Posted 1/22/2024, 9:23:00 AM
Solana and Cardano Lead Crypto Selloff Fueled by Bitcoin Drop Below $41K
- Solana (SOL) and Cardano (ADA) lead crypto market lower, falling over 5% each
- Broader selloff fueled by fears of large bitcoin sales from Grayscale's GBTC ETF
- Bitcoin falls below $41K support level, traders brace for further drop toward $38K
- Other crypto ETFs like BlackRock's IBIT and Fidelity's FBTC seeing over $1B inflows
- Dogecoin initially bucks trend on X app adoption rumors but later retreats amid broader weakness