Total crypto market cap slides to $2.93T 8-month low as analysts warn of further downside

The total cryptocurrency market capitalization dropped to $2.93 trillion in late Thursday trading, its lowest level since April and erasing this year's gains. Analysts pointed to a roughly 33% decline from the early October peak near $4.4 trillion and almost 14% losses year-to-date, with several expecting more short-term downside despite a recent 2.3% rebound in Bitcoin. Sentiment data showed fear dominating retail traders, even as some market observers framed the pullback as a potential accumulation window for stronger projects.