The crypto market is facing significant losses, with all of the top 50 cryptocurrencies, excluding stablecoins, experiencing declines. Dogecoin dropped 12% to $0.37, Cardano fell 14.7% to $0.90, and Solana decreased by 10% to $227. Bitcoin also declined by 6.1% to $92,362. Analysts suggest that excessive leverage contributed to this downturn, viewing it as a necessary correction rather than the beginning of a bear market. Recent data indicates that spot ETFs saw net outflows, contributing to Bitcoin's decline, with significant liquidations affecting many positions. However, the upcoming release of the Federal Reserve's minutes and PCE data is expected to influence market sentiment further. Overall, the prevailing sentiment is that the recent pause is a healthy readjustment in the market.

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