Altcoin Crash: $234 Billion Wipeout! Bitcoin Stays Strong!

Glassnode said the decline affected all sectors of the altcoin market, with minimal differences in the performance of individual assets, indicating a broad sell-off:

"Altcoins have posted their biggest drop in history as the market environment becomes more challenging. High volatility and pressure on coins could impact future market dynamics."
Against this backdrop, Bitcoin has demonstrated relative stability - the price of the first cryptocurrency fell to $93,000 last week, then recovered to $102,000, and is now hovering around $97,000, Glassnode experts reported.
Analysts attribute the asset’s volatility to macroeconomic factors, including the introduction of new US trade tariffs and a stronger dollar. The average purchase price for short-term Bitcoin holders is $92,200, which could be the level that determines the further movement of the BTC price.

Earlier, Abra Global CEO Bill Barhydt published a forecast according to which a large injection of liquidity into the American economy could give Bitcoin and major altcoins a boost.
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