Bitcoin (BTC), after reaching a high of $73,777, has seen its largest sell-offs since early February. This downturn is inducing a cautious stance in investors, who now anticipate further price surges post the upcoming halving event. Alongside Bitcoin, various altcoins have also been suffering losses, with some, like Shiba Inu (SHIB), dropping close to 10%.
LUNA’s Price Takes a Tumble
LUNA Coin, known for its volatile pricing, has plunged 44% within a 13-day span. The downturn accelerated after Do Kwon’s extradition news, causing the price to slip below $1. If the bearish trend continues, LUNA may see a further decline to $0.8. Dropping below this threshold would lessen the prospects of a speculative rebound. The next price levels to watch for LUNA are $0.75 and $0.58, with a rebound to $1.05 being critical for a bullish reversal.
Floki Investors Face a Sell-off
Floki Coin has also been hit hard post its all-time high, retracting by 33.6% in a matter of three days. The decreasing Bitcoin prices have further eroded the risk appetite for altcoins, with meme coins like Floki experiencing even faster exits. If the negative trend persists, Floki’s valuation might drop to $0.0001529, and potentially to $0.000137.
XRP Struggles Amidst Market Turbulence
XRP Coin has been one of the least fortunate in terms of gains among top cryptocurrencies, aside from meme coins and stablecoins. After peaking similarly to the heights observed in early November, it continues on a downward trajectory, with potential slumps to $0.58. If the sell-off deepens, the levels of $0.54 and $0.5 may come into play, with a chance of descending further towards $0.46.