The cryptocurrency market has experienced a significant slowdown over the past 24 hours, with major coins consolidating and failing to mount a swift recovery. Bitcoin's price stands at approximately $61,000, while Ethereum has dipped below the crucial $3,000 mark.

Bitcoin's price suffered a sudden correction, plummeting below $61,000 and incurring a 3.5% loss in a single day. This downturn appears linked to a statement from a US Federal Reserve representative suggesting it may be premature to consider rate cuts. Despite this, the market has calmed, and the worst seems to be behind us. Although the bulls attempted a recovery, it was swiftly halted at $61.4,000, and the price currently stands at $61,000.

Notably, the Fear and Greed index still indicates a state of "greed" in the market despite recent declines. Major altcoins, measured by total market capitalization, have yet to recover from the previous day's crash but are consolidating and posting marginal gains. Ethereum is consolidating below the critical $3,000 level, making it intriguing to observe if buyers can reclaim it soon.

Today's top performers include Immutable (IMX), up 4.7%, and Ribbon Finance (RBN), up 3.3%. Conversely, the worst performers are Zebec Protocol (ZBC), down 7.8%, and Kaspa (KAS), down 4.8%.