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The downward trend continues in the cryptocurrency market.
“Elchi” reports that Bitcoin (BTC), the market leader, has fallen by 1.30% in the last 24 hours, reaching $66,330.
The value of Ethereum (ETH) has also decreased by 1.11% to $1,947.
No significant changes were observed in stablecoins, with Tether (USDT) remaining at $0.9991 and USDC at $0.9998.
The altcoin market also mainly experienced declines, with XRP falling by 1.42% to $1.35 in the last 24 hours. BNB decreased by 1.42%, and Solana (SOL) by 2.64%.
TRON (TRX) increased by 0.22% and Dogecoin (DOGE) by 0.47% in the last 24 hours.
Overall, the total capitalization of the cryptocurrency market has decreased to $2.27 trillion, which is a 1.09% decrease in the last 24 hours. The weakening of risk appetite in the market and the increase in selling pressure on leading cryptocurrencies against the background of short-term profit-taking by investors are considered one of the main reasons for this dynamic.