Digital asset markets experienced a significant correction as major cryptocurrencies faced downward pressure. Bitcoin declined 3% to $99,800 while Ethereum dropped 4% to $3,210. Binance Coin retreated 1% to $933, and Solana fell 3% to $152. Despite the broader market weakness, several altcoins demonstrated impressive strength, with Filecoin surging 50%, Zcash gaining 20%, Internet Computer advancing 20%, and NEAR Protocol climbing 18%.
Publicly traded crypto companies mirrored the sector’s downturn, with MicroStrategy declining 7%, Coinbase falling 7.5%, Robinhood dropping 11%, and Iris Energy decreasing 11%. In political developments, former President Donald Trump reinforced his support for digital assets, describing America as a “Bitcoin superpower” while highlighting competitive pressures from China.
JPMorgan analysts projected Bitcoin’s fair value around $170,000 using gold-equivalent methodology. In corporate developments, Google revealed plans to incorporate prediction market data from Polymarket and Kalshi across its platforms. Tether executed its established treasury strategy by acquiring $97 million in Bitcoin during the market dip, maintaining its policy of allocating 15% of net profits toward BTC accumulation. Separately, Robinhood is evaluating potential Bitcoin additions to its corporate treasury, while Base ecosystem lead Jesse Pollack introduced new educational resources for developers.
