Market update: Bitcoin remains stable, altcoins correct further

Altcoins continue to correct further. Most altcoins lose between 5 and 10 percent on Monday, Feb. 24, 2025. Bitcoin, on the other hand, remains stable at US$95,000.

Overall, the market is losing nearly two percent of its value. Bitcoin's dominance remains at 60 percent. The Fear & Greed index stands at 40 points, which is considered neutral.

Raydium, the token of the leading decentralized exchange on Solana, is correcting particularly sharply, losing nearly 30 percent of its value. One reason for this is that memecoins are coming under increasing criticism. But according to rumors, Pump.fun is planning to launch some kind of decentralized exchange as well. It is the largest launch platform for these tokens. This would eliminate their dependence on Raydium.

Last week, Bitcoin spot ETFs also suffered setbacks, with money flowing out of these financial products daily, totaling more than half a billion US dollars.

Last Friday, Feb. 21, 2025, the world's second-largest crypto exchange, Bybit, was hacked by North Korean hackers. They stole about US$1.4 billion worth of cryptocurrencies, which was the largest heist in the industry's history.

This week, estimates of U.S. gross domestic product are released and inflation figures are published. Both events could affect the crypto market. Everything important for Bitcoin and crypto this week, find here.