These Altcoins Extend Steep Corrections as Bitcoin Slips Toward $95K (Market Watch)

View in browser These Altcoins Extend Steep Corrections as Bitcoin Slips Toward $95K Bitcoin's underwhelming price performance continues as the asset dropped to a 6-day low of just over $95,000 earlier today. At the same time, many altcoins have continued to chart substantial losses, led by Solana, Chainlink, Avalanche, HBAR, and SUI. Price Action Total Mkt Cap: $3.27 Trillion | 24HR Liquidations: $270M | Sentiment: Neutral  Thanking our Newsletter sponsor: Credefi: the ultimate RWA gateway. Connecting crypto lenders with SME borrowers since 2021. Discover predictable yields on your idle crypto assets. Bitcoin The primary cryptocurrency slumped hard last Wednesday after the release of the US CPI numbers for January and dumped toward $94,000. However, it bounced off almost immediately and jumped past $98,000. After another retracement, BTC skyrocketed on Friday and tapped $99,000 for the first time in just under a week. Nevertheless, the asset couldn't sustain its momentum and started to lose value gradually in the following days. The weekend was somewhat sluggish, with BTC trading mostly around $97,500. The losses extended on Monday and Tuesday morning, as the cryptocurrency slipped to just over $95,000 earlier today. This became its lowest price tag in six days. As of now, it stands at around $95,600, but it's still around 0.5%-1% down on the day. Its market capitalization has plunged below $1.9 trillion, while its dominance over the alts stands close to 58%. Altcoins Many alternative coins have charted notable price losses over the past few days, and the landscape has only worsened since yesterday. Solana is at the forefront of this adverse trend. SOL has plummeted below $170 – a multi-month low – as the meme coin frenzy has faded. The asset has lost 9% on a daily scale and more than 18% since this time last week. Painful declines are also evident from the likes of SUI, AVAX, LINK, and HBAR, with price drops of up to 7%. The situation with the mid-cap alts is no different, as TRUMP, APT, and AAVE have charted similar declines. The total crypto market cap has shed over $50 billion since yesterday and has dumped to $3.270 trillion on CG. Best Performers Maker (MKR) +9.5% Mantle (MNT) +6.1% Tokenize Exchange (TKX) +4.8% Worst Performers Telcoin (TEL) -13% Jupiter (JUP) -12% Injective (INJ) -10% The Crypto News You Can't Miss Hyper Foundation, the entity behind the popular decentralized finance (DeFi) protocol, Hyperliquid, has announced the launch of HyperEVM, in a significant step toward integrating general-purpose programmability into its financial system.. Read the full story. The LIBRA token crash has sparked outrage, with Pump.fun's co-founder demanding accountability and safer practices in the meme coin space. Read the full story. The Solana hype appears to have fizzled out as SOL continues to tank amid a meme coin meltdown. Read the full story. Bitcoin miners contribute $4.1B to the U.S. economy, create 31,000+ jobs, and help stabilize energy grids through flexible power consumption. Read the full story. Your Daily Crypto Did You Know Did you know that the ERC-721 token standard enables the creation of non-fungible tokens (NFTs) on Ethereum, powering the multi-billion dollar NFT market? CryptoPotato 39 Ludgate Hill, London United Kingdom You received this email because you signed up on our website or made purchase from us. Unsubscribe