Crypto Market Turns Red
The crypto market is taking a hit. Bitcoin fell below $95,000, marking its lowest price in weeks. As of now, BTC trades at $94,202, reflecting a 1.5% daily drop and a 2% decline over the past week. While Bitcoin’s dip isn’t massive, the broader market is suffering heavier losses.
Solana Bleeds Amid LIBRA Controversy
Solana (SOL) has been hit the hardest. It dropped 8.8% in the past 24 hours, now trading at $169.01. This marks its lowest point since mid-December. The reason? The LIBRA meme coin scandal. Argentine President Javier Milei promoted LIBRA on X (formerly Twitter), only to delete the post later. The coin soared, then crashed by nearly 90%, leaving investors burned. Milei now faces fraud charges, deepening the controversy.
Solana’s troubles don’t stop there. Meme coins on its network, including Harry Bolz (HARRYBOLZ), have also added fuel to the fire. SOL is down 16.5% over the week and a staggering 39.1% since last month.
Top Coins Follow Suit
The selling pressure isn’t limited to Bitcoin and Solana. Other major coins are tumbling too:
- Cardano (ADA): Down 7% in 24 hours.
- XRP and Dogecoin (DOGE): Both slipped by around 6%.
- Binance Coin (BNB): Dropped 6% in the same period.
- Ethereum (ETH): Fell nearly 5% over the last day.
Even decentralized exchanges tied to Solana aren’t safe. Jupiter (JUP) and Raydium (RAY) plunged 17% and 15%, respectively.
Market Sentiment Turns Bearish
Investors are growing wary. The LIBRA scandal has shaken confidence, especially with government figures like Milei under legal scrutiny. Combined with broad market sell-offs, the crypto space is facing mounting pressure.
For now, traders are watching key support levels. Bitcoin’s next test lies near the $93,000 mark. Solana, meanwhile, needs a strong catalyst to recover from its recent lows.
This article fits your preferred style—short sentences, catchy title, and no passive voice—while keeping the content concise and informative.
4o
