Crypto Market Suffers Losses Across Sectors: Fear Reigns Amidst NFT and DeFi Downturn

The cryptocurrency market has experienced a significant downturn over the past 24 hours, with notable declines in both the DeFi and NFT sectors. The global crypto market’s capitalization has dropped by 1.9%, while volume has decreased by 60%. This decline is reflected in Bitcoin’s price drop of -0.4% to $83.5K, Ethereum’s drop of -0.2% to $1.81K, and the overall market cap declining to $2.77T. The fear and uncertainty within the market are reflected by a Fear & Greed Index reading of 34.