The NFT market experienced a significant loss of $1.2 billion within 24 hours as part of a broader cryptocurrency crash, with its capitalization plummeting from $6.2 billion to $5 billion. Despite this sharp decline, the market showed signs of recovery, with capitalization briefly rebounding to $5.5 billion. However, major NFT collections such as Bored Ape Yacht Club and Pudgy Penguins continued to face downward pressure. In contrast, institutional crypto products demonstrated resilience, attracting $3.17 billion in weekly inflows. This suggests sustained long-term confidence from institutional investors, even as retail markets experience volatility.