Today, the cryptocurrency market is seeing a downturn, with Bitcoin (BTC) falling by over 4%, Ethereum (ETH) by around 4.3%, and Solana (SOL) dropping significantly by nearly 8%. This decline follows last week's market turbulence and is influenced by a combination of global economic uncertainties, including higher interest rates in Japan, weaker-than-expected U.S. economic data, and ongoing geopolitical tensions. Analysts are advising caution as the market remains volatile, with potential for both further declines and unexpected rebounds.

On the macroeconomic front, the Federal Reserve is signaling that interest rate cuts are unlikely in the near future due to persistent inflation risks, while JPMorgan Chase CEO Jamie Dimon has warned of a high likelihood of a U.S. recession, further contributing to market instability.

Additionally, Bitcoin continues to face pressure from potential sales of large amounts of BTC related to the Mt. Gox bankruptcy and other legal seizures, adding to the bearish sentiment in…