The cryptocurrency market is experiencing a significant decline, with Bitcoin and altcoins struggling to find a foothold. The ongoing downward trend has led to a loss of $85 billion in the total cryptocurrency market value over the past 24 hours, with the total market value now standing at $2.3 trillion.

Bitcoin, the leading cryptocurrency, has reached a new monthly low, falling below $65,000 during intraday trading. The critical support level for Bitcoin is currently at $64,883, and losing this could extend losses further. If Bitcoin rebounds from this level, it could regain $66,000 as support.

Fantom (FTM) has also experienced significant losses, reaching its lowest level in three months. The altcoin is at risk of losing the $0.50 support level, and if this level is broken, it could signal further declines and contribute to the overall downward trend in the market. The next major support level for Fantom is $0.45, and losing this would indicate that bears are in control of the altcoin.

The decline in the cryptocurrency market has been fueled by investor concerns and market instability. The general sentiment remains cautious, with many investors waiting for a sign of recovery before entering the market. If the total cryptocurrency market value falls below $2.3 trillion, it could lead to a further decline in the market.

In conclusion, the cryptocurrency market is experiencing a sharp downturn, with Bitcoin and altcoins struggling to find a foothold. The ongoing downward trend has led to significant losses in the market, and it remains to be seen if the market will recover or continue to decline.