The cryptocurrency market is falling: market capitalization drops below a critical level

According to CoinGecko, the total market capitalization of cryptocurrencies has suffered significant losses, declining by 4.7% over the past 24 hours. According to PANews, this decline was severe enough for the total value of crypto assets to fall below the psychological mark of $2.3 trillion.

Such a drop in dollar-denominated market capitalization indicates increased volatility in the market. The cryptocurrency sector continues to react to macroeconomic factors, and the current decline demonstrates the sensitivity of digital assets to fluctuations in global financial conditions. With this dynamic, investors are closely monitoring whether the market can consolidate at current levels or if further declines in prices will continue.