Why is The Crypto Market Down Today?

The total crypto market cap (TOTAL) and Bitcoin (BTC) took a hit as the new week began, with the latter falling to $113,500. Lido DAO (LDO) took the lead among the altcoins as it fell by 7% over the last 24 hours.

In the news today:-

• Analyst Marty Party accused Binance of colluding with market maker Wintermute to suppress Solana’s growth and protect BNB, alleging manipulation despite Binance’s proof of reserves showing no SOL beyond customer deposits. The claim has reignited controversy over Binance’s influence on the crypto market.
• A leaked NDA, allegedly shared by a former Swiss banker, suggests Ripple may be expanding its XRP Ledger use beyond payments into digital identity, compliance, and tokenized finance. The document hints at interoperability across CBDCs, securities, and fiat via XRP as a bridge asset.

The Crypto Market Falls Back To Support

The total crypto market cap fell by $42 billion in the last 24 hours, highlighting increased investor caution. The sharp drop followed an intra-day loss of nearly $98 billion, briefly pushing the market to multi-week lows. Although the market showed signs of recovery, sentiment remains fragile across key digital assets.

This weekend’s downturn stems largely from persistent uncertainty in macroeconomic trends and regulatory pressures. With declining risk appetite, TOTAL could retreat to $3.81 trillion if bearish sentiment intensifies.

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Total Crypto Market Cap Analysis. Source: TradingView

However, a sustained rebound from the $3.89 trillion support level may fuel renewed momentum. If TOTAL holds this zone, it could break past the $3.94 trillion barrier and test $4.01 trillion.

Bitcoin Failed Recovery

Bitcoin is trading at $113,515, struggling to gain upward momentum. The $112,526 support level has held firm despite repeated tests, making it a crucial level for BTC. 

Technical indicators reinforce caution. The Relative Strength Index (RSI) is currently below the 50.0 threshold, suggesting continued bearish momentum. If sellers regain control, Bitcoin could slip toward $110,000. 

Bitcoin Price Analysis. Source: TradingView

Nevertheless, if Bitcoin holds above $112,526 and flips $115,000 into support, bullish confidence may return. A breakout above this range could pave the way toward $117,261.

Lido DAO Couldn’t Breach Key Barrier

Lido DAO (LDO) dropped 7% in the last 24 hours, now trading at $1.42. The decline followed a failed attempt to break the $1.56 resistance. This price level has become a strong ceiling, limiting bullish momentum and keeping the altcoin under pressure.

This marks the second rejection at $1.56 within a month, casting doubt on LDO’s short-term recovery prospects. If bearish sentiment persists, the price could fall to $1.32. 

LDO Price Analysis. Source: TradingView

A sudden bullish turn across the crypto market could change the narrative. If LDO breaks above $1.56 and establishes it as support, it may climb to $1.82. Such a move would invalidate the bearish thesis.