The crypto market has declined significantly, with the total market capitalization dropping by 3% to approximately $3.1 trillion on February 24. This downturn is attributed to several factors, including the fallout from a $1.4 billion hack on the Bybit exchange and ongoing outflows from crypto investment products, which saw a withdrawal of $508 million in the week ending February 21. Major cryptocurrencies such as Ethereum, Bitcoin, and Solana have all recorded losses, with Ethereum leading the decline at 5%. Additionally, the derivatives market witnessed over $268 million in liquidations affecting more than 126,620 traders.%0ADespite this bearish sentiment, analysts at QCP Capital suggest the market's response has been moderate compared to past events like the FTX collapse, indicating a maturing crypto landscape. Investors are currently cautious, with uncertainties surrounding trade tariffs, inflation, and monetary policy influencing their decisions.

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