Crypto Market Declines as Profit-Taking Hits Top Assets

The cryptocurrency market saw a decline in top digital assets on Tuesday, led by Bitcoin (BTC), Ethereum (ETH), and Ripple's XRP. Total market capitalization fell by 3.14% to $2.68 trillion, with trading volume dropping significantly over the last 24 hours to about $120 million.

Bitcoin briefly reached $81,000 on Tuesday after breaking above $80,000, erasing roughly three months of prior losses and marking a strong weekly advance. Ethereum's price declined by 2% to $2,430, while XRP fell to $1.43 from its earlier high of $1.52.

The decline in digital assets was linked to profit-taking in the market after investors rotated into hard assets like gold and Bitcoin following the US Treasury's announcement that it would at least double long-dated bond buybacks from 2 billion to 4 billion dollars per operation.