Data: The cryptocurrency sector suffered a significant setback, with the PayFi sector leading the decline by nearly 14%, and BTC briefly falling below $60,000

According to SoSoValue data, the cryptocurrency market sector has suffered a significant setback, with a general decline of about 7% to 14% over the past 24 hours. The PayFi sector led the decline with a drop of 13.86%. Within this sector, XRP and Litecoin (LTC) fell by 12.58% and 13.87%, respectively, while Monero (XMR) dropped by 20.28%.

Meanwhile, Bitcoin (BTC) decreased by 10.10%, briefly falling below $60,000, and has now recovered to above $65,000; Ethereum (ETH) fell by 10.08%, dipping to $1,700 at one point, and is currently reported at $1,900.

In other sectors, the DeFi sector dropped 7.41% over the past 24 hours, but MYX Finance (MYX) and Hyperliquid (HYPE) rose against the trend by 9.68% and 6.07%, respectively; the Layer1 sector fell by 9.93%, with Zcash (ZEC) down 16.20%; the CeFi sector declined by 10.64%, with OKB dropping 12.35%; the Meme sector decreased by 12.17%, while MemeCore (M) remained relatively strong, rising by 2.78%; the Layer2 sector fell by 13.06%, with zkSync (ZK) surging by 4.90% during the day.

The cryptocurrency sector indices reflecting historical market performance show that the ssiPayFi, ssiAI, and ssiDePIN indices fell by 15.49%, 14.96%, and 14.93%, respectively.