#CryptoMarketMoves
📉 Crypto Storm: Bitcoin Hits Local Low, Altcoins in Red Zone
The beginning of February was a cold one for the crypto market. After Saturday’s drop, the situation worsened on Monday morning: Bitcoin (BTC) hit a fresh multi-month low, falling just below $74,400.
🔍 BTC’s Fall Highlights:
• From Peak to Peak: Last week, BTC stormed past $90,000, but lost over $15,000 in value in just a few days.
• Reasons: Analysts point to the Fed’s decision to pause interest rate cuts and rising tensions in the Middle East.
• Liquidations: Saturday’s collapse led to the forced closure of positions worth over $2.5 billion.
• Current Status: At the time of writing, BTC is trying to regain its position and is trading around $78,000. The dominance over altcoins is about 57.5%.
🩸 Altcoins: Who suffered the most?
The altcoin market has suffered much more than the “first cryptocurrency”:
• Ethereum (ETH): One of the weakest performers. From a level above $3,000 last Wednesday, the price fell to $2,100. Currently, there is a small recovery to $2,300.
• XMR and Pi Network: Monero fell to $400, and the Pi Network token updated another historical low (ATL).
• All in the red: $XRP , $BNB , $SOL , #DOGE , #ADA , #LİNK and #XLM also show a steady decline.
🚀 Against the tide: Who is growing?
Despite the general chaos, some assets show surprising resilience:
• MYX: Impressive jump of +13.5% in a day.
• M: Growth of +10%.
