The cryptocurrency market experienced a broad decline today. SoSoValue data shows that multiple sectors fell by more than 10%. BTC and ETH have dropped by 5.14% and 6.11% respectively in the past 24 hours. The CeFi sector fell by 5.17%, while the NFT sector, which performed strongly yesterday, also declined by 6.01%.

Specifically, the Layer 1 and Layer 2 sectors fell by 8.14% and 9.37% respectively, the DeFi sector saw a decline of 10.55%, and the Meme sector decreased by 11.33%. The declines in the DePIN and PayFi sectors were 11.48% and 11.69% respectively.

Despite the overall market slump, some projects still rose against the trend. In the NFT sector, Pudgy Penguins increased by 9.54%, Moca Coin rose by 10.25%, and AI Rig Complex in the AI Agents category surged by 54.22%.

Analysts point out that this broad market decline may be related to the Federal Reserve's adjustment of interest rate cuts, the increase in core PCE inflation rate and GDP growth rate, as well as liquidity expectation panic triggered by Powell's hawkish remarks.