The crypto markets have been mostly on the rise since the beginning of this week, with Bitcoin leading the charge. The highflying asset was rejected when it attempted to reach the $29,000 mark, dropping back down to almost a grand lower. Most altcoins followed, having seen losses of their own, with Dogecoin, LDO and ARB suffering a particularly hard hit of 6%, 5% and 5% respectively.

The drop in value was initiated when false news appeared that Binance's CEO had been issued a Red Notice by Interpol—before being refuted and revealed to be fake. Despite the losses, Dogecoin still remains up 20% on a weekly scale due to Elon Musk's ongoing promotion of the memecoin.

Ethereum saw one of the more notable drops, dipping below the eight-month high of $1,900 it experienced just the day before. Ripple, Binance Coin, Cardano, MATIC, and more have also seen more daily price declines, while the cumulative market cap of all the crypto assets has gone to below $1.2 trillion, decreasing by approximately $30 billion in a day's time.

While these serious drops may be cause for alarm at the surface, analysts are in agreement that the overall trend is still positive in the long run.



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