The cryptocurrency market experienced a significant downturn, dropping 6.55% in the last 24 hours, reducing the total market capitalization to $2.95 trillion. Bitcoin and Ethereum both saw declines exceeding 7%, reflecting heightened market volatility. The Crypto Fear & Greed Index plunged to 11, signaling 'Extreme Fear' among investors. Despite the overall market slump, certain tokens like Axoloti Token, PayAI Network, and DOGEX defied the trend, each surging by over 800%. In the DeFi sector, total value locked (TVL) decreased by 4.12%, while NFT sales volume saw a slight decline of 1.29%. In regulatory news, UK authorities seized $33 million from a crypto money laundering operation, and the US increased the reward for information on Ryan Wedding to $15 million.