Hedera Slides to Lowest Point in a Year as Crypto Market Plunges

Bitcoin's price has slid to $86,000, significantly below its recent trading range, as concerns over slower rate cuts and issues in the AI stock market weigh heavily on investor sentiment. This decline is part of a broader downturn affecting the cryptocurrency market, with many assets experiencing increased sell pressure.

The U.S. Senate has decided to postpone the markup hearing for a cryptocurrency market structure bill until next year, delaying any potential legislative progress in the crypto sector. This decision comes amid ongoing debates and opposition from various consumer groups and unions who are challenging the current versions of the bill.

Filecoin (FIL) has seen a significant decline of 5%, dropping to $1.24 as the cryptocurrency market experiences a broader downturn, characterized by heavy trading volume that is 380% above average. This technical breakdown raises concerns about the stability of the asset.

BNB has fallen below key support levels, trading under $865, as the cryptocurrency market cap approaches $3 trillion. This decline appears to be driven by broader market pressures rather than specific negative news related to BNB itself.

The price of Hedera's native token, HBAR, has continued its downward trend, recently falling below a critical support level of $0.12, raising concerns about a potential crash below $0.10. This decline is part of a broader trend of volatility in the cryptocurrency market, which has seen significant fluctuations in trading volumes and prices.

Bank of America has indicated that U.S. banks are transitioning towards a multi-year on-chain future, driven by expedited stablecoin regulations and charter rules that are integrating cryptocurrency into the regulated banking sector. This shift suggests a significant evolution in how traditional banks are approaching digital assets.

Internet Computer (ICP) has experienced a decline, slipping back toward recent lows after failing to maintain intraday gains. The trading volume remains elevated, indicating ongoing distribution near resistance levels, which reflects bearish sentiment in the market.

The TON token has extended its decline, dropping significantly more than the broader cryptocurrency market, which is currently experiencing volatility and uncertainty. The trading range has been marked by above-average volume, indicating active repositioning among traders.