What Happened in Crypto Today? Key Events Shaping the Market

What Happened in Crypto Today? The Global Market Situation

What Happened in Crypto Today? The total market cap is currently down by 1,44% in 24 hours  currently at $2.85T in the last 24 hours. The overall trading volume has also been down by 0.41% currently standing at $75.91 billion. In the DeFi space, we’re seeing $5.85 billion in trading volume, making up 7.71% of the total. Stablecoins, as usual, dominate with $71.77 billion, accounting for 94.54% of the total market volume. Bitcoin’s dominance is at 60.72%, slightly up by 0.24% from yesterday.

Bitcoin Takes a Hit

Bitcoin, the biggest player in the game, is struggling today. It’s currently trading at $87,102.30, which is down 1.29% from yesterday. The market cap also dropped by 1.16% to $1.72 trillion. Just yesterday, BTC was on a strong upward trend, and many thought it might test the $100K barrier again. But today, it fell to a low of $85,929.59 before recovering a bit. A lot of this uncertainty is tied to upcoming global economic decisions, like Trump’s announcements as per speculations about tariffs on April 2, world liberation day. Many investors are being extra cautious, making it hard for Bitcoin to regain momentum.

GameStop Big Bitcoin Move

GameStop made headlines by announcing a $1.3 billion investment into Bitcoin through convertible debt. This move follows what companies like MicroStrategy have done—using debt to accumulate more Bitcoin. Their CEO, Ryan Cohen, even hinted at this move last month by posting a picture with Michael Saylor, the CEO of MicroStrategy. After the news broke, GME stock jumped 10%, and meme coins like DOGE, SHIB, PEPE, and FLOKI also saw some gains. This investment strategy might keep Bitcoin crypto price from falling too sharply, but the market’s reaction remains mixed.

The JELLY Coin Drama

The JELLY memecoin chaos unfolded as a whale exploited Hyperliquid’s system, pocketing $6.26 million while still holding 10% of JELLY’s supply. Hyperliquid responded by freezing and JELLY coin delisting perpetual futures, citing “suspicious market activity.” Despite this, the whale continues offloading tokens, highlighting the volatility and risks tied to memecoins. Bitget CEO Gracy Chen even compared the situation to “FTX 2.0,” criticizing Hyperliquid’s centralized decision-making. This is just another reminder that meme coins can be risky—without strong fundamentals, they often crash hard.

XRP’s Rollercoaster Ride

Wondering why xrp is down today? XRP crypto is having a rough time. Right now, it’s trading at $2.36, down 4.25% today and 4.49% over the past week. This drop comes despite some big legal news—Ripple and the SEC have finally settled their case, with Ripple agreeing to pay $50 million of its original $125 million penalty. While some expected this news to boost XRP crypto price, investors seem hesitant. On the bright side, there’s speculation about an XRP ETF approval in 2025, which could bring in long-term gains. But for now, short-term traders remain cautious.

Fear & Greed Index: What’s Next?

Currently, the Crypto Fear & Greed Index rests at 40 which signals that investors are feeling very fearful at this time. Actually, I understand it pretty well. Bitcoin dips, legal uncertainties surrounding charges brought against XRP, and the JELLY crypto exploit, all serve to make this market nervous. Yet very often history teaches us that when fear sets in, opportunity usually presents itself. If you're in the market, then it would be interesting to see what turns unroll with the next few days.