Despite Bitcoin maintaining stability in a narrow trading range for the second consecutive week, the weakening of risk appetite continues to put pressure on major altcoins.
According to CoinGecko, XRP, Solana, and Dogecoin fell by 5%, 5.9%, and 7% respectively on that day.
This adjustment coincides with Bitcoin's brief decline on Thursday, which triggered a wave of liquidations across the market.
MEXC Research's chief analyst Shawn Young attributed the recent market pullback to investors' 'cautious sentiment due to thin summer liquidity'.
