The recent decline in Bitcoin and altcoin prices can be attributed to several factors. Bitcoin's dominance has increased, drawing capital away from altcoins and causing their prices to drop. Additionally, significant liquidations in altcoin futures markets have intensified selling pressure, leading to further declines. Market corrections following rapid price increases have also contributed to the downturn, as investors take profits and reassess positions. These combined factors have resulted in the recent downturn across the cryptocurrency market.

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