Dogecoin sinks 5% to lead majors losses, with bitcoin holding $78,000 level
Cryptocurrencies like Dogecoin and Bitcoin are experiencing market volatility amid broader economic concerns, including rising oil prices and U.S. Treasury yields. Investors are closely watching upcoming CPI data to gauge future Federal Reserve interest rate decisions.
Why it matters
The interplay between crypto market performance, global commodity prices, and central bank policy significantly impacts investor sentiment and macroeconomic stability.
Dogecoin was the worst of them, down more than 5%, followed by BNB at about 4% and XRP at 3%. Solana, hyperliquid's HYPE and ether each shed between 1% and 3%, leaving ether just under $2,475 and solana near $102. Tron was the only gainer, up less than 1% to about 34 cents, according to CoinDesk data.
Bitcoin's 50-day average price crossed above its 200-day average on Tuesday.
FxPro analysts said a similar crossover in October 2024 and May 2025 produced nothing, but that this one follows a prolonged bull market rather than appearing inside a correction.
"The current situation bears a closer resemblance to what we saw in 2019," they wrote, pointing to a 90% rally in under two months after that signal.
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