The crypto market experienced a sell-off at the start of the week, with Bitcoin and other cryptocurrencies in the red. XRP, Solana (SOL), and Cardano (ADA) also saw losses. This decline led to $249 million in liquidations across various crypto assets within the last 24 hours. Altcoins were hit harder than Bitcoin, with some experiencing losses of up to 12%. XRP dropped to fourth place in the market rankings, with Solana underperforming and Cardano also experiencing a decrease. The market was also affected by the $1.5 billion Bybit hack, which targeted an offline wallet and resulted in the theft of $1.4 billion in Ethereum. The hack involved manipulating the user interface and URL to change the smart contract logic and redirect funds. These events, along with a drop in the Michigan Consumer Sentiment Index and increased inflation forecasts, have contributed to bearish sentiment in the market.



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