Crypto Carnage: Bitcoin Bounces While Solana Sinks Like a Lead Balloon!

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Ah, Bitcoin! The eternal phoenix that seems to rise from the ashes of despair with all the grace of a drunken swan. Just yesterday, it decided to take a leisurely dip into the abyss, plummeting to a staggering $73,000-its lowest since the early days of November 2024, as if it were auditioning for a role in some tragicomic play.

And what of our dear altcoins? They joined the fray with the kind of enthusiasm one might expect from a troupe of clowns tumbling out of a tiny car. Yet, among them, the unfortunate SOL, HYPE, and CC bore the brunt of this chaotic carnival, suffering like sad clowns at a forgotten circus.

BTC’s Latest Rollercoaster

Just last week, Bitcoin was strutting its stuff, winking at the $90,000 resistance like a bold lover before the first FOMC meeting of the year. But once the news broke that the Fed wouldn’t be slashing rates, BTC seemed to lose its swagger, slipping into a melancholic slump that made even the most optimistic trader wince.

And then, like a poorly timed plot twist, the escalating tensions in the Middle East turned Thursday into a disaster film. Bitcoin nosedived to $81,000, only to claw its way back to $84,000 before diving again like an overzealous diver-this time below $75,000. A valiant attempt at recovery on Monday fizzled out at $79,000, leaving traders feeling as though they’d just watched a soap opera finale.

Tuesday brought with it a grand catastrophe: a plunge to a 15-month low of $73,000, followed by a feeble bounce to just above $76,000-still down 3% for the day, and down a whopping 18% monthly. One can only wonder if Bitcoin is playing the long game in a quest for sympathy.

As for market capitalization, it’s taken a nosedive to $1.525 trillion, and its dominance over the altcoins has slipped to a mere 57.3%. Talk about a fall from grace!

SOL Below $100

Meanwhile, the larger-cap altcoins have been caught in the crossfire, as Ethereum went from a dazzling $3,000 to a somber $2,100 within a week, only to muster a half-hearted rebound to $2,280. BNB has plummeted to $760 while poor SOL has sunk beneath the $100 mark, sporting a daily decline of 7% as though it were competing for the title of “Most Dramatic Cryptocurrency.”

Even the once soaring HYPE has taken a nosedive, plummeting 11% to a mere $33. CC and ZEC are wallowing in the depths of despair, while XMR appears to have found a hidden treasure amidst the wreckage.

The cumulative market cap of all crypto assets has seen over $70 billion vanish in a single day, leaving us all to ponder the existential crisis of the crypto world, now down to $2.65 trillion. It seems we’re all just players in a cosmic joke, waiting for the next punchline.

 

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2026-02-04 12:15