Last week was a true 'black February' for the crypto industry. According to Investing.com, the total market capitalization fell to $2.54 trillion, losing over 4% in just the last 24 hours. Bitcoin ($BTC ) tested a critical zone, and the fear and greed index dropped to the mark (extreme fear). The main drivers of the decline were macroeconomic uncertainty in the US and increased regulatory pressure in China.
As reported by ForkLog, the dominance of BTC has risen to 59.2%, which has literally drained liquidity from altcoins. However, as experts note, it is precisely during periods of such total pessimism that the best entry points for long-term investors are formed. This week showed: the market has transitioned into a phase of 'cleansing' from speculative capital. Ahead lies a week of struggle for key psychological levels.
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