Bitcoin News Update: Bitcoin Remains Steady While Altcoins Plunge Amid Market Sell-Off
- Bitcoin stabilizes near $93,555 amid market turmoil while altcoins hit multi-month lows due to $801M in 24-hour liquidations. - A 13-year dormant Satoshi-era wallet triggering 2% price drop and fear index hitting 14/100 heightens bearish concerns. - Cboe's perpetual-style crypto futures and global stimulus packages may reshape liquidity as Bitcoin tests $100,000 threshold. - Galaxy Digital notes algorithmic deleveraging rather than systemic weakness, with $3B in DeFi borrows signaling structural shifts.
Bitcoin Remains Stable as Altcoins Experience Significant Downturn Amid Market Volatility
Despite turbulent market conditions, Bitcoin (BTC) has managed to hold its ground near $93,555, even as intense selling has driven altcoins to their lowest points in months. Bitcoin's resistance to further losses has sparked discussion among investors—some interpret this as a sign of a potential market bottom, while others caution that bearish trends could persist. The total value of the cryptocurrency market, now at $3.12 trillion, has
One major factor behind the recent market swings has been the reactivation of long-dormant wallets.
Amid the turmoil, some investors maintain a cautious sense of optimism. Galaxy Digital's recent analysis points to a trend toward clearer leverage frameworks, with DeFi platforms such as
Looking forward,
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.
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