Crypto Market Suffers Broad Decline: XRP Drops 6%, Bitcoin Holds Above $118K

The cryptocurrency market experienced a steep downturn over the past 24 hours, with total market capitalization falling by 3.49% to $4.03 trillion. Following a period of strong gains throughout last week, which saw Bitcoin hit new all-time highs above $124,000, the digital asset space has seen a pullback. Despite this decline, the Altcoin Season Index currently sits at 44/100, indicating that Bitcoin remains dominant despite some recent altcoin activity.