The observed 1.5% drop in Bitcoin 
$98,601 price spreads a negative sentiment across the market. With Bitcoin falling below $93,000, uncertainty in the cryptocurrency market has increased. Simultaneously, Helium (HNT) lost 12% and Quant (QNT) saw a 10% decrease in value. This overall market fluctuation resulted in a decline of the total global market capitalization to $3.22 trillion. During this period, the trading volume surged by 50%, reaching $139 billion.
Major Cryptocurrencies Continue to Decline
The loss in Bitcoin’s value also impacted leading cryptocurrencies such as Ethereum (ETH) 
$3,611 and Ripple (XRP) 
$2. Ethereum’s price decreased by 2.4%, dropping to $3,336, alongside significant fund outflows from Ethereum ETFs. Ripple declined by 5%, settling at $2.02, while Solana 
$216 (SOL) faced a 1% drop, trading at $190.
These declines further supported the negative perception prevailing in the market. The anticipation of BlackRock ETF data is amplifying pressure on traders. Particularly, uncertainties regarding market direction have led to cautious trading behavior.
Risers and Fallers
Some digital assets exhibited notable activity in the market. Zerebro (ZEREBRO) surged by 25% to reach $0.55, indicating an 82% weekly gain. DeXe (DEXE) increased by 8%, rising to $13.88. However, tokens like Helium and Quant drew attention with losses exceeding 10%.
While the total trading volume in the cryptocurrency market increased, the decline in leading digital assets adversely affected the market’s overall atmosphere. A manager at Riot Platforms indicated that regulatory pressure on Bitcoin mining is creating new challenges within the sector.
In conclusion, losses in major cryptocurrencies and market uncertainty are prompting traders to act more cautiously. Nonetheless, the increase in trading volumes suggests that the market is maintaining its dynamism. The recent acceptance of new payment methods may support cryptocurrency adaptation, potentially fostering a more positive environment ahead.
