Today, the cryptocurrency market experienced a downturn, with the total market capitalization dropping by 3.70% to $2.59 trillion on April 9, alongside $250 million in crypto derivatives market liquidations.

Bitcoin, the leading cryptocurrency, saw a 4.12% decrease to approximately $68,941 in the last 24 hours, while Ether, the second-largest crypto, dipped 4.63% to trade at $3,508 during the same period.

The decline in crypto prices can be attributed to several factors, including anticipation of higher-than-expected U.S. Consumer Price Index (CPI) data on April 10, which could impact Federal Reserve decisions on interest rates. Additionally, futures liquidations in the derivatives market contributed to the downward pressure on asset prices.

The recent trend of negative net capital flows into spot Bitcoin ETFs suggests a shift in investors' risk appetite, possibly towards more traditional assets during uncertain market conditions. Despite these challenges, optimism remains regarding the crypto market's potential growth, particularly with the upcoming Bitcoin halving event.