Crypto Market Pulls Back Amid Regulatory Risks and Traditional Market Shift

The global cryptocurrency market cap experienced a decline of 2.9% to $2.95 trillion over the past 24 hours, mirroring a broader risk-off shift in traditional markets. Bitcoin dipped 2.3% to $83,923 but remains up over 10% weekly. Ethereum also saw losses, slipping 2.5% to $2,674 despite being up 10.7% for the week.

Altcoins such as BNB, XRP, and SOL showed mixed daily losses but solid weekly gains, with BNB up 6.5%, XRP up 15.7%, and SOL up 16.1%. Zcash, however, fell 6.0% to $1,499.30.

The market pullback was accompanied by regulatory and security headlines, including OpenAI's delayed breach report being confronted by Australia's PM, and Kalshi denying a CFTC probe into unusual Bitcoin and Ethereum trade patterns.