Crypto Bulls Get Rekt as Ethereum, XRP Fall Harder Than Bitcoin

Bitcoin has dropped below $95,000, facing its lowest price in six months, while altcoins like Ethereum and Solana have suffered even greater losses. Within a 24-hour span, $1.36 billion in futures positions were liquidated, with long positions making up the majority. Ethereum's price fell to around $3,200, representing a 35% decrease from its August high of $4,946. Meanwhile, Solana is down over 52% from its peak of $293 earlier this year. Despite a newly launched XRP ETF attracting significant interest and $58 million in initial trading volume, these developments couldn't prevent the broader price slump. Analysts suggest the sector may be entering a bear market due to reduced institutional demand amidst ongoing macroeconomic instability. The overall crypto market capitalization has declined by over 4%, indicating significant bearish sentiment across major cryptocurrencies. The recent trends have traders and experts concerned about the continued selling pressure and potential future price declines in the crypto space.

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