Cryptocurrency Market Faces Downturn Amidst Bearish Trends

The cryptocurrency market experienced a notable downturn over the past 24 hours, with the total market capitalization falling from $3.68 trillion to $3.53 trillion, marking a -4.16% change. This decline is accompanied by a reduction in total trading volume, which also decreased by -4.16%, currently standing at $672.83 billion.

Bitcoin, the leading cryptocurrency, saw its price drop by -2.17% to $101,332, although its market dominance increased slightly to 56.90%. Ethereum, the second-largest cryptocurrency, faced a more significant decline of -4.37%, with its price now at $3,673.30.

The market's bearish sentiment is evident, with 86% of coins losing value. Despite some coins like Usual and Movement posting gains, the overall market outlook remains pessimistic.