The crypto market tanked over the past 24 hours, with the market cap declining almost 3% to $2.63 trillion as bearish sentiment returned. Bitcoin (BTC) peaked at a local high of $86,397 before investors began booking profits. As a result, the flagship cryptocurrency slipped below $85,000, falling to a low of $83,211 before registering a marginal recovery and moving to its current level. 

BTC is down over 2% and trading around $83,400. Ethereum (ETH) also registered a substantial 4% decline and fell below $1,600 to its current level of $1,572. Meanwhile, Ripple (XRP) is down almost 4%, struggling to maintain its position above $2 despite facing growing selling pressure. Solana (SOL) also registered a substantial decline and fell below $130 to its current level of $125. 

Nearly …