Crypto wrap: BTC slips below $85K, MANTRA (OM) top gainer

The cryptocurrency market remained subdued on Friday, struggling to sustain momentum despite a brief recovery earlier in the week.

Bitcoin struggled to hold above the $85,000 mark.

The global cryptocurrency market cap stands at $2.69 trillion, down 0.93% in the past 24 hours.

Total market volume over the same period fell 11.05% to $79.39 billion, reflecting a notable pullback in trading activity.

Bitcoin (BTC) price today

Bitcoin traded at $84,898.71, up around 1% in the past 24 hours.

The coin’s 24-hour trading range was between $83,743 and $86,429.35.

Bitcoin’s market dominance edged up 0.39% to 62.98%, as the asset held firmer than most altcoins during the latest market consolidation.

Bitcoin is demonstrating increased resilience to macroeconomic volatility relative to traditional financial markets, according to a report from crypto market maker Wintermute.

The report highlights that Bitcoin has withstood the latest market downturn better than equities and bonds, even as the S&P 500 and Nasdaq retreated to their lowest levels in a year and bond yields surged to highs last seen in 2007.

Wintermute pointed out that Bitcoin’s recent price retracement was comparatively mild, merely revisiting levels seen during the US election period.

Historically, Bitcoin tended to suffer outsized losses during episodes of financial market stress.

The current behaviour, the report noted, signals a “notable shift” — positioning Bitcoin as increasingly resilient amid macroeconomic headwinds and decoupling, to some extent, from risk-off moves in legacy markets.

Ethereum (ETH) price today

Ethereum was down around 1% to trade at $1,616.66.

The intraday low and high were $1,603.37 and $1,659, respectively.

As per Farside data, Ethereum spot ETFs recorded a total net outflow of $6 million on April 14.

The ETFs have now seen outflows for five straight sessions.

XRP and SOL price today

XRP inched up around 0.24%, trading at $2.13 after hitting an intraday low of $2.11 and a high of $2.18.

The price of XRP has staged a sharp rebound in recent days, rising from a low of $1.6270 to around $2.20.

According to market analyst EGRAG CRYPTO, there’s a growing case that XRP may have already established a bottom on April 7.

However, EGRAG emphasized that while the recent bounce is encouraging, confirmation of a sustained trend reversal will require a few critical technical milestones.

Solana price was up 0.6% to trade at $129.81.

Canada is set to roll out the world’s first spot Solana (SOL) exchange-traded funds on April 16, 2025, after securing approval from the Ontario Securities Commission.

In a notable departure from conventional crypto ETFs, these products will incorporate native SOL staking.

Top crypto gainers and losers

MANTRA (OM) delivered a standout performance, surging 47.58% in the past 24 hours to trade at $0.7964.

The sharp rally made it the best-performing cryptocurrency in the market for the day.

This comes after Mantra’s OM token suffered a dramatic 90% decline in value after a staggering $227 million worth of the token was moved to exchanges, triggering a sharp sell-off.

While the Mantra team attributes the collapse to broader market pressures and the forced closure of positions by centralized exchanges, speculation continues to swirl over the true cause of the token’s rapid depreciation.

Story (IP) followed with an impressive 20.31% gain, climbing to $4.14.

Raydium (RAY) also made it to the gainers’ list, advancing 7.82% to $2.14.

Toncoin (TON) registered a 5.05% increase over the past 24 hours, rising to $2.93.

Rounding off the gainers was Monero (XMR), which added 2.44% to trade at $216.41.

Pi (PI) led the losers, with an 8.76% drop over the past 24 hours to $0.6659.

XDC Network (XDC) slid 7.36% to $0.07097. Helium (HNT) declined 7.08% to $3.44.

JasmyCoin (JASMY) dropped 5.53% to $0.01537, though it managed a 0.56% gain in the past hour.

Flare (FLR) lost 5.35% to $0.01570.

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