Bitcoin slipped to $95K, marking a 6-day low, while altcoins like Solana, Avalanche, and Chainlink faced heavy losses. The crypto market shed over $50B.
Bitcoin Dips Below $95K Amid Market Uncertainty
Bitcoin’s price struggles continue as the leading cryptocurrency dropped to a six-day low of $95,000 earlier today. The decline follows a volatile week in which BTC briefly touched $99,000 but failed to sustain its momentum.
Last Wednesday, BTC plummeted toward $94,000 after the release of U.S. CPI data for January. The coin quickly rebounded, surging past $98,000, and reached a weekly high of $99,000 on Friday. However, a lack of buying pressure led to gradual losses over the weekend, with BTC hovering around $97,500.
Today’s drop to $95,000 marks its lowest point in six days. As of now, BTC trades at $95,600, down about 0.5%-1% on the day. Its market capitalization has fallen below $1.9 trillion, while its dominance over altcoins remains near 58%.
Altcoins Suffer Heavy Losses
The altcoin market has taken a significant hit, with many major cryptocurrencies experiencing steep declines. Solana (SOL) is leading the losses, plunging below $170, marking a multi-month low. SOL has dropped 9% in the past 24 hours and over 18% in the past week, as the meme coin frenzy fades.
Other notable losers include:
❌ SUI, AVAX, LINK, and HBAR: Down up to 7% in the past day.
❌ Mid-cap altcoins like TRUMP, APT, and AAVE: Posting similar declines.
The broader market downturn has resulted in a $50 billion loss in total crypto market capitalization, bringing it down to $3.15 trillion, according to CoinmarketCap.
Bitcoin’s Next Move: Key Levels to Watch
Technical analysis suggests Bitcoin is trading within a crucial range. A breakout above $97,000 could trigger a recovery rally. However, if BTC fails to hold above $95,000, a deeper correction toward $94,100 is possible.
Investors remain cautious as macro factors continue to influence crypto prices, and volatility remains high across the market.
