Dogecoin, Shiba Inu, and Pepe Coin prices dropped sharply as Bitcoin plunged beneath the $70,000 threshold. The meme coin market cap dropped to $33.5 billion, with a 10.7% decline within the 24 hours....

<div><div>
<p><span>Dogecoin, Shiba Inu, and Pepe Coin prices dropped sharply as Bitcoin plunged beneath the $70,000 threshold. The meme coin market cap dropped to $33.5 billion, with a 10.7% decline within the 24 hours. The Dogecoin fell below $0.10 as it continued to face bearish price action. Shiba Inu price fell by 8%, and Pepe Coin fell by 17% over the past week.</span></p></div></div>

Dogecoin, Shiba Inu, and Pepe Coin Price Prediction as Bitcoin Crashes Below $70K.

Bitcoin's fundamentals have never changed; what has changed is its price in a continuously depreciating fiat currency system.

The real risk of Bitcoin is never price pullbacks.

Author: Nancy, PANews
Original title: No Black Swan Events, Four Atypical Guesses About the Culprit Behind Bitcoin Overselling
---------------------------------------------------------------
A black swan-style crash has arrived, but we haven't seen where the black swan is, which is even more unsettling.
Almost without warning, Bitcoin suddenly plummeted, entering its third-largest oversold zone in history, causing both long positions to collapse and psychological barriers to fall. This has left the market perplexed...

The absence of black swan events suggests there may be other reasons for Bitcoin's current oversold condition.

Daily market data review and trend analysis, produced by PANews.
1. Market Observation
On February 6th, global financial markets experienced a "Black Friday," with mainstream assets initially showing gains across the board. However, a sell-off on Wall Street intensified, affecting almost all sectors, with only 200 stocks rising in the S&P 500. Weak employment data fueled investor concerns about economic resilience. US job openings in December fell to their lowest level since 2020, while January layoffs hit a record high since 2009. All three major stock indexes fell by more than 1%. Technology stocks were hit hardest, with the software sector declining for the eighth consecutive day...