Cryptocurrency Market Faces Downward Pressure

The cryptocurrency market is experiencing a downturn, with the total market capitalization declining by 1.80% to $3.31 trillion in the past 24 hours. This decrease is mirrored by a similar drop in trading volume, which currently stands at $364.64 billion.

Bitcoin, the leading cryptocurrency, saw its price fall by 1.69%, now trading at $94,611. Despite this, Bitcoin's market dominance remains unchanged at 56.52%.

Ethereum, the second-largest cryptocurrency, also experienced a decline, with its price dropping by 1.01% to $3,349.15.

The market's bearish trend is evident as 79% of coins lost value, highlighting the prevailing negative sentiment.