Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
The cryptocurrency market saw continued declines across most sectors in the past 24 hours. Bitcoin slipped 1.69% to around $112,000, while Ethereum dropped 3.71%, falling below the $4,000 mark. Most sectors mirrored the downturn, DeFi fell 2.14%, Layer 1 dropped 3.02%, and Layer 2 slid 4.30%. However, the SocialFi sector stood out with a modest 0.4% gain, led by Toncoin’s 1.39% rise. Meme tokens like MemeCore (M) and OFFICIAL TRUMP (TRUMP) also defied the broader trend, posting gains of 4.6% and 5.84%, respectively. Meanwhile, on-chain data shows the bears gaining ground. An OG whale, who previously made $8.3 million during the October 11 crash, has added fresh short positions on Ethereum, signaling renewed downside pressure.
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