Top Cryptocurrencies Fall; Bitcoin Drops Below $80,000

MT Newswires Live05-16 03:59

Top cryptocurrencies fell Friday, with Bitcoin (BTC-USD) falling below the $80,000 level.

The CoinDesk Market Index, which tracks dozens of digital assets including Bitcoin, fell almost 3.9% in the past 24 hours. The Nasdaq fell 1.6%, the S&P 500 declined 1.3%, and the Dow Jones Industrial Average fell 1%.

Bitcoin fell 2.8% to $79,121, according to CoinMarketCap data. The most popular cryptocurrency's 24-hour trading volume fell 10.6% to $38.68 billion.

Ethereum (ETH-USD), the second-largest digital asset by market value, fell 3.3% to $2,222.

XRP (XRP-USD) dropped 5.3%, BNB (BNB-USD) dipped 0.8%, and Solana (SOL-USD) fell 3.7%. Dogecoin (DOGE-USD) shed 2.7%, and Cardano (ADA-USD) lost 4.7%.

The US 10-year Treasury yield stood at 4.594% at 3 p.m. ET Friday, up from 4.459% Thursday, while the five-year yield rose to 4.256% from 4.119%.

The total market value of the cryptocurrency industry fell 2.7% in the past 24 hours to $2.63 trillion, with trading volume declining 2.9% to $160.42 billion.

Price: 79097.26, Change: -1972.28, Percent Change: -2.43

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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