Crypto Market Faces Continued Downturn

Bitcoin Slides as Crypto Market Declines

On Tuesday, the erratic movements in the cryptocurrency market persisted, nudging bitcoin closer to its lowest point in months. By early afternoon, bitcoin's value had dropped to $93,600, marking a 2% decrease over the past day and a 10% drop over the previous week.

The wider cryptocurrency sector, as measured by the CoinDesk 20 Index, fell by 4% within the last 24 hours. Solana experienced a sharp 16% downturn, grappling with the repercussions of a meme coin market that seems to have reached a notorious climax, notably involving an incident with Argentine President Javier Millei over the weekend. This resulted in a rug pull, leading to solana's 35% decline over the past month, erasing its gains since the post-Trump election period.

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