Altcoins News
By Pankaj K
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Bitcoin hit rock bottom Saturday. The world's largest cryptocurrency tumbled to just above $75,000, marking its lowest point since April and triggering a massive selloff across…
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The weekend bloodbath caps off what's been a brutal two-week stretch for crypto investors. Bitcoin started this mess last Sunday when it dropped from $89,000 to $86,000 - the…
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Friday gave traders hope. Bitcoin recovered some ground while precious metals markets went crazy.
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But Saturday? Total disaster. The cryptocurrency plunged again, falling sharply to that $75,000 level that has everyone freaking out.
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Ethereum got hammered even worse, if that's possible. The second-largest crypto by market cap crashed from around $2,800 down to $2,250 - a gut-wrenching fall that had traders…
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Other altcoins basically followed Bitcoin off the cliff. Solana dropped 9%, Monero fell 10%, and Litecoin, Sui, Chainlink, and Dogecoin each lost about 5%.
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The total crypto market cap? Down $200 billion to $2.7 trillion.
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That Fed decision on Wednesday really messed things up. When Jerome Powell and company decided to halt interest rate cuts, crypto investors got spooked.
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And then there's the Middle East situation. U.S. Navy movements toward Iran on Thursday added another layer of fear to an already nervous market.
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Trading platforms couldn't keep up with the chaos. Binance and Coinbase both reported massive spikes in transaction volumes as traders either tried to buy the dip or cut their…
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Coinbase actually had some technical issues Saturday afternoon because so many people were trying to trade at once.
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Some big players aren't panicking though. MicroStrategy announced February 1 that they're not changing their Bitcoin strategy despite the crash.
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Retail investors? Mixed bag. Reddit and Twitter lit up with debates about whether this is the bottom or if things get worse from here.
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Kraken published a report February 1 trying to put things in perspective. They pointed to historical patterns showing recoveries after big crashes, but admitted nobody really…
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Market analysts are watching the next few days closely. Without clear signals from major financial institutions, crypto remains vulnerable to more wild swings.
The Currency Analytics
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