The crypto market is experiencing a significant downturn, with $325 billion in market cap lost since Friday. The drop, including a $100 billion disappearance within one hour, has impacted even meme coins and raised concerns about further downside. The sell-off was triggered by the Bybit hack, where $1.5 billion was stolen, causing fear and uncertainty among traders. Ethereum and Bitcoin both suffered losses, with Bitcoin breaking its $98,000 support level. Citadel Securities entering the crypto space as a liquidity provider also led to a selling frenzy. Solana and meme coins have been severely affected, with Solana's reputation tarnished and $1.72 billion in SOL tokens set to be unlocked on March 1. Altcoins have experienced significant losses since mid-December, and even Dogecoin is down nearly 7%. Crypto-related stocks, such as Coinbase and MARA Holdings, have also taken a hit. However, Strategy has made one of its biggest Bitcoin acquisitions, now holding $47.7 billion worth.



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