Market Update July 24

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The cryptocurrency market experienced a downturn over the past 24 hours, with most major digital assets trading in negative territory. 

Bitcoin, the market’s bellwether, suffered a decline of -0.80% to trade at $65,987. Ethereum, the second-largest cryptocurrency, also followed suit, shedding -0.28% of its value to trade at $3,445.

The broader cryptocurrency market mirrored the losses of its top assets, with the total market capitalization contracting by -0.15% to $2.4T.

Despite the recent pullback, many crypto enthusiasts remain optimistic about the long-term prospects of the industry following the recent approval of Spot Ether ETFs, which began trading yesterday. However, the price of the asset has not reacted to this event.

Other altcoins have had minor changes, including BNB (+0.86%), SOL (-1.06%), XRP (+0.82%), and DOGE (-1.51%).