In brief
- Major altcoins fell sharply Thursday, with XRP, Solana, and Dogecoin each losing more than 5%.
- Analysts cite thin summer liquidity, rising U.S. yields, and excess leverage as key market headwinds.
- Bitcoin held steady despite a wave of liquidations, with over $250 million wiped daily for five straight days.
Fading risk appetite is weighing on major altcoins, even as Bitcoin holds steady in a narrow trading range for a second week.
XRP, Solana, and Dogecoin were down 5%, 5.9% and 7%, respectively, on the day according to CoinGecko.
The correction coincides with Bitcoin’s brief dip on Thursday, a move that prompted a wave of liquidations across the market.
Speaking with Decrypt, Shawn Young, Chief Analyst of MEXC Research,…
