the Cryptocurrency market It lost more than $100 billion in value over the past 24 hours as investor sentiment weakened, negating the recent uptrend led by Bitcoin (Bitcoin).
At press time, total Crypto market The market capitalization was about $2.6 trillion, down from $2.7 trillion the day before, representing a decline of about $100 billion in a matter of hours.
The sell-off spread across major digital assets, with Bitcoin falling 3.24% to trade around $77,878 after briefly ranging between $77,860 and $80,733 over the past 24 hours. Ethereum (EthereumThe stock also recorded sharp losses, declining by 3.76% to about $2,170.
Among the biggest declines in the large cap market, Solana fell 5.97% to $85.75, making it one of the worst performing major cryptocurrencies during the session. BNB Bank The stock price fell 4.78% to $651.88 XRP It fell 4.65% to $1.40.
Why did the crypto market decline?
The latest contraction comes amid rising geopolitical tensions linked to the ongoing US-Iranian conflict. Recent reports indicate that President Donald Trump’s rejection of Iran’s peace proposal and stalling of ceasefire talks has increased uncertainty in global markets.
The tensions have pushed oil prices sharply higher, with energy costs rising 17.9% in April CPI data amid fears of supply disruptions linked to the Strait of Hormuz.
The uncertainty has pushed investors towards safer assets and away from riskier markets such as cryptocurrencies, with the crypto market’s recent 1.6% decline also linked to geopolitical headlines.
Macroeconomic pressures also weighed on the market after higher-than-expected US inflation data lowered expectations for a near-term interest rate cut from the Federal Reserve.
The April CPI reportedly rose 3.8% year-on-year, while producer price data remained elevated, boosting the US dollar and Treasury yields while pressuring risk assets such as Bitcoin, which briefly fell below $80,000.
Double wider across Stocks and technology Stocks, coupled with rising oil prices and liquidation, further dampened sentiment.
Meanwhile, market weakness also followed the recent shift in exchange-traded fund flows. For example, spot the United States Bitcoin ETFs Net outflows recorded $1 billion during the week ending May 15, their largest weekly recovery since late January.
The outflows also snapped the funds’ longest string of inflows since July 2025. The six-week inflows attracted nearly $3.4 billion in inflows, averaging about $568 million per week and helped fuel the crypto market’s spring rebound. April alone saw inflows of $1.97 billion, the strongest monthly total of 2026.
