Data: The cryptocurrency market is experiencing a widespread decline, with the Layer 2 sector leading the drop at 3.59%. BTC briefly fell below $88,000

According to SoSoValue data, the cryptocurrency market is experiencing a widespread decline, with the Layer2 sector leading the drop at 3.59%. Celestia (TIA) fell by 4.83%, Mantle (MNT) decreased by 5.67%, while Movement (MOVE) rose against the trend by 8.16%.

Additionally, Bitcoin (BTC) dropped by 1.36%, briefly falling below $88,000, but has since rebounded to above $89,000. Ethereum (ETH) decreased by 0.31%, falling to $3,000 before bouncing back to above $3,100.

In other sectors, the Layer1 sector declined by 1.25% over 24 hours, but TRON (TRX) rose by 2.38%; the CeFi sector fell by 1.37%, with Canton Network (CC) remaining relatively strong, increasing by 1.64%; the PayFi sector decreased by 1.52%, while Trust Wallet (TWT) surged by 1.84% during the day; the Meme sector dropped by 2.00%, but PIPPIN (PIPPIN) increased by 2.21%; the DeFi sector fell by 2.39%, with MYX Finance (MYX) rising by 3.67%.

The cryptocurrency sector indices reflecting historical performance show that the ssiLayer1, ssiCeFi, and ssiLayer2 indices fell by 0.75%, 1.33%, and 3.93%, respectively.