New york: The total capitalization of the cryptocurrency market has seen a decrease of 1.92% over the past 24 hours, dropping to 2.65 trillion US dollars. This downturn is reflected in the performance of major cryptocurrencies, with Bitcoin (BTC), the market leader, experiencing a 1.70% drop, bringing its price down to 79,668 US dollars. Similarly, Ethereum (ETH) saw a decline of 1.58%, settling at 2,263 US dollars.

According to Azeri-Press News Agency, digital assets tied to gold prices have also witnessed a slight decline. PAX Gold (PAXG) dropped by 0.09% to 4,688 US dollars, while Tether Gold (XAUt) decreased by 0.16% to 4,687 US dollars. Other prominent cryptocurrencies such as BNB, Zcash (ZEC), Bitcoin Cash (BCH), Monero (XMR), and Bittensor (TAO) also faced declines, with Zcash experiencing the most significant drop of 5.22% to 527.9 US dollars.

The CoinMarketCap 20 index (CMC20), which tracks the top 20 cryptocurrencies, also fell by 1.97% to 159.97 points. Analysts attribute this decline in the market to several factors, including uncertainty regarding inflation and interest rates in the United States, profit-taking by investors, and a weakening interest in risky assets.