SynopsisCrypto market crash today: The crypto market is experiencing a significant downturn, with total market capitalization falling to $2.24 trillion. Bitcoin and Ethereum are leading the decline, impacting altcoins and the broader DeFi sector. Heavy liquidations and a "Fear" sentiment in the market are contributing to sustained selling pressure.AgenciesCrypto market crash todayCrypto market crash today: The crypto market is continuing its downward trend, with total market capitalization falling to $2.24 trillion, marking a 1.98% decline over the past 24 hours. Despite the drop in valuations, trading activity has increased, with 24-hour crypto volume rising 7.82% to $144.64 billion, as per a Blockchain Reporter report.Bitcoin (BTC USD) and Ethereum (ETH USD) Drag Market Lower as Market Cap ShrinksBitcoin (BTC) is trading at $64,435.40, down 2.90%, while maintaining a 57.5% market dominance and Ethereum (ETH) is also under pressure, trading at $1,807.50, reflecting a 1.80% decline, with market dominance at 9.7%.The weakness in the two largest crypto assets has contributed significantly to the overall contraction in total crypto market capitalization.Altcoins Add Pressure as Broader Crypto Market Cap FallsThe broader altcoin market has also seen steep losses.Several major tokens including SOL, XRP, ADA, BNB, DOGE, AVAX, LINK, and others have dropped sharply, many recording significant daily declines.You Might Also Like:Ethereum briefly touched lower levels earlier in the session, while several altcoins hit multi-month or multi-year lows before small rebounds.Despite the red market, a few tokens such as WLD showed strong gains during the downturn.Crypto Market Cap Loses Billions Amid Heavy LiquidationsThe total crypto market cap has fallen further during the ongoing selloff, with reports showing a drop of around $140 billion in a single day at certain points, as per a Crypto Potato report. Bitcoin also saw significant volatility, briefly falling below $62,000 before recovering slightly, while still showing a 14% weekly decline.You Might Also Like:Market liquidations have crossed $1.6 billion, adding further pressure across digital assets.DeFi Market Cap and TVL Also DeclineThe decentralized finance sector has not been spared from the downturn.Total DeFi TVL has dropped 2.42% to $73.539 billion.Lido, the largest DeFi protocol by TVL, is down 4.89% at $15.761 billion, reflecting broader weakness across the sector.You Might Also Like:Fear Dominates as Crypto Market Cap Faces Continued PressureEven the sentiment has weakened sharply, with the Crypto Fear & Greed Index at 21, signaling “Fear” among market participants, as per the Blockchain Reporter report. With sentiment firmly in “Fear” territory and market cap declining across multiple segments, both major assets and altcoins are contributing to the ongoing downturn.Despite short-term recoveries in some tokens, overall market capitalization continues to reflect sustained selling pressure.FAQsWhat is the current crypto market cap?It stands at around $2.24 trillion.What is the Fear & Greed Index showing?It is at 21, indicating “Fear.”Read More News on(Catch all the US News, UK News, Canada News, International Breaking News Events, and Latest News Updates on The Economic Times.) Download The Economic Times News App to get Daily International News Updates....moreless