According to The Kobeissi Letter, since hitting a record high on December 16, 2024, the cryptocurrency market has evaporated its market value of US$1.3 trillion, a drop of 33%, equivalent to an average daily loss of US$15.5 billion for 84 consecutive days. The Kobeissi Letter pointed out that this marks the largest three-month market cap pullback in cryptocurrency history, with the current total crypto market value falling to its lowest level since November 6, 2024.