Crypto Market Slips as Risk-Off Fears Return: Bitcoin Slides to $91K, Altcoins Bleed

The cryptocurrency market woke up on Tuesday morning (UTC) under pressure, with red dominating screens across nearly the entire digital asset landscape. Total crypto market capitalisation slipped 1.6% in the past 24 hours, settling at $3.17 trillion, while global trading volume reached $105 billion.

Out of the top 100 cryptocurrencies, a staggering 85 posted losses, including every single coin in the top 10. The message from the market is clear: caution is back, and optimism is wobbling.

Bitcoin (BTC), the market’s bellwether, dropped 1.6% to trade around $91,020, continuing a choppy, sideways pattern that has frustrated bulls. Ethereum (ETH) fared worse, sliding 2.5% to $3,117, marking the steepest decline among the top 10.

Other major names followed suit:

While the losses aren’t dramatic individually, their breadth signals a market-wide shift toward risk aversion.

Among the hardest-hit assets, Provenance Blockchain (HASH) topped the losers list, plunging 8.9% to $0.02567. Monero (XMR) followed closely, dropping 7.2% to trade at $588.

Yet, even on a gloomy day, a few outliers shined:

These gains, however, were the exception—not the rule—in a market overwhelmingly painted red.

Several forces appear to be converging:

As Mercuryo CEO Petr Kozyakov put it, “The pullback in digital assets suggests that optimism was on thin ice,” especially after derivatives markets saw multi-million-dollar liquidations.

Bitfinex analysts argue that a sustainable recovery won’t happen until maturing supply outweighs long-term holder (LTH) selling. While LTHs remain net sellers, the pace has slowed sharply—realised profits have dropped to about 12,800 BTC per week, far below cycle peaks.

Bitcoin is now entering a dense LTH supply zone between $93,000 and $110,000, a region where previous rallies stalled. Clearing this zone would require further easing of sell pressure, but if absorbed successfully, it could open the door to a stronger, longer-lasting rally—and potentially new all-time highs.

A recent surge in Ethereum network activity sparked curiosity, but not all of it appears to be organic. Security researchers suggest that address poisoning attacks may be inflating headline metrics.

“Address poisoning has become disproportionately attractive for attackers,” warned researcher Andrey Sergeenkov, cautioning that scaling without prioritising user safety can distort network data and investor perception.

Bitcoin (BTC):

A break below $90K could accelerate downside pressure, while a push above $95K may reignite bullish momentum.

Ethereum (ETH):

ETH remains range-bound, but a decisive move in either direction could set the tone for the broader altcoin market.

US markets were closed on Monday for Martin Luther King Jr. Day, leaving crypto spot ETFs temporarily quiet. Last Friday, BTC spot ETFs recorded $394.68 million in outflows, while ETH ETFs saw modest inflows of $4.64 million.

Meanwhile, the Crypto Fear & Greed Index dipped from 49 to 45, staying in neutral territory but clearly leaning toward caution as uncertainty around the US, Europe, and China grows.

The crypto market is once again flirting with a risk-off mood, weighed down by macro fears, geopolitical tension, and fragile sentiment. While long-term structural signals offer some hope, the near-term picture remains shaky.

For now, traders and investors alike are watching key price levels closely—because the next decisive move could define whether this pullback turns into an opportunity… or something deeper.