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

Cryptocurrency prices fell in the past 24 hours, with the CoinDesk 20 Index declining by 1.7%. Bitcoin (BTC) dropped 0.2% to just below $110,000, while Ethereum (ETH) decreased by 1.3%. A sell-off in U.S. equities, prompted by Meta and Microsoft raising their AI investment projections, contributed to the decline in token prices. In the altcoin sector, several tokens such as doublezero and plasma experienced losses between 15% to 21%. Conversely, Zcash continued to gain from earlier increases. Bitcoin futures showed mixed signals without clear trends, and funding rates remained stable albeit with some isolated bullish demand on platforms like Deribit. The altcoin market is particularly sensitive, with Ethereum needing to maintain support at $3,700 to avoid indicating potential weakness. This broader market sentiment and the pressure from equities reflect ongoing macroeconomic conditions affecting cryptocurrencies.

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