Analyst: 24% of the Top 200 cryptocurrencies hit a one-year low, the market may usher in a bottoming out

According to Cointelegraph, Real Vision analyst Jamie Coutts' data shows that the market shuffle on February 7 brought the share of the top 200 tokens that hit a new 365-day low to 24%, the highest level since August 5, 2024 (28%).
IntoTheBlock analyst Juan Pellicer said that the recent market correction has led to a lot of liquidation (especially Solana), and the total crypto market capitalization has fallen to $3.13 trillion, indicating that excessive leverage positions are being cleared and the market may capitulate. Considering the impact of tariffs and AI valuations (affected by DeepSeek), the bull market is likely to continue, and the current correction may be a correction for some tokens rather than a broader downtrend.
Brickken CEO Edwin Mata further pointed out that the meme boom is disrupting market liquidity allocation. The trend of meme coins promoted by high-profile individuals distorting the flow of funds and driving liquidity out of more mature projects has increased market volatility and made traditional market recovery models more difficult to predict.