24% of top 200 cryptocurrencies hit yearly lows amid market correction

According to Real Vision analyst Jamie Coutts, 24% of the top 200 cryptocurrencies dropped to their lowest levels in over a year following the Feb. 7 market downturn, the highest rate since Aug. 5, 2024 (28%), Cointelegraph reported. IntoTheBlock analyst Juan Pellicer suggested that the decline, marked by large liquidations, particularly in Solana (SOL), could indicate investor capitulation, with the total crypto market cap falling to $3.13 trillion. However, he believes the bull market could continue, citing factors like U.S.-China trade tensions and AI-driven valuations. Meanwhile, Brickken CEO Edwin Mata warned that liquidity fragmentation from the memecoin frenzy could limit altcoin upside potential, introducing additional volatility and speculation into the market.