The cryptocurrency market continues to experience a downward trend today. Bitcoin (BTC) 
$75,924 has fallen below $95,000, causing apprehension among market participants. The total market capitalization decreased by 2%, dropping to $3.27 trillion. Daily trading volume also saw a significant decline of 15%, reaching $138 billion. The Fear and Greed Index reflected the market’s uncertainty by dropping from 59 to 54.
Losses Increase Among Altcoins
The decline in Bitcoin’s price has affected other major altcoins as well. Ethereum (ETH) 
$2,406 lost 2%, while Ripple (XRP) 
$1 experienced a 4% drop. David Schwartz highlighted the benefits of Ripple Labs’ new stablecoin, RLUSD, bringing attention back to XRP. He stated that this stablecoin presents significant opportunities for users and developers on the XRP Ledger. Solana 
$97 (SOL) is trading at $182, maintaining a market capitalization of $87 billion.
Among the popular altcoins of recent days, Hyperliquid (HYPE) surprised investors with a 19% drop. HYPE had been among the biggest gainers in the previous two days. Memecoins followed a similar trend, experiencing declines between 2% and 4%.
Trump Takes Action in Digital Asset Sector
Amidst these developments, U.S. President Donald Trump has taken a new step toward the digital asset sector. He appointed Bo Hines as the Executive Director of the Presidential Digital Asset Advisory Committee. The committee aims to support the development and innovation of digital assets. Its chairman, David Sacks, indicated that this step could mark a pivotal moment for the industry.
Despite the recent negative developments, Bitcoin’s short-term 2% increase has provided hope for market participants. However, pressure within the overall market continues. Experts warn that participants should remain cautious.
