Crypto Markets Today: BTC Price Slips, XPL, ENA Slide as AI Spending Concerns Hit U.S. Equities

Cryptocurrency prices fell in the last 24 hours, with the CoinDesk 20 Index dropping 1.7% as a sell-off in U.S. equities raised concerns about excessive AI spending after Meta and Microsoft increased their investment projections. Bitcoin (BTC) decreased 0.2% to nearly $110,000, while Ethereum (ETH) fell 1.3%. The altcoin market performed poorly as well, with various tokens, including doublezero, plasma, and gate token, witnessing declines of 15% to 21%. Contrary to this trend, Zcash recorded gains earlier in the week. The overall altcoin market remains under pressure as it approaches critical support levels, particularly around Ethereum's $3,700 mark. Furthermore, Bitcoin's futures market is showing signs of consolidation with diminished funding rates, while there's isolated bullish demand on specific platforms. Liquidations reached about $879 million in the last 24 hours, predominantly affecting long positions. Overall, the market sentiment is leaning bearish as traders speculate on potential price movements.

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