Ethereum is among the worst-hit altcoins, bearing a 9.52% decline to $2,112.61 in a single day. Solana and XRP have also witnessed steep corrections, dropping 8.52% and 8.47%, respectively..
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Despite the overall market slump, a few tokens managed to stay in the green.
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TAO, VIRTUAL, and STORY IP have been the biggest losers, with declines exceeding 15%.
The Fear & Greed Index is at 21, indicating strong investor fear amid the ongoing market downturn.
Yes, Bitcoin will recover, as the market sentiments settle from being fearful. And the current dip makes it a good investment both for short and long term.
