Altcoins plummet 20% with extreme spikes, mainstream CEX contract funding rates all "cooling down."

ChainCatcher news, according to market data, as Bitcoin fell to $94,000, altcoins experienced a widespread "spike" in extreme market conditions, including:

• Ethereum hit a low of $3,509, currently priced at $3,706, with a 24-hour decline of 7.15%
• SOL hit a low of $203, currently priced at $218, with a 24-hour decline of 7.35%
• SAGA hit a low of $1.8 before spiking up to $2.67, currently priced at $2.09, with a 24-hour decline of 24%
• 1INCH hit a low of $0.4, currently priced at $0.477, with a 24-hour decline of 23.6%
• ORCA hit a low of $4.03, currently priced at $4.72, with a 24-hour decline of 23.5%
• CATI hit a low of $0.4, currently priced at $0.46, with a 24-hour decline of 23.3%
• HMSTR hit a low of $0.0028, currently priced at $0.00349, with a 24-hour decline of 23%
• NOT hit a low of $0.00615, currently priced at $0.0076, with a 24-hour decline of 22.48%

Additionally, according to Coinglass data, after this extreme spike in the market, the funding rates for mainstream CEX contracts have all "cooled down," currently returning to normal levels, with the majority of altcoin contract funding rates dropping below 0.005%, entering a "generally bearish" level. Some altcoin contract rates on certain CEXs have even shown negative rates.