The cryptocurrency market experienced a significant downturn over the past 24 hours, with total market capitalization shedding 3.87% to reach $3.75 trillion according to CoinMarketCap data. The decline was marked by Bitcoin’s drop of 3.77%, trading near $108,675. Ethereum also fell nearly 4%, settling at $4,340. XRP suffered one of the steepest losses, tumbling over 5% to reach $2.83. Solana dropped to $205, Dogecoin lost more than 4%, and Cardano slid 4.4% down to $0.82. This downturn followed recent events like the sudden removal of Fed Governor Lisa Cook on August 28th, alongside growing uncertainty surrounding the September Federal Reserve interest rate decision.