The cryptocurrency market is experiencing significant turbulence, with major coins like Bitcoin (BTC) and Ethereum (ETH) facing declines. Bitcoin miners are under pressure as mining revenue per terahash has fallen to a 12-month low of 4 cents, exacerbated by the upcoming halving event and increased network difficulty. Additionally, market uncertainty is high due to a large Bitcoin transfer by Binance, which was later clarified as an internal move. Long liquidations stand at $112.25 million, reflecting increased market anxiety.

Ethereum’s on-chain activity has also dropped, with its 7-day moving average of daily volume hitting a 9-month low. Transaction counts have fallen sharply, and the Ethereum Foundation’s $100 million ETH deposit to Kraken, coupled with a whale’s $24 million ETH sale, has added to the bearish sentiment. Outflows from Ethereum ETFs, totaling $13.2 million, further indicate waning investor confidence.

XRP is volatile due to ongoing legal issues with the SEC, trading below $0.60 amidst appeal uncertainty. Toncoin is declining following Telegram CEO Pavel Durov’s arrest, with increased selling pressure affecting both Toncoin and the NOT token, which risks falling to $0.0005.