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The cryptocurrency market is experiencing a sharp downturn, with Bitcoin ($BTC ), Ethereum ($ETH ), and $XRP all seeing significant price declines in the last 24 hours. The market sell-off is driven by weakening risk appetite and increasing macro uncertainty, pushing the overall market into a state of "Extreme Fear".
Market Performance Snapshot
Bitcoin ($BTC ): The flagship cryptocurrency briefly touched new local lows, falling below the $86,000 mark to a low of approximately $85,147 before slightly recovering to around $86,280 at time of writing. The price has dropped over 22% in the last three months.
Ethereum ($ETH ): Ethereum also moved lower, declining roughly 6.9% in the last day, trading around $2,929.64.
XRP ($XRP ): XRP has also faced selling pressure, trading below the $2.00 threshold at approximately $1.8769, a decline of over 6%.
The overall crypto market capitalization now stands at $3.07 trillion, down slightly over the last day. Bitcoin dominance remains high at 58.50%, indicating a flight to the perceived safety of BTC as altcoins underperform.