The crypto market saw widespread declines, with Layer 2 cryptocurrencies leading the drop at 3.59%, and BTC briefly falling below $88,000.

According to data from SoSoValue, the cryptocurrency market saw a broad decline, with Layer 2 crypto leading the losses at 3.59%. Celestia (TIA) fell 4.83%, and Mantle (MNT) dropped 5.67%, but Movement (MOVE) bucked the trend, rising 8.16%. Bitcoin (BTC) fell 1.36%, briefly dipping below $88,000 before recovering to above $89,000. Ethereum (ETH) fell 0.31%, dropping to $3,000 before rebounding above $3,100.

In other sectors, the Layer 1 sector fell 1.25% in the last 24 hours, but TRON (TRX) rose 2.38%; the CeFi sector fell 1.37% in the last 24 hours, while Canton Network (CC) remained relatively strong, rising 1.64%; the PayFi sector fell 1.52%, while Trust Wallet (TWT) surged 1.84% intraday; the Meme sector fell 2.00%, while PIPPIN (PIPPIN) rose 2.21%; and the DeFi sector fell 2.39%, while MYX Finance (MYX) bucked the trend, rising 3.67%.

The crypto sector indices, which reflect the historical performance of the sector, show that the ssiLayer1, ssiCeFi, and ssiLayer2 indices fell by 0.75%, 1.33%, and 3.93%, respectively.