Crypto majors slid as much as 14% in the past 24 hours as a Monday sell-off extended into Tuesday amid generally bearish sentiment and the lack of actionable catalysts that may help support the market.
Solana’s SOL fell 14% — bringing 7-day losses to over 20% — while dogecoin (DOGE), xrp (XRP) and ether (ETH) fell more than 8%. Bitcoin lost the $92,000 level for the first time since late November, threatening a potential downside break of the multi-week consolidation between $90,000 and $110,000
Overall market capitalization fell 6.6%, while the broad-based CoinDesk 20 (CD20), a liquid index tracking the largest tokens, dropped more than 7%.
Traders said the current bearish sentiment could be overblown and macroeconomic decisions were key to support market growth.
“Bitcoin, Ethereum, and Solana shouldn’t be trading this far below their all time highs,” Jeff Mei, COO at crypto exchange BTSE, said in a Telegram message. “On…
