The cryptocurrency market experienced a notable downturn over the past 24 hours, with the total market capitalization declining by 3.62%, now standing at $3.28 trillion. This bearish trend is reflected in the trading volume, which also saw a 3.62% decrease, totaling $675.22 billion.

Bitcoin, the leading cryptocurrency, fell by 3.51%, currently priced at $94,640. Its market dominance slightly decreased to 57.07%, indicating a potential shift in investor sentiment.

Despite the overall market decline, Ethereum showed resilience with a 1.60% increase, priced at $3,434.55. However, the broader market remains under pressure, as 77% of cryptocurrencies lost value, signaling a challenging environment for investors.