Standard Chartered Analyst: The partial reason for Bitcoin's decline is the frenzy in the Meme coin market

Standard Chartered Bank's Digital Asset Research Director, Geoff Kendrick, pointed out that part of the reason for Bitcoin's depreciation is the frenzy in the meme coin market. Although Bitcoin is not directly related to this market, analysts say a series of meme coin scandals are damaging investor trust in the entire cryptocurrency ecosystem. This trend is particularly detrimental to altcoins, with Solana and Ethereum falling 41% and 28% respectively so far this month. (thecryptobasic)