The cryptocurrency market capitalization has fallen below the $3 trillion mark, causing panic among investors. Bitcoin is approaching the psychological $90,000 level.
Crypto Market Downtrend
The last 24 hours have been tough for the cryptocurrency market, which lost more than 7% of its capitalization, dropping to $2.98 trillion. This has led to widespread uncertainty among market participants.
Factors Affecting the Market
The main reasons for the decline are: an overall market downturn, the Federal Reserve's tight monetary policy, stock market weakness, and security issues at the Bybit exchange. These factors significantly contribute to negative investor sentiment.
Losses in the Crypto Crash
Some cryptocurrencies have been particularly hard-hit in the past 24 hours. These include Raydium (-30%), Lido DAO (-18%), BONK (-17%), TRUMP (-16%), and Pyth Network (-15%). These losses highlight the high risks associated with crypto investing.
The cryptocurrency market remains extremely volatile. Investors are watching the $90,000 level for Bitcoin, which could significantly influence future crypto price behavior.
