An end to the turbulence in the crypto market does not seem to be in sight for now. The total market capitalization has fallen by another 0.5%. Still, some cryptocurrencies are managing to partially make up for their losses.

Bitcoin shows recovery but remains lower on weekly basis
Bitcoin is among the winners of the day. The oldest cryptocurrency is up 2% and is currently quoting a price of $83,000. However, the value is still 10% lower than a week ago.

Ethereum, on the other hand, has lost 1.2% in the past 24 hours and stands at $1,870. On a weekly basis, the second-largest cryptocurrency has surrendered nearly 20%.

Mixed signals in altcoins
Other major coins are showing slight price recoveries. XRP, BNB, Solana, Dogecoin and Tron are all showing small gains. Cardano and Ethereum are currently the only two crypto currencies in the top 10 that are slightly down.

Among the 100 largest cryptocurrencies, Pi Network (+12%), Pepe (+12%) and Celestia (+10%) stand out as the biggest risers. The biggest decliners are Hyperliquid (-7%), Bittensor (-5%) and Flare (-4%).

Trading volume continues to fall: warning signal for the market?
However, a real break in the trend does not seem to be in sight yet. Trading volume in the crypto market has dropped more than 60% since peaks in February.

Data service Santiment see this as a troubling development and writes on X:
"After further declines in market capitalization over the past two weeks, trading activity indicates a mix of exhaustion, hopelessness and capitulation."

Santiment further states that decreased trading activity indicates growing uncertainty among investors: "Fewer and fewer traders believe purchases at current levels will be profitable."

According to the analyst, the combination of declining trading volume and limited price movement could be an early warning signal of declining market momentum. Whether the crypto market will recover from this in the short term remains to be seen.