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

Bitcoin's price fell below $95,000, marking a six-month low, while Ethereum and Solana faced even more severe declines, leading to $1.36 billion in futures liquidations. Ethereum dropped nearly 7% to around $3,200, significantly below its August peak of $4,946. Solana's value plummeted by over 8%, pricing it at $2.30, with losses exceeding 52% from its January high of $293. The trading atmosphere indicates a potential bear market, driven by a drop in institutional demand amid macroeconomic uncertainties. The overall crypto market has decreased over 4%, bringing the total market value to $3.35 trillion. Experts note that the current environment constitutes one of the worst performances in the fourth quarter for cryptocurrencies. Trading behaviors indicate a risk-off sentiment as both retail and institutional investors are repositioning their strategies, leading to fears of more significant sell-offs ahead. The crypto landscape is further complicated by recent significant outflows from exchange-traded funds and increased selling pressure from large holders.

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