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

Bitcoin has dropped below $95,000, hitting a six-month low, while altcoins, particularly Ethereum and Solana, have seen even larger declines. Ethereum's price fell almost 7% to around $3,200, over 35% below its August peak, and Solana’s price plummeted to $2.30, representing an 8% drop in a day and over 52% below its January record. This downturn aligns with a broader trend in the crypto market, where $1.36 billion in futures positions were liquidated amid fears of a bear market. The overall crypto market cap has declined by more than 4% to approximately $3.35 trillion, driven by declining institutional demand and increased selling pressure, resulting in significant losses for traders with long positions. Experts suggest that the combination of macroeconomic uncertainties and selling pressures from major investors indicates a sustained bearish trend in the cryptocurrency market.

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