The cryptocurrency market faced a bearish trend on Wednesday, with the market capitalisation shedding 5.6 percent to fall to $2.60 trillion as of 1340 hours GMT. Bitcoin, the largest cryptocurrency, shed 5.06 percent to reach $58,990. With this decrease in price, the market capitalisation of the biggest cryptocurrency has reached 1.11 trillion. Likewise, ether (ETH) price shed 4.50 percent to reach $4,000. With this decrease in price, the market capitalisation of ETH has reached $469.4 billion. Similarly, XRP price shed 8.06 percent to reach $1.02. The market capitalisation of XRP stands at $102 billion after this decrease. Likewise, cardano (ADA) price shed 8.03 percent to reach $1.99.