Why Is the Crypto Market Down This Week?

The cryptocurrency market has experienced a downturn this week, with the total market capitalization decreasing by 4.4% to its lowest level since June 14, now at $1.02 trillion. This decline has led to an increase in Bitcoin’s market dominance amid ongoing regulatory uncertainty affecting altcoins.

Despite the excitement around recently submitted exchange-traded funds (ETFs) for Ether and Bitcoin, the United States Securities and Exchange Commission (SEC) continues to postpone its decisions regarding these financial products.

Data visualizations providing insights into the total crypto market cap, Ether liquidations, and overall market volume can be referenced from their respective analytics sources.