Major cryptocurrencies, including Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA), have experienced significant declines over the past week, dropping between 8% and 16%. Bitcoin fell below the $100,000 mark, settling at $96,600. This downturn is attributed to a broader risk-off sentiment in the market, influenced by reversals in U.S. tech stocks and waning institutional confidence. Ethereum saw a 12% weekly drop to $3,182, while Solana plunged 16.5% to $140, and XRP decreased by 8.8% to $2.25. According to research firm 10x, the market has entered a bear phase, with ETF inflows slowing and long-term holders selling off assets. Technical analysis indicates potential further declines for Bitcoin if it breaches the support level between $93,000 and $95,000.
Major Cryptocurrencies Plunge 8–16% Amid Market Weakness
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