Crypto majors are deep in the red following a broad Tuesday selloff across markets; BTC -3% at $88,200; ETH -6% at $2,905, SOL -2% at $127; XRP -2% to $1.88. MYX (+11%) and ZRO (+10%) led top movers. Bitcoin and Solana both broke below key technical support.
The crypto market saw fresh selling pressure on Tuesday, dragged down by a widespread decline in U.S. equities, with Bitcoin and Solana both breaking below key technical support levels and market sentiment turning cautious.
Bitcoin dropped roughly 3% intraday, falling below the $90,000 mark to $88,200; Ethereum saw sharper losses, down 6% to $2,905; Solana slipped 2% to $127; XRP also shed 2% to $1.88.
Notably, both Bitcoin and Solana broke below key technical support levels, suggesting short-term selling pressure is accelerating. However, MYX bucked the trend with an 11% surge and ZRO climbed 10%, standing out as rare bright spots.
Despite the headwinds, former U.S. President Donald Trump delivered remarks at the Davos forum, providing a modest boost to the crypto market. Meanwhile, MicroStrategy founder Michael Saylor announced another massive $2.13 billion Bitcoin purchase, continuing to execute his Bitcoin strategy. Analysts believe these long-term bullish signals could eventually provide market-bottom support after the current volatility subsides.
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