Crypto Market Slumps: Bitcoin Drops Below $110K, MAGAX Presale Soars

The cryptocurrency market experienced a significant downturn this week, with the total market capitalization falling to $3.8 trillion. This drop was primarily driven by Bitcoin’s decline below $110,000, its lowest point since early July. Analysts attribute this slide to profit-taking from institutional investors and a broader pullback in risk assets. Ethereum (ETH) also experienced losses, along with other altcoins such as Cardano (ADA) and XRP. This correction indicates a growing sense of caution among traders, prompting them to shift away from established cryptocurrencies and towards the potential of presale opportunities.