Bitcoin fell sharply on Tuesday, dropping to $62,950, a decline of 4.6%, as a broader sell-off gripped the cryptocurrency market. The downturn extended to Ethereum, Solana, XRP, Dogecoin, BNB, and Sui, all trading in negative territory, with Bitcoin Cash experiencing a particularly steep drop.
The market weakness coincides with growing anxieties surrounding artificial intelligence (AI) and its potential impact on risk assets, according to a report from CoinDesk. This “AI scare trade” appears to be unsettling investors, prompting a flight to safety and contributing to the downward pressure on cryptocurrencies.
Despite the overall negative trend, Solana (SOL) has seen some positive movement, attracting $8 million in inflows to spot ETFs, as reported by KuCoin. This stands in contrast to outflows observed in Bitcoin and Ethereum ETFs, suggesting a potential shift in investor sentiment towards alternative cryptocurrencies.
The broader cryptocurrency market decline follows predictions made on February 23rd, which analyzed the potential movements of various cryptocurrencies including Bitcoin, Ethereum, XRP, and others, according to MSN. The analysis, yet, did not foresee the extent of the current downturn.
CoinGape reported that the sharp declines across the crypto market – impacting Bitcoin, Ethereum, XRP, Solana, and Cardano – are attributed to a confluence of factors, though specific details remain limited. The report highlights a general market correction, but does not pinpoint a single catalyst.
Interest in cryptocurrency-based casinos remains steady, with several platforms being highlighted as leading safe and verified options for 2026, according to Eudaimonia and Co. This suggests continued demand for crypto-related services despite the current market volatility.
