Crypto enters Extreme Fear as Market Declines 3-8%

The cryptocurrency market continues to face a downturn, with major assets falling between 3% to 8%. Bitcoin (BTC) dropped 3% to $104,500, while Ethereum (ETH) and Binance Coin (BNB) saw declines of 5% and 6% respectively. Solana (SOL) experienced the most significant drop at 8%, amidst a backdrop of increasing sell pressures. Conversely, some altcoins like Decred (DCR) surged by 111%, and Dash (DASH) and Internet Computer (ICP) also noted substantial gains. Overall liquidations exceeded $1.2 billion, with a significant majority being long positions. The Crypto Fear & Greed Index has now shifted into the 'Extreme Fear' territory. Furthermore, Balancer faced serious issues following a $128 million exploitation, leading to a halt on Berachain's activities due to cascading issues across Ethereum networks. In the latest industry developments, Hollywood.com is partnering with Crypto.com for an entertainment prediction market, while Ripple introduced prime brokerage services for digital assets in the U.S.

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