Market Analysis: Cryptocurrency Market Faces Downward Pressure

The cryptocurrency market has experienced a notable decline, with the total market capitalization dropping from $3.03 trillion to $2.99 trillion, marking a -1.43% change in the past 24 hours. This downturn reflects a broader bearish sentiment affecting the market.

Bitcoin, the leading cryptocurrency, saw its price fall by -2.12%, now trading at $86,504. Its market dominance has decreased to 57.31%, indicating a shift in investor confidence.

Ethereum also faced significant losses, with a -5.68% decrease, highlighting the prevailing market volatility. The overall trading volume has mirrored this trend, decreasing by -1.43%, suggesting reduced market activity and investor caution.