Arbitrum's recent performance highlights significant challenges in the cryptocurrency market. The coin has seen a decline of 3.37% against the US Dollar in the past 24 hours, underperforming the broader crypto market, which decreased by 0.79%. Over the past month, Arbitrum has dropped 20.95%, and it is down 59.49% year-over-year. Despite a medium-term bullish trend, the long-term outlook remains negative.

The sentiment in the Arbitrum market is currently bearish, with 68% of indicators predicting a negative trend. The Fear & Greed index reads "Greed," suggesting potential overvaluation. Investors should remain cautious amidst the current volatility and sentiment dynamics.