Crypto Market Plunges: Bitcoin Drops, Altcoins Face Uncertainty

The crypto market experienced a significant downturn in the first week of February 2025, with Bitcoin falling to $91,200 over the last 24 hours. Despite this, the upcoming week presented opportunities for investors due to external developments surrounding certain altcoins.

Portal (PORTAL) price witnessed a sharp 25% decline, reaching a new all-time low of $0.1064 during the intra-day crash. This significant drop raised concerns among traders about the token's immediate future. However, factors beyond the price action suggested potential for recovery. One key event to watch this week was Portal's upcoming launch on the Solana blockchain. Given Solana's strong position in the decentralized finance (DeFi) space, this integration could provide a significant boost to Portal's price, especially if Solana's user base becomes active with the new token.

Aptos (APT) saw a sharp 35% decline, dropping to the lows of $4.57 during an intra-day fall. This marked the loss of key support at $6.16, coinciding with the 23.6% Fibonacci retracement line, signaling the potential for further downside in the altcoin's price. Currently trading at $5.86, APT had a chance to reclaim the $6.16 support level. Doing so would help the altcoin recover recent losses and target $7.66. The upcoming token unlock, involving 11.31 million APT worth $66 million, added a layer of potential volatility to the price action.

BNB price dropped by 11% in the last 24 hours, falling below key support levels of $619 and the range between $587 and $619. This significant loss reflected a shift in the token's price action, raising concerns over its short-term performance. Despite this, BNB had the potential for a rebound. If the token recovered and managed to close above $587, it could regain bullish momentum and move back above the $619 level, providing a strong entry point for investors.