The downward trend across major assets in the cryptocurrency market has continued over the past 24 hours, APA-Economics reports, citing the CoinMarketCap platform.
The price of Bitcoin (BTC) fell by 2.82% over the past 24 hours, declining to $67,701.
Ethereum (ETH), the second-largest asset in the market, dropped by 4.37% to $1,976.
Negative dynamics have also been observed among other major cryptocurrencies. XRP declined by 3.89% over 24 hours to $1.38, while BNB fell by 4.01% to $611.
At the same time, Solana (SOL) decreased by 4.79% to $82.23, and Dogecoin (DOGE) dropped by 3.40% to $0.092.
Among stablecoins, Tether (USDT) and USDC remained virtually unchanged, holding at around $1.
Analysts attribute the observed decline in the cryptocurrency market to weakening risk appetite in global financial markets, investor profit-taking, and renewed expectations of tighter monetary policy in the United States.
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