Today, the cryptocurrency market experienced a bearish trend with Bitcoin failing to sustain above the $62,000 level, while Ethereum and various altcoins faced significant drops.

The current crypto prices show a downward trend, with Bitcoin (BTC) slipping below $62,000 and Ethereum (ETH) struggling to stay above $2,900. Other leading altcoins like Solana (SOL), XRP, and Cardano (ADA) also witnessed notable declines.

Key Cryptocurrency Prices Today

1. Bitcoin (BTC) Price:

Bitcoin's price fell by 0.95% to $61,909.06, with a trading volume down by 5.31% to $26.27 billion. The market capitalization of BTC stood at $1.21 trillion.

2. Ethereum (ETH) Price:

Ethereum's price dipped by 1.12% to $2,905.97, with a market valuation of $346.58 billion. The trading volume for ETH decreased by 1.14% to $12.09 billion.

3. Solana (SOL) Price:

Solana's price dropped to $143.90, a decline of 2.68%, while its trading volume increased by 6.75% to $2.47 billion.

4. XRP Price:

XRP's price decreased by 0.89% to $0.502, with a notable 25.49% rise in trading volume to $1.06 billion.

5. Cardano (ADA) Price:

Cardano's price was down by 1.81% to $0.4289, with a 19.33% decrease in its 24-hour trading volume to $290.99 million.

6. Dogecoin & Shiba Inu:

Dogecoin's price fell by 3.04% to $0.1464, while Shiba Inu's price tumbled by 2.20% to $0.00002305.

Top Crypto Gainers and Losers Today

Among the top gainers were Pepe Coin (PEPE) with a 7.47% increase, Arweave (AR) up by 4.01%, Wormhole (W) rising by 3.22%, and Floki (FLOKI) surging by 1.22%. On the other hand, top losers included Render (RNDR) down by 8.54%, Chainlink (LINK) with a 4.09% decline, Near Protocol (NEAR) slipping by 3.97%, and Hedera (HBAR) falling by 3.11%.

The overall market decline may have been influenced by the recent hot Producer Price Index (PPI) data released on May 14, showing a significant 0.5% surge in the U.S. PPI for April, surpassing market expectations.