Bitcoin Drops Below $94K as Altcoins Face Steeper Losses

The crypto market sees widespread declines, with Solana hit hard by fallout from a controversial token launch and regulatory uncertainty looming.

Bitcoin's price has fallen to $93,600, marking its lowest level in weeks, with a 2% daily decline and a 10% drop over the past week.
Altcoins, including Solana, XRP, and Dogecoin, are experiencing sharper losses, with Solana dropping over 16% due to controversies in its ecosystem.
Argentine President Javier Milei faces fraud charges after promoting the LIBRA token, which collapsed in value shortly after launch, impacting Solana's reputation.
Institutional interest in Bitcoin remains strong, with new filings showing increasing investments in spot Bitcoin ETFs by sovereign entities and major financial institutions.
Market analysts predict potential volatility in the coming months, with a large Solana token unlock event and Bitcoin's support and resistance levels closely watched.