The cryptocurrency market continued its downward trend today, with Bitcoin falling below the $95,000 mark, leading major altcoins to experience declines as well. Tokens such as THORChain (RUNE) and Injective (INJ) dropped by 11% from their daily highs, indicating a challenging environment for investors.
Market Overview
The global cryptocurrency market lost approximately 2%, sending its total market capitalization down to $3.33 trillion. However, trading volume increased by 4% over the last 24 hours, reaching $168 billion. This suggests that traders remain active despite the market’s overall downturn.
Major Cryptocurrencies’ Performance
Bitcoin (BTC) 
$62,400 is currently trading at $94,390, reflecting a 3% drop in the last 24 hours. Ethereum (ETH) 
$1,658 also experienced a 1.5% decrease, settling at $3,325. Solana 
$69 (SOL) fell by 2% to $195.45, mirroring the negative sentiment across the market.
THORChain (RUNE) and Injective (INJ) ranked among the worst performers, with RUNE decreasing by 11% to $3.94 and INJ following suit with a similar drop to $21.60. These declines have intensified selling pressure among traders.
Conversely, XRP emerged as one of the better-performing cryptocurrencies, gaining 0.40% to trade at $2.351. The listing of Ripple 
$1’s RLUSD stablecoin on the Bitstamp exchange has provided an additional use case for the XRP ecosystem.
Amidst the overall market decline, significant outflows were recorded in Bitcoin ETFs. According to SoSo Value data, $458 million was withdrawn from BTC ETFs, with Fidelity noted as the largest seller. Nonetheless, some cryptocurrencies managed to rise, such as XDC Network with a 7% increase and Monero with a 4% gain, highlighting that opportunities may still exist in the market.
Ultimately, the fluctuations within the cryptocurrency market present a scenario that demands careful monitoring by traders. Despite the prevailing downward trend, some cryptocurrencies show signs of recovery, suggesting that investors should stay vigilant regarding these developments.
