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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
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Sign InThe cryptocurrency market rout intensified as the total market capitalization plunged by over $180 billion, falling to $2.56 trillion. Massive liquidations totaling $700 million hit the market, affecting major assets including Bitcoin, Ethereum, XRP, and Solana. According to reports, leading cryptocurrencies have now broken through key technical support levels following the intense selling pressure triggered by recent geopolitical warnings.
This collapse coincides with persistent inflationary concerns, as market data (per May 12, 2026, releases) showed the US Consumer Price Index (CPI) rising 3.8% year-over-year, exceeding the 3.7% forecast. The scale of the digital asset decline has outpaced traditional equities, further exacerbated by weak economic data showing US Existing Home Sales at 4.02 million units, missing the 4.05 million estimate per market data.
Investors should closely watch for price stabilization at these lower levels, with Bitcoin trading at critical thresholds following the liquidation event (close May 12, 2026). Looking ahead, the economic calendar highlights Japan's Current Account and Australia's Home Loans data on May 13, 2026, which will be pivotal in determining if the market can stage a technical recovery or face further downside.
Update: Market reports confirm that both Bitcoin and Ethereum have broken through key technical support levels amid a sustained wave of selling. This technical breach reinforces analyst concerns regarding deeper losses as the market lacks immediate recovery signals following current geopolitical pressures.
Update: The total crypto market capitalization has fallen to $2.56 trillion as trading volume climbed to $65 billion amid intensified selling pressure. Furthermore, the Fear & Greed Index dropped below the 40 level while Bitcoin dominance reclaimed levels above 60%, signaling a definitive shift toward bearish sentiment among market participants.
Update: Bitcoin price dropped below the $77,000 support level following these developments, as analysts warned that a potential spike in oil prices could further fuel inflation. Market observers suggest this scenario might compel the Federal Reserve to consider raising interest rates to curb mounting price pressures.