The recent selloff in the general crypto market is attributed to the bursting of a speculative bubble in memecoins in January. The decline has been intensified this week due to the risk-off sentiment in the stock market, with the Nasdaq down more than 2% and lower by about 7% over the past few sessions. This selloff in stocks was fueled by high valuations and President Trump's tariff threats against Mexico, Canada, and China. Quinn Thompson, founder of hedge fund Lekker Capital, warns of the need for caution in risk assets and predicts a bear market for cryptocurrencies, with Bitcoin potentially reaching the $70,000s by the end of March.



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