TON Drops to $1.93 as Altcoins Lag Behind BTC in Risk-Off Crypto Market

TON experienced a 4.5% drop to $1.93 amidst a wave of risk-off sentiment in the cryptocurrency market, with Bitcoin's price dipping below $100,000 temporarily. This decline comes after long traders faced approximately $1.6 billion in liquidations, compounded by a recent $128 million exploit on the Balancer platform that heightened concerns over the security of decentralized finance protocols. Despite some signs of stabilization and a consolidation range for TON between $1.92 and $1.94, the market remains cautious, with a critical support level at $1.87 that could lead to further losses if breached. On the other hand, reclaiming $1.95 may indicate a potential recovery for the asset. Overall, the broader altcoin market witnessed increased vulnerabilities during this turbulent phase, showing the fragility of market momentum and thin liquidity as key factors at play.

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