The cryptocurrency market capitalization has dropped below $3 trillion, experiencing a 5% decline in the past 24 hours, as reported by Coinomedia. Bitcoin (BTC) is currently trading at approximately $86,741, marking a 0.3% decrease, while Ethereum (ETH) has fallen nearly 4% to $2,835. The market's fear and greed index has plummeted to 17, indicating extreme fear among investors. This downturn is accompanied by $544 million in liquidations, driven by ongoing macroeconomic and regulatory challenges. The market's volatility reflects heightened investor caution as external pressures continue to impact sentiment.