The cryptocurrency market has lost significant value over the past 24 hours, falling 2% of its total capitalization due to significant losses across a range of assets.

Bitcoin price fell 3.2% on the day, but remains in the green for the week. At the same time, Solana's rally was abruptly interrupted, and the coin is trading at a loss of 11%. Let's take a closer look.

Bitcoin price dropped to $34K

As we mentioned in yesterday's market update, the price of Bitcoin was on track to break through the $36K level, reaching heights the market had not seen in about 18 months.

Unfortunately, the bulls were unable to maintain the positive momentum, and the price returned to the current level - just above $34K. This represents a decline of 3.1% over the last 24 hours.

Bitcoin's dominance, a metric used by analysts to gauge its share relative to the rest of the market, also fell 0.3% on the day to 50.7%. This indicates that altcoins have generally performed better than BTC over the period.

Of course, this does not apply to all altcoins.

Solana (SOL) price fell 11% in a day

Among the 20 largest cryptocurrencies by total capitalization, Solana certainly suffered the greatest losses. SOL fell 11% in the last 24 hours, erasing a lot of the gains made over the last few days. It is currently trading below $40.

Other cryptocurrencies are also on the decline, as the above heat map shows. Those that trade in the green zone do so very weakly.

However, among the top hundred, the coin that lost the most was Coinflux (CFX), down 12.2%, followed by Render and Solana, both down around 11%.

On the other hand, Trust Wallet is bucking the market sentiment and rising 8.3% on the day.