The cryptocurrency market has experienced a significant downturn, with over $200 million in value being liquidated in just 60 minutes. This drastic move comes amidst growing concerns about a potential market correction after an extended period of resilience against earlier volatility. The total crypto market capitalization dropped below $2.51 trillion, reflecting a loss exceeding 5% within the last 24 hours. Bitcoin (BTC) fell to $79,853, down by 3.75%, dangerously approaching the crucial $79,000 level. Ethereum (ETH), however, saw an even sharper decline of 8.62%, reaching $1,636 and threatening its psychological support of $1,600. Solana (SOL) also experienced a significant drop of 8.12%, plummeting to $108, inching closer to the symbolic $100 mark. Altcoins like Cardano (ADA), XRP, and Dogecoin (DOGE) also witnessed substantial losses, with ADA losing 8.65%, XRP dropping 5.87%, and DOGE crashing by 8.25%. The overall market is dominated by red, showcasing widespread selling activity across all assets.