Cryptocurrency Market Faces Downturn Amidst Bearish Trends

The cryptocurrency market has witnessed a notable decline, with the total market capitalization dropping by 1.62% to $3.44 trillion in the past 24 hours. This decrease is mirrored by a similar reduction in total trading volume, which now stands at $865.73 billion.

Despite Bitcoin's modest 0.56% price increase to $97,482, its dominance in the market has grown to 56.06%. However, the broader market sentiment remains pessimistic as 79% of coins experienced losses.

Ethereum, the second-largest cryptocurrency, saw a 1.20% decline, highlighting the prevailing bearish market conditions.