Why Bitcoin, Solana, and Avalanche Are Getting Pummeled Today
Today's price action across the broader cryptocurrency market hasn't been pleasant. Led by Bitcoin (CRYPTO: BTC), Solana (CRYPTO: SOL) and Avalanche (CRYPTO: AVAX), the overall market has sunk more than 4.1% over the past 24 hours, as of 3:30 p.m. ET on Thursday.
Bitcoin's 24-hour dip (unsurprisingly) matched the market, at a 4.1% decline. However, Solana and Avalanche saw more significant losses today, sinking 6.9% and 7.5%, respectively, over the same time frame.
This decline is notable because it's one of the first such down days we've had thus far in 2023. Accordingly, with Bitcoin now trading around $22,000 at the time of this writing, it's clear investors are spooked by various sector-specific headwinds. Today, the cause for uncertainty appears to be increasing scrutiny from U.S. regulators.
Source Fool.com
