Crypto Market Downturn: BTC, SOL, and PEPE Prices Plummet
Last week, the cryptocurrency market experienced a significant downturn, with Bitcoin (BTC), Solana (SOL), and Pepe (PEPE) being among the most impacted assets. The global crypto market cap lost over $280 billion in a massive 10% drop to $2.32 trillion, causing concern among investors and traders.
Bitcoin (BTC) Slips to 1-Month Low
Bitcoin started the week on a positive note, reclaiming the $70,000 threshold and closing with a 3.25% increase. However, the following days saw a series of declines, with BTC dropping to a one-month low of $61,596 on April 13. Despite some recovery, Bitcoin remains in a downtrend, struggling to reclaim the $65,000 territory.
Solana (SOL) Breaks Below 50-Day EMA
Solana’s price decline was much steeper than Bitcoin’s, with a 21.19% drop from April 11 to 13. The cryptocurrency broke below the crucial 50-day EMA and lost $19 billion from its market cap since April 8, trading at $139.94 at the reporting time.
Pepe (PEPE) CCI Drops to 9-Month Low
Pepe also experienced a significant price drop, reaching a one-month low below the $0.000004 support. The meme coin’s CCI dropped to -245, the lowest value in nine months, suggesting that Pepe is undervalued with room for growth.
Despite the challenges faced by BTC, SOL, and PEPE, investors remain optimistic about the long-term potential of these assets. The cryptocurrency market continues to be volatile, with price fluctuations impacting both seasoned traders and new investors.
