The last 24 hours have not been kind to bullish crypto investors, as most major digital assets have seen a decline. Bitcoin (BTC), for example, has fallen to around $96,000.
The situation is even worse for many popular altcoins such as Ripple (XRP), Solana (SOL), Dogecoin (DOGE), and others. The meme coin sector has also been under a lot of pressure, with several tokens experiencing double-digit declines.
The past week has been quite turbulent for the major cryptocurrency, with its price reaching a high of almost $99,000 on February 14 before falling below $95,000 on February 12. The fall came after the US Bureau of Labor Statistics released Consumer Price Index (CPI) data for January, which showed a higher-than-expected inflation rate. This caused the entire crypto market to experience a sharp decline.
In contrast to a volatile trading week, the weekend saw BTC trading flat in the $97,000-$97,500 range.
However, at the start of the new week, selling pressure picked up again, causing BTC to fall as low as $95,800. In the following hours, BTC recovered slightly to around $96,100 (based on CoinGecko data).
BTC Price & Market Dominance
Current BTC Price: $96,100
BTC Market Cap: $1.906 trillion
BTC Market Dominance: 59.7%
Some major altcoins have seen significant declines in the last 24 hours:
Ripple (XRP): Down 3%
Solana (SOL): Down 4%
Litecoin (LTC): Down 5%
In contrast, several other altcoins have shown slight gains, including Cardano (ADA), Ethereum (ETH), and TRON (TRX).
The meme coin sector also saw a big drop, with Dogecoin (DOGE), Shiba Inu (SHIB), and Official Trump (TRUMP) all in a downtrend. Some lesser-known tokens like MEOW (MEOW), ai16z (AI16Z), and Ket (KET) fell more than 10%.
The total crypto market cap is now around $3.19 trillion, down 0.88% in a day.
