Solana Slumps Below $200 as Bitcoin's Weakness Takes Toll on Altcoins

Solana's price has fallen below $200 due to broader market pressures following Bitcoin's drop beneath $100,000 on February 1.

In recent days, Solana has experienced significant outflows, with more than $365 million leaving its spot markets.

This trend highlights a diminishing demand for SOL and underscores the impact of Bitcoin's decline on the altcoin market.

Data from Coinglass reports $367 million in outflows over the past three days, indicating increased selling activity as traders respond to Bitcoin's weakness.