Odaily News Geoff Kendrick, head of digital asset research at Standard Chartered Bank, pointed out that part of the reason for the depreciation of Bitcoin is the enthusiasm of the meme coin market. Although Bitcoin is not directly related to this market, analysts said that a series of meme coin scandals are undermining investors' trust in the entire cryptocurrency ecosystem. This trend is particularly unfavorable for altcoins. Solana and Ethereum have fallen 41% and 28% respectively so far this month. (thecryptobasic)