The cryptocurrency market is experiencing a significant downturn today, with major cryptocurrencies like Bitcoin and Ethereum suffering substantial drops. This decline follows a period of bullish momentum, resulting in a 2.14% decrease in overall market valuation to $4.03 trillion despite increased trading volume. Bitcoin fell below $120,000 after experiencing a week-long surge. The largest cryptocurrency by market cap has lost approximately 1.55% from its daily peak, while other tokens followed suit with similar price movements. Bitcoin reached a new all-time high of $126,000 on October 6th before experiencing losses due to profit-taking activities among investors.