalization increased slightly over 24 hours despite the correction.
Bitcoin traded at $77,267 as profit-taking reduced prices from a recent peak near $78,000. Over the past 24 hours, the cryptocurrency rose 0.1% to that level, while Ethereum gained 2.1% and reached $2,521. The global market capitalization for cryptocurrencies increased by 0.4% to $2.73 trillion during the same period. WazirX founder Nischal Shetty noted that markets remain in a greedy zone because Bitcoin stays above its 200-week moving average, even though sticky inflation limits Federal Reserve easing options and raises expectations for a rate hike next week. Technically, the asset sits just above $76,000 support, with $75,500 as a critical defensive level. Ethereum supports at $2,400 to $2,425 but faces resistance between $2,500 and $2,525. Over the last week, Bitcoin declined 2.9% while Ethereum advanced 2.8%. Altcoins showed mixed performance; BNB and Tron climbed 1.2% and 2.5% respectively, whereas XRP, Solana, Hyperliquid, Dogecoin, and Cardano fell up to 6.4%. Delta Exchange analyst Riya Sehgal observed sharp two-way movements in crypto markets during the period.
