Crypto Market Cap Plummets Below $3.5T, Driven by Fear and Risk-Off Sentiment

The cryptocurrency market experienced a significant downturn over the weekend, with its total capitalization falling below the $3.5 trillion mark to stand at $3.42 trillion. This drop was fueled by increased fear and risk aversion among traders as they reacted to the delayed release of key U.S. economic data. Market analysts point to a combination of factors, including the negative Fear & Greed Index reading and the potential for further volatility in the cryptocurrency market.