Bitcoin Drops to $96K Amid Market Turmoil: Altcoins and Meme Coins Face Sharp Declines

Bitcoin Drops to $96K as Altcoins Face Heavy Losses

Crypto Market Struggles Amidst Price Volatility

The cryptocurrency market faced another turbulent day as Bitcoin (BTC) dropped to $96,000, while major altcoins like XRP, Solana (SOL), and Dogecoin (DOGE) saw significant losses. Meme coins were hit particularly hard, with some losing over 10% of their value in the past 24 hours.

Bitcoin’s Rollercoaster Ride

Bitcoin has experienced extreme volatility over the past week. On February 14, BTC reached a high of $99,000, only to dip below $95,000 on February 12. The latest decline comes after the U.S. Bureau of Labor Statistics released higher-than-expected inflation data, triggering a negative reaction across financial markets, including crypto.

Altcoins and Meme Coins Take a Hit

As Bitcoin struggles, altcoins have faced even bigger losses:

Ripple (XRP) and Solana (SOL) registered notable declines.
Meme coins, known for their high volatility, saw some of the steepest drops, with losses exceeding 10%.

Weekend Stability Before the Dip

Over the weekend, Bitcoin maintained a relatively stable range between $97,000 and $97,500. However, as the new trading week began, BTC dropped to $95,200, before slightly recovering to $96,100.

What’s Next for Bitcoin and the Crypto Market?

With ongoing macroeconomic uncertainties, including inflation concerns and regulatory developments, the crypto market remains unpredictable. Traders and investors are closely watching Bitcoin’s next move, as it could dictate the overall market sentiment for the coming weeks.

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