In accordance with Coinpedia, the global cryptocurrency market has experienced a significant downturn, with the market cap dropping 8.71% in the last 24 hours to $3.22 trillion. This decline is attributed to ongoing turmoil caused by FED rate cuts and liquidations. Despite the market's overall decline, trading volumes have surged by 30.14% to $341.17 billion, indicating increased investor activity. Bitcoin, despite a 7.89% price drop to $93,937.54, maintains a dominant market share of 57.79%. Ethereum and Solana have also seen substantial price declines of 12.09% and 11.41%, respectively. Meanwhile, MOVE has bucked the trend with a 10.93% increase. The Fear & Greed Index stands at a 'Greed' score of 62, suggesting cautious optimism among market participants. The current market conditions have sparked concerns about year-end targets for major cryptocurrencies.
Crypto Market Cap Drops 8.71% Amid FED Rate Cuts and Liquidations
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