AVAX slid alongside a broad crypto selloff, with the total market cap and altcoins both retreating as fear gripped traders.
Avalanche (AVAX) fell about 5% over 24 hours, dropping from roughly $8.16 to $7.76 on more than $530 million in trading volume.
The move tracked a market-wide pullback rather than any AVAX-specific news. Total crypto market cap dropped about 2%, falling from $2.29 trillion to $2.16 trillion, while the altcoin market — everything outside BTC and ETH — lost about 2.16% of its value.
Bitcoin (BTC) also dropped below $63,000, even as a signed U.S.-Iran peace deal removed a major source of geopolitical risk. The pullback followed the Federal Reserve’s decision to hold interest rates steady, with traders shifting attention toward equities rather than crypto.
Sentiment data backs up the risk-off mood. CoinMarketCap’s Fear & Greed Index sits in deep fear territory, with readings near 12, suggesting traders are broadly cautious rather than reacting to a single bad headline. AVAX is now down roughly 8% over the past week and about 18% over the past month.
For a longer-term view of where AVAX could be headed, check our Avalanche price prediction.
Disclaimer: Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.
