Crypto Market Slumps as Institutional Sales Weigh Down Bitcoin Prices
Bitcoin prices have been weighed down by institutional sales linked to recently launched ETFs, causing a more than 20% decline for some tokens in the past week. Solana's SOL and Avalanche's AVAX both experienced drops of 7% and 9% respectively in the past 24 hours, reversing gains from a meme coin-led revival in December. Dogecoin retraced its entire weekend move to 9 cents driven by speculations of its adoption on social application X's upcoming payments service. Bitfinex analysts predict a considerable price correction even further down from current levels across the market, with some traders expecting bitcoin to fall as low as $38,000 in the coming weeks.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Bitget announcement on adjustment of PNUTUSDT perpetual trading price precision
Bitget announcement on adjustment of PIXELUSDT perpetual trading price precision
GODSUSDT now launched for futures trading and trading bots
ChatGPT Predicts Shiba Inu (SHIB) Price For March 1, 2025

Trending news
MoreCrypto prices
More








