The digital currency market is experiencing a downturn following the release of the Hinman Emails, with Ethereum being the focus after a 1.2% drop in price to $1,733.13 in the past 24 hours. This decline is significant considering Ethereum's earlier bullish run, and the total trading volume in the past 24 hours is $7 billion.

The bearish sentiment towards Ethereum may be due to its mention as a favored digital currency in the Hinman Emails, which indicate that the SEC favored Ethereum over other digital currencies. However, the ongoing selloff may be a knee-jerk reaction from the market, and as more experts analyze the Hinman documents, a market rebalancing may occur.