The crypto market saw a wave of caution on February 24 as Bitcoin prices dropped back to around $95,000. Ethereum, Solana, and XRP also saw their prices decrease by 1%-5%, following the trend of Bitcoin. The meme coin market also entered the red zone on Monday, reflecting the overall market volatility.
According to CoinMarketCap, the global crypto market cap was down over 1%, reaching $3.15 trillion. Coinglass data showed that over $191 million was liquidated in the past 24 hours, indicating market volatility. Bitcoin’s price slipped to $95,534.42, witnessing a 1% decline. Ethereum’s price dropped by 2% to $2,710, while XRP fell nearly 2.5% to $2.48. Solana’s price also pulled back by 5.5% to $160.78.
Meme coins like Dogecoin, Shiba Inu, and Pepe Coin also saw declines in their prices, following the broader market trend. Despite the volatility, some cryptocurrencies like Sonic, Cronos, and Monero experienced gains, while others like Raydium, Hyperliquid, and Story faced losses. Despite the market’s current state, the analyst ‘Titan of Crypto’ remains optimistic about the future prospects of altcoins, stating that their comeback will be legendary.
In conclusion, the crypto market experienced a cautious wave on February 24, with Bitcoin and other major cryptocurrencies seeing a decline in prices. Market volatility led to liquidations worth millions of dollars, impacting the overall market cap. While some cryptocurrencies faced losses, others managed to gain despite the challenging market conditions. Analysts remain optimistic about the future of altcoins, suggesting that a comeback is on the horizon. As the market continues to fluctuate, it is essential for traders and investors to stay updated and make informed decisions.
