Altcoins News

Story: Bitcoin Drops Below $64,500 as Altcoins Tank Hard

By Bruce Buterin

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Bitcoin's weekend rally crashed Monday. The crypto fell below $64,500 for the first time in over two weeks after legacy futures markets opened, triggering a sharp selloff that…

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BTC had been riding high after briefly touching $71,000 over the weekend - its first visit to those levels in about a week. But the party didn't last long.

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Bitcoin surged back toward $69,000 over the weekend, but it couldn't break free from its trading range.

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The President announced a new 10% global tax following a Supreme Court decision against certain tariffs, with plans to bump it up to 15% later.

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Ethereum took a beating too. ETH fell from nearly $2,000 to $1,850 before finding some footing above $1,900.

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The token dropped more than 2% to $1.40, joining BNB, DOGE, ADA, and LINK in the red. But the real carnage hit BCH, SOL, and HYPE - each one down as much as 6%.

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PIPPIN bucked the trend hard, surging over 23% to exceed $0.72. The token's rally stood out like a beacon in a sea of red, proving that even in brutal market conditions, some…

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Trading activity exploded on major exchanges as the selloff intensified. Binance reported a massive surge in volume, particularly in BTC/USDT pairs, as traders scrambled to react…

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MicroStrategy stayed put through the chaos. The company didn't sell any Bitcoin despite the sharp drop, sticking to its long-term strategy.

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JPMorgan analysts are watching Trump's tax proposal closely. They think the policy could create more volatility as investors try to figure out what it means for their portfolios.

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CryptoQuant noted that smaller altcoins saw trading volumes spike during the selloff. Tokens like HYPE and SOL experienced sharp increases in activity as traders repositioned…

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Several exchanges adjusted their operations to handle the surge in activity. Kraken and Bitstamp temporarily increased withdrawal limits to prevent bottlenecks as users rushed to…

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Coinbase CEO Brian Armstrong tried to calm nerves during a podcast appearance earlier this week.

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Grayscale Investments didn't flinch either. The firm confirmed it would continue regular Bitcoin Trust purchases on February 23, undeterred by the price drop.

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Binance made some risk management moves too. The exchange temporarily reduced leverage limits on certain pairs, including BTC/USDT, to protect users from getting wiped out in the…

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