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

Bitcoin recently dropped below $95,000 for the first time in six months, prompting speculation that the crypto market is entering a bear phase. Alongside this decline, Ethereum fell nearly 7% to around $3,200, and Solana suffered an even sharper drop, falling over 8% to about $2.30. Altcoins have experienced especially significant losses, with traders facing substantial liquidations, totaling $1.36 billion in futures positions lost overnight. The downturn appears related to diminishing institutional demand amid macroeconomic uncertainties. Despite some continued inflows into cryptocurrency through newly launched spot ETFs, such as the XRP ETF with a strong debut, the overall crypto landscape reflects a tough fourth quarter. As the market grapples with these challenges, analysts suggest a cautious outlook approaching the end of the year.

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