Crypto Price Analysis 1-29: BITCOIN: BTC, ETHEREUM: ETH, SOLANA: SOL, DOGWIFHAT: WIF, INTERNET COMPUTER: ICP

Hold onto your digital wallets, crypto enthusiasts! It seems the rollercoaster ride in the crypto market is far from over. After a brief glimmer of hope, the market has taken a dip back into the red, leaving investors wondering what’s next. Let’s dive into what’s causing the jitters and what it means for your favorite digital coins.

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Crypto market feels the chill as Bitcoin stumbles below $102k.
Binance faces fresh scrutiny with a new investigation in France.

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Crypto Market Braces for Another Downturn

The source BitcoinEthereumNews.com reported that the crypto market is experiencing another downturn, largely influenced by the lingering effects of Monday’s market turbulence. Bitcoin, the king of crypto, is feeling the pressure. The source indicated that Bitcoin briefly dipped below the $100,000 mark, hitting a low of $100,265 before slightly recovering to around $101,600. While that might sound like a hefty price tag to some, it represents a nearly 1% drop in the last 24 hours and a concerning 4% decrease over the past week, according to the source.

It’s not just Bitcoin feeling the chill. Ethereum, another major player, has also slipped, falling below the $3,200 threshold and currently hovering around $3,110. The source explained that Ethereum is down about 2.5%. Solana, often touted as an “Ethereum killer,” is facing even steeper declines, down nearly 3% in the last day and a significant 9% over the week, struggling to stay above $230, as per BitcoinEthereumNews.com. Most other cryptocurrencies are following suit, with notable drops across the board, although Ripple (XRP) is bucking the trend with a slight increase.

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Binance Under the Microscope in France

Adding to the market uncertainty, BitcoinEthereumNews.com also highlighted significant news regarding Binance, the world’s largest cryptocurrency exchange. French investigators have reportedly launched a probe into Binance, focusing on allegations of money laundering, tax fraud, and related financial crimes. The source revealed that the Paris Prosecutor’s Office is spearheading this investigation, looking into activities from 2019 to 2024, potentially involving offenses within France and the wider European Union.

A spokesperson for Binance, according to the source, has denied all allegations and stated they will vigorously defend against any charges. This new investigation comes on the heels of Binance’s former CEO, Changpeng Zhao, recently serving time for violating US money laundering laws. This latest legal challenge in France is sure to keep a watchful eye on the crypto giant and could further contribute to the current market unease.

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Source: Bitcoin | Bitcoinethereumnews.com

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