Crypto Market Dips: Understanding Today’s Decline

The crypto market experienced a notable downturn today, as renewed regulatory pressure, a deleveraging effect in derivative markets, and technical breakdowns across major charts contributed to the decrease. Global cryptocurrency market cap fell 0.84% over the past 24 hours, hovering near $2.98 trillion. This decline follows a previous weekly drop of roughly 5.4%. While Bitcoin remains close to $91,150 and Ethereum trades just above $3,018, both markets exhibited muted reactions following Wednesday’s brief rally.