Cryptocurrency Shock: Bitcoin, Ethereum, and Solana Suddenly Drop - What’s Behind It?

Earlier today, the prices of Bitcoin, Ethereum, and Solana suddenly fell, sparking speculation within the cryptocurrency community. Just a few days ago, Bitcoin's price had just broken through the $105,000 mark, reaching a new high. The leading cryptocurrency, Bitcoin, has dropped 1.7% in the past 24 hours, closing at $102,414. This unexpected drop has raised concerns about the short-term market direction after a sustained rise.

Ethereum also saw a significant decline, dropping 2.2%, with a trading price of $2,451.82. Previously, Ethereum had experienced a strong weekly rebound, with an increase of over 36%. The reason for this violent fluctuation is that traders, while paying attention to the overall market trend, are eager to cash out, leading to profit-taking.

Solana had also shown strong momentum in recent trading days but was not spared. The token fell by 2.6%, with a price drop to $170.86. Like the overall trend of large digital assets, its decline reflects a broader trend, indicating that the market has entered a cooling period after several days of bullish movement.