The cryptocurrency market remains turbulent as Bitcoin (BTC) struggles to hold ground at $85K, while major altcoins, including Ethereum (ETH), XRP, and Solana (SOL), continue to face instability. The global crypto market lost approximately 1%, bringing the total market capitalization down to $2.82 trillion. Additionally, trading volume saw a significant drop of 9.5%, indicating increased investor hesitancy.

Despite recent pro-crypto developments, including a Bitcoin reserve announcement in the U.S. and a crypto summit led by former President Donald Trump, market momentum remains sluggish. BTC recorded a 2% decline, fluctuating between $85,247 and $91,070 throughout the day. This downward movement resulted in liquidations exceeding $298.7 million, with Bitcoin’s market dominance slightly slipping to 60.27%.

Ethereum (ETH) also experienced a minor 0.5% decline, closing at $2,1147 after hitting an intraday low of $2,107.73 and a high of $2,254.23. Liquidations in ETH amounted to $57.14 million, though its dominance in the market remained steady at 9.1%.

XRP faced a more significant loss of 5%, trading at $2.36. The coin saw a daily low of $2.33 and a peak of $2.56, while recording liquidations worth $18.96 million. Meanwhile, large transactions by Ripple whales, moving 180 million XRP, fueled speculation about potential market shifts.

Solana (SOL) followed suit, slipping by 1% to trade at $140.24. Its daily range extended from $137.87 to $150.02, with total liquidations reaching $18.02 million.

The meme coin sector also turned red, with Dogecoin (DOGE) hovering at $0.1982 and Shiba Inu (SHIB) dipping 1% to rest at $0.00001306. Despite SHIB’s drop, its burn rate surged intraday, drawing attention from market participants. In contrast, Pepe Coin (PEPE) defied the broader market trend, registering a 3% gain to reach $0.000006931.

Among the standout performers, Ethena (ENA) surged 17%, reaching $0.4388, leading the list of top gainers. Litecoin (LTC) and Decentraland (MANA) followed with 5% gains each, trading at $106.15 and $0.2921, respectively.

On the flip side, Kaspa (KAS) led the list of top losers, shedding 8% to trade at $0.06757. Quant (QNT) and Jito (JTO) also witnessed declines of 7%, trading at $76.82 and $2.48, respectively.

Despite promising developments, the crypto market remains uncertain. While a strategic Bitcoin reserve and other advancements provide optimism, market volatility continues to dominate. Investors are keeping a close watch on the next movements, hoping for a steadier trajectory in the coming days.