Crypto Market Drops as Bitcoin Falls Below $41K; Meme Coins See Brief Rally on Musk Twitter Deal
• Crypto market started the week in the red, with Solana's SOL and Cardano's ADA leading losses • Bitcoin lost $41K support level; traders expect further drops to $38K which could lead to more altcoin selloffs • Meme coins Dogecoin and Floki see 12% popup on adoption hopes after Musk's Twitter takeover • Terraform Labs, developer of failed TerraUSD stablecoin, has filed for bankruptcy with $100M-$500M assets and liabilities • Bitcoin and ether CME futures premiums over spot prices have narrowed significantly from yearly highs