On April 3, the cryptocurrency market declined by 0.24%, with the total market capitalization remaining around US$2.28 trillion after briefly falling to US$2.27 trillion.

Bitcoin (BTC) decreased by 0.55% to US$66,581, moving weaker than the overall market and also dragging down overall sentiment. Meanwhile, Ethena (ENA) continued its sharp decline, plunging 4.9% in the last 24 hours, bringing the total correction since mid-March to 34%.
Crypto Market Holds at US$2.28 Trillion as Oil Pressure Rises
The total market capitalization of cryptocurrencies (TOTAL) on April 3 was at US$2.28 trillion, down US$5.4 billion compared to the previous day's close. The decline was temporarily deeper intraday, when the market nearly lost US$15 billion before buyers stepped in at the support level of US$2.27 trillion.
This reversal coincided with the S&P 500 closing in the green on April 2 despite earlier weakness, in line with other risk assets like crypto that received short-term support.
However, Brent oil prices continue to rise, increasing about 8% over the past week and approaching US$110. The ongoing rise in oil prices keeps inflation expectations high, thereby limiting the growth potential of interest rate-sensitive assets.
Currently, the market remains trapped below a key level on the daily chart.
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