The cryptocurrency market is experiencing a downturn, with major coins like Bitcoin (BTC), Ethereum (ETH), Ethena (ENA), Avalanche (AVAX), and Internet Computer (ICP) all seeing significant losses in the past week. This decline has resulted in a nearly 1% drop in the overall crypto market capitalization, with an outflow of around $100 million in the past day.

Bitcoin, the largest cryptocurrency by market capitalization, has seen a mixed performance in the past 24 hours. Despite trading above and below $61,000, it is currently priced at $60,905, representing a 0.2% increase. However, BTC is still down 6% in the past week and 17.4% from its all-time high in March.

Ethereum, the second-largest cryptocurrency, is currently trading at $3,382, following a slight increase of 0.2% in the past day. However, its trading volume has plummeted from $11 billion to below $7 billion, indicating a decrease in market activity and interest. ETH is still down 3.5% in the past week and roughly 30.7% from its all-time high of $4,878 in 2021.

The decline in the crypto market is not limited to BTC and ETH. Ethena (ENA) has recorded a 1.7% loss in the past day, while Avalanche (AVAX) and Internet Computer (ICP) have seen declines of 1% and 1.5%, respectively. The technical charts for these assets indicate a downtrend, with some showing signs of being oversold.

In conclusion, the crypto market is currently experiencing a bearish trend, with major coins like BTC, ETH, ENA, AVAX, and ICP all seeing significant losses. The decline in trading volume and market activity suggests a decrease in investor interest, which could lead to further consolidation or a potential reversal. As the market continues to evolve, it is essential for investors to stay informed and adapt their strategies accordingly.