The global cryptocurrency market has shed nearly $1 trillion in capitalization since early October, marking one of the steepest downturns since 2022. Analysts attribute the slump to heightened regulatory uncertainty, sustained liquidations, and declining trading volumes. Bitcoin and Ethereum prices fell sharply as leveraged positions unwound across exchanges. Despite record adoption rates and stable institutional inflows, retail sentiment remains weak. Industry experts emphasize that consolidation could persist until macroeconomic clarity returns and long-term investors regain confidence in the digital asset market.