📉🚀 Crypto Crash: The Shocking Reason Why Bitcoin Plummeted & Altcoins Followed! 🙀😳💰
The digital currency market faced a brutal weekend with the overall crypto market cap crashing down 5.37% in the last 24 hours to $3.42 trillion. Bitcoin fell sharply along with major altcoins like Ethereum, Solana, XRP and even memecoins. Uncertainty in the overall market is being blamed.
Why is Crypto Crashing Today?
The recent stock market selloff, increased by the artificial intelligence app DeepSeek, seems to have leaked into the crypto economy. Traders like Arthur Hayes warn of an impending financial crisis leading to new stimulus measures by the Federal Reserve, worsening instability in the crypto market.
Bitcoin’s descent below $100K
The king of cryptos, Bitcoin, tumbled below $100,000 mark closing at $98,206.72 marking a 6.41% drop in the last 24 hours. This represents a sharp decline from its recent peaks.
Altcoins feeling the heat
Ethereum (ETH)
Ethereum lost 6.84% to $3,113.86, posting a 32% market cap surge at $375.25 billion with a trading volume of $22.02 billion.
Solana (SOL)
Solana dropped 11.42% to $228.87, with a market cap at $111.36 billion and a $6.17 billion trading volume that surged 50.31%.
XRP (XRP)
XRP dropped 7.30% to $2.90, recording a $6.09 billion trading volume over the past day.
Memecoins take a beating
While altcoins have struggled, memecoins have fared even worse with severe double-digit losses:
Official Trump (TRUMP): Fell 16.09% to $26.07, with a market cap of $5.21 billion and a $3.41 billion trading volume.
Official Melania Meme (MELANIA): Dropped 8.72%, now at $2.41, market cap at $416.87 million and $107.59 million trading volume.
MAGA (MAGAMemecoin): Crashed 44.16% down to $3.00, with a market cap of $132.17 million and a comparatively modest $3.85 million trading volume.
Fartcoin (FARTCOIN): Fell 24.66% to $0.9685, with a market cap of $968.49 million and trades a volume of $306.38 million.
Pepe (PEPE): Down 15.40% to $0.00001268, with a market cap of $5.33 billion and a trading volume of $924.37 million.
FLOKI (FLOKI): Dropped 11% to $0.0001226, with a market cap of $1.17 billion and a $190.74 million trading volume.
Widespread LiquidationÂ
Mass liquidations amounted to $667.57 million in 24 hours, with the largest single liquidation being $98.46 million in the BTC-USDT pair on HTX.
The crypto market is currently in a holding pattern, waiting for signals from the Federal Reserve, the global economy, or regulatory firmness. How much worse can it get before a recovery starts?
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2025-01-27 10:47