Memecoins PEPE, DOGE and TRUMP led altcoin losses, while MORPHO and ZEC outperformed over the past week.
The crypto market continued to exhibit weakness on Tuesday morning, broadly following a tech selloff across U.S. equities and a correction in the price of precious metals.
Bitcoin trades at $68,000, down 1.25% since midnight UTC, while Nasdaq futures and gold lost 0.55% and 2.4% respectively over the same period.
Altcoins also lost ground as popular memecoins PEPE, DOGE and TRUMP led the drawdown, losing between 3.5% and 4.5%.
The tech selloff has been driven by fears around artificial intelligence and how it might disrupt several industries. Bitcoin has been closely tied to Nasdaq since Feb. 3, with the correlation coefficient indicator rising from negative 0.68 to positive 0.72 over the past two weeks.
Gold, meanwhile, is currently trading at $4,928 after failing to establish a level of support above $5,000. The precious metal hit a record high of $5,600 on Jan. 28 before a historic 21.5% correction over the subsequent four days.
