As $BTC tumbles 2.5%, the altcoin market feels the heat even more, with meme coins and other tokens posting losses exceeding 10%. This cascading effect underscores the strong correlation between BTC and the broader crypto market, where:
1. PEPE plunged -13.06%
2. BONK down -12.40%
3. DOGE dropped -7.23%
4. WIF dipped -11.19%
5. SHIB fell by -8.71%
6. FLOKI sank -12.01%
When BTC sneezes, altcoins catch the flu. This pattern reflects risk-off sentiment, where traders exit volatile assets like meme coins in response to Bitcoin's bearish movements. Historically, minor BTC corrections trigger amplified drops in smaller-cap tokens, as liquidity drains faster from these markets.
With Bitcoin sliding below $67,000, traders might rotate into stablecoins or reduce exposure to altcoins, which often lack the resilience BTC displays during downturns. Altcoins could face further losses if BTC doesn't find solid support soon. Stay vigilant, especially when the king of crypto drags the entire market into red territory!
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