Bitcoin today: BTC, Ethereum, and XRP decline, and the cryptocurrency market falls below US$ 3 trillion

Source: PortaldoBitcoin Original Title: Bitcoin today: BTC, Ethereum, and XRP decline as cryptocurrency market falls below US$ 3 trillion Original Link: https://portaldobitcoin.uol.com.br/bitcoin-hoje-btc-ethereum-e-xrp-recuam-e-mercado-de-criptomoedas-cai-abaixo-de-us-3-tri/ Bitcoin and the main cryptocurrencies declined this Wednesday (24), with the total cryptocurrency market value dropping 1.4%, to US$ 2.97 trillion, returning below the US$ 3 trillion level after another failed attempt to sustain a recovery.

Around 7:30 a.m., Bitcoin was traded at US$ 87,050, down 0.5%, in a day expected to have lower volume as investors celebrate Christmas. In reais, the cryptocurrency is traded at R$ 482,808.

Ethereum also fell 1.1%, to approximately US$ 2,932, with XRP following a similar movement, declining 1.3%. Solana and Dogecoin recorded larger losses, each dropping about 2%.

The correction occurs even as some stock indices hit new highs, reinforcing the feeling that capital is shifting toward safety. Global stocks reached another record, with investors reacting positively to strong growth in the US, which reinforced the outlook for more robust corporate profits.

Alex Kuptsikevich, chief market analyst at FxPro, states that the market is showing signs of increased control by sellers, with repeated recoveries failing to hold. “The market couldn’t replicate the strong rebound from the local low, indicating increased selling pressure,” Kuptsikevich said.

He added that, as cryptocurrencies remain distant from recent highs, large investors are increasingly behaving as if the market is entering a bear market, preferring moderate sales over sharp movements driven by individual investors.

Kuptsikevich also pointed to the broader risk scenario. Bitcoin experienced waves of selling again after briefly surpassing US$ 90,000 earlier this week, despite strong gains in gold and other precious metals and the dollar’s devaluation.

This combination, he suggests, indicates that investors are reassessing their risk appetite and that risk aversion could spread further. “In the coming weeks, we can expect an even sharper decline in cryptocurrencies, as well as the spread of risk aversion to stocks and currencies of developing countries,” he said.