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

Cryptocurrency prices fell over the past 24 hours, largely influenced by a sell-off in U.S. equities. Bitcoin dropped 0.2%, sliding just under $110,000, while Ether lost 1.3%. The CoinDesk 20 Index experienced a 1.7% decline across all its constituents, with several altcoins, including doublezero, plasma, and gate token, facing notable losses between 15% and 21%. Positive gains were noted for Zcash and the TRUMP memecoin, which jumped 35% in value as its parent company announced plans to acquire a fundraising platform. Additionally, the altcoin market's sustainability is currently dependent on Ether maintaining its support level at $3,700, as failing to uphold this could indicate a reversal trend, impacting the entire market. Derivatives market trends showed mixed signals with Bitcoin futures exhibiting no clear trajectory. Approximately $879 million in liquidations occurred, particularly impacting Bitcoin and Ether positions. Overall, concerns over AI investment overspending from tech giants like Meta and Microsoft have contributed to the bearish sentiment in the crypto market.

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