Bitcoin (BTC), Dogecoin (DOGE), Cardano (ADA), and Solana (SOL) Prices Drop More Than 5%

Major cryptocurrencies, including Bitcoin (BTC), Dogecoin (DOGE), Cardano (ADA), and Solana (SOL), dropped more than 5% in the past 24 hours

Major cryptocurrencies dropped more than 5% in the past 24 hours as traders moved to secure gains following a robust week-long rally that was fueled by macroeconomic optimism and pushed Bitcoin close to the $105,000 level.

The broader digital asset market, which had surged in tandem with global equities, showed signs of a potential pause as investors adjusted positions ahead of key events, including Coinbase’s inclusion in the S&P 500 on May 19.

This development is expected to drive significant passive fund flows into the cryptocurrency exchange giant’s stock, with some analysts estimating demand could exceed $9 billion.

The cryptocurrency market is down today, the heat map shows. Source: CoinMarketCap.com

Here are today’s crypto price movements:

Bitcoin (BTC) slid 1.92% over the past 24 hours to $101,726.19.

World’s second-largest cryptocurrency, Ethereum (ETH), dropped 2.48% to $2,531.68.

Among other major tokens, Solana slid 5.58% to $169.38, Cardano dropped 6.10% to $0.7640, and Dogecoin fell 5.03% to $0.2232, according to price data from CoinMarketCap.

The Crypto Fear & Greed Index, a gauge of market sentiment, climbed to 74 yesterday, signaling potential overbought conditions.

Crypto Fear & Greed Index. Source: CoinMarketCap.com

Insiders Focused On Mid-Caps BTC Accumulation

The cryptocurrency market’s recent surge was part of a broader upswing in risk assets, spurred by positive economic signals. U.S. inflation data released earlier this week came in below forecasts, raising expectations for continued monetary policy support, while China’s tech sector reported robust earnings, fueled by optimism over renewed U.S.-China trade relations.

These developments pushed Bitcoin to a high of $104,000 and Etherum to $2,700 before both encountered resistance.

Despite the current dip, institutional interest in cryptocurrencies remains strong. Data from Santiment, a blockchain analytics firm, showed that mid-sized Bitcoin holders, wallets holding between 10 and 10,000 BTC, accumulated over 83,000 BTC in the past month, signaling confidence in the asset’s long-term value.

“In the current environment, price moves of up to 10% are well within normal volatility, and anything below 5% can often be considered just market noise,” Dr Kirill Kretov at CoinPanel, commented for FinanceMagnates.com

“Some of this movement likely comes from profit-taking, as traders secure gains after the recent rally. And with liquidity so thin, even modest sell-offs can quickly translate into noticeable corrections. This is typical behavior in a fragile market structure, where price reacts more to positioning flows than to fundamental developments.”

Coinbase (NASDAQ:COIN) S&P 500 inclusion, scheduled for May 19, is also in focus. This milestone event for the cryptocurrency industry is expected to drive significant passive fund flows into the exchange giant’s stock, with some analysts estimating demand could exceed $9 billion.

The inclusion of a major cryptocurrency exchange in one of the world’s most followed equity indices represents a significant step toward mainstream acceptance of the digital asset industry and could potentially attract new institutional capital to the sector.