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Cryptocurrency News Articles

Why Are Bitcoin, Ethereum, Solana & XRP Falling?

Feb 19, 2025 at 03:05 pm

Bitcoin's price has dropped below the key $95,000 support level, causing a ripple effect across the crypto market. As a result, other cryptocurrencies

Why Are Bitcoin, Ethereum, Solana & XRP Falling?

Bitcoin price dropped below the crucial $95,000 support, triggering a wave of sell-offs in the crypto market. As a result, other cryptocurrencies like Ethereum, Solana, and XRP also witnessed a decline.

Multiple factors are driving this market downturn, including:

Macro-level anxiety gripped the markets as Donald Trump prepared to take the presidency. However, markets reacted negatively to the lack of pro-crypto developments, such as the absence of a Strategic Bitcoin Reserve program.

Moreover, the rug pull of the meme coin, LIBRA, created a wave of negative sentiment toward Solana. This incident, coupled with the massive sell-off, drained liquidity from the crypto market.

Despite Bitcoin mining activity dropping to lows not seen since October 2022, the cryptocurrency managed to hold above the $90,000 price level.

However, the broader crypto market faced heavy losses, with the total market capitalization dropping by about $20 billion in 24 hours. XRP price fell below the crucial $0.04 support, while Solana dropped below $20.

Original source:techjuice

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