The cryptocurrency market is facing significant selling pressure, causing a dramatic drop in total capitalization to around $2.91 trillion. This marks a 7.48% decline since its previous peak. Bitcoin (BTC) has seen a steep fall from $90,000 to approximately $86,000, while Ethereum (ETH) dropped nearly 10.37%, reaching near $2,300. Other major cryptocurrencies like Solana (SOL) and XRP also suffered significant losses of 12.6% and 10.67%, respectively. 📰 This downturn has been attributed to a combination of factors, including economic policies announced by former US president Donald Trump, which have dampened global investor risk appetite and impacted the cryptocurrency market. 📈 📉 The impact of Binance’s recent heavy selling pressure is also being cited as a major factor driving this decline. 💰 With over $1.3 billion liquidated in just 24 hours, the outlook for the market appears precarious. Concerns are mounting as Ethereum’s crucial support level at $2,381 remains critical. If breached, prices could plummet to between $1,800 and $2,100. Meanwhile, Bitcoin risks testing the $85,000 threshold, with a potential for further significant losses if it falls below this level. On a more positive note, recent institutional investments in Bitcoin, such as a notable purchase of 20,356 BTC by Strategy, could offer some form of recovery support. While some analysts believe the current downturn is necessary for growth, the ongoing sell-offs and negative global economic signals suggest a prolonged period of market instability for altcoins. 🌎 Investors are advised to approach the market with caution as Bitcoin’s value dips closer to critical levels. 🚨