Analyst: 24% of the top 200 cryptocurrencies have reached a one-year low, and the market may be entering a bottom-testing phase
ChainCatcher news, according to Cointelegraph, Real Vision analyst Jamie Coutts' data shows that the market reshuffle on February 7 resulted in 24% of the top 200 tokens hitting a new 365-day low, the highest level since August 5, 2024 (28%).IntoTheBlock analyst Juan Pellicer stated that the recent market adjustment has led to a significant amount of liquidations (especially in Solana), with the total market capitalization of the crypto market dropping to $3.13 trillion. This indicates that excessive leveraged positions are being cleared, and the market may be experiencing a capitulation. Considering the impact of tariffs and AI valuations (influenced by DeepSeek), the bull market may still continue, and the current adjustment could be a correction for certain tokens rather than a broader downtrend.Brickken CEO Edwin Mata further pointed out that the meme coin craze is disrupting the allocation of market liquidity. Meme coins promoted by celebrities are causing a distortion in the flow of funds, pulling liquidity away from more mature projects. This trend increases market volatility, making traditional market recovery patterns harder to predict.