The downtrend of cryptocurrency continues to ferment, altcoins and Ethereum keep falling.

After the largest hack attack in history last week, the cryptocurrency field is still struggling to recover, with altcoins such as Ethereum, Solana, Dogecoin, and many others continuing to be under pressure, and investors gradually shifting their focus to other areas. During Tuesday's Asian trading session, Bitcoin continued to decline, falling below $91,000 at one point, reaching a new low since mid-January. At the time of writing, the price of Bitcoin has fallen by 2.56% to around $91,883. Ethereum is the second largest cryptocurrency by market value after Bitcoin. At the beginning of this week, the price of Ethereum sharply decreased, and the downward trend continued on Tuesday morning, with a cumulative decrease of over 10% in the past two days. At the same time, Solana's price fell by about 15%, and Dogecoin by approximately 13%. At the time of writing, Ethereum, Solana, and Dogecoin have fallen by 6.30%, 8.02%, and 6.25% respectively. Jeff Dorman, Chief Investment Officer of Arca, said, "The cryptocurrency market is weak, and this situation has been going on for eight weeks. The stock market, fixed income market, and gold market are unaffected by the data used to explain the market weakness, but the cryptocurrency market is still declining. This is mainly due to the low market sentiment, the negative impact of various Meme coins' explosion, and the lack of funding to support the issuance of new tokens." According to data from digital asset management company Arca, since mid-December last year, except for a few exceptions, the value of most tokens has shrunk by 30%-80%. In the past month, Solana's market value has evaporated by approximately $50 billion, partly due to a recent scandal involving Argentine President Javier Milei's association with a Meme coin called Libra, which is now almost worthless. In addition, researcher Mesarie pointed out that around March 1st, Solana tokens worth about $1.72 billion will be "unlocked", meaning that trading restrictions will be lifted, putting Solana under downward pressure. Edward Qin, Co-Founder of Parataxis, said, "As tokens continue to unlock and flow into the market, people are selling off. Investors who usually participate in this market have long held altcoins, with any new funds flowing towards Bitcoin, which explains the relative strength of Bitcoin and its continued dominance in the market. The altcoin market lacks positive factors, so I expect funds to continue to flow out until the situation changes." On Monday Eastern Time, Strategy (MSTR.US) announced that they had spent nearly $2 billion in the past seven days buying Bitcoin, providing some support for Bitcoin. Although the cryptocurrency exchange Bybit has stated that it has replenished the approximately $1.4 billion stolen by hackers last week, Ethereum is still under pressure. CEO Ben Zhou reposted a message on the X platform showing that Bybit has borrowed some Ethereum and seems to have also bought some Ethereum. Stock prices of cryptocurrency-related companies have also fallen. Coinbase Global (COIN.US) has fallen for the sixth consecutive trading day. Strategy's stock price has fallen by about 5.7%, with cumulative stock price turning negative for the year. After a sharp drop of 13% last week, Bitcoin mining company MARA Holdings (MARA.US) saw its stock price fall by about 5.3% on Monday.