Altcoins Fall Amid US Credit Downgrade, Analyst Reports

After the US credit rating was downgraded by Moody’s, altcoins faced a decline. Ether dropped to $2,380, showing an 8% decrease, while other cryptocurrencies like Solana, XRP, and ADA also suffered losses. Bitcoin fluctuated but showed resilience despite economic concerns. According to QCP Capital, institutional interest drove BTC's brief rally. Liquidations on leveraged positions revealed significant losses in both long and short trades. Analyst Valentin Fournier anticipates a stable trading phase with little risk of drastic price drops unless new macroeconomic catalysts emerge.