As of May 31, 2025, the cryptocurrency market is experiencing a notable downturn:

The global crypto market capitalization has decreased by approximately 4.8% over the past 24 hours, now standing at around $3.25 trillion.

$BTC (Bitcoin) is trading at approximately $103,745, reflecting a 1.4% decline in the last 24 hours.

$ETH (Ethereum) is priced at about $2,521, down 4% over the same period.

$BNB (Binance Coin) is at $653.74, a 2.4% decrease.

The market's decline is attributed to several factors, including the "sell in May and go away" strategy, leading to widespread sell-offs in altcoins. Additionally, the Altcoin Season Index has dropped to 16, indicating a significant underperformance of altcoins compared to Bitcoin.

Despite the current downturn, some analysts remain optimistic about the long-term prospects of certain cryptocurrencies. For instance, #XRP is projected to potentially reach between $8 and $10 by the end of 2025, citing its resilience and strong fundamentals.

In summary, while the crypto market is facing short-term challenges, particularly among altcoins, some experts anticipate a rebound in the latter half of the year.