The cryptocurrency market has experienced a significant downturn, with Bitcoin (BTC), Ethereum (ETH), XRP, and other major assets dropping over 7% in the latest trading session. This sharp decline has resulted in $850 million in liquidations over the past 24 hours, with Bitcoin's price testing the critical $70,000 support level. The market has lost over $170 billion in investor wealth in just one day, contributing to a total erosion of nearly $900 billion in market cap over the past month. Bitcoin's price crash to $71,000 marks its lowest level since November 2024, erasing gains made since the post-US Elections 2024. Analysts highlight that Bitcoin's momentum remains bearish, with potential downside targets between $55,700 and $58,200. Ethereum has also seen a significant drop, losing 40% of its value over the month, while other altcoins like Solana (SOL), BNB, and Dogecoin (DOGE) have fallen 15-25% in the past week. The market sentiment remains bearish amid macroeconomic uncertainties and a rally in precious metals.