Crypto prices slid alongside the S&P 500 and the Nasdaq, while the Dow traded in the green.
Bitcoin fell 2.1% to $23,220 around 10:15 a.m. EST after reaching its highest level since August, according to TradingView data.
Ether declined 1.4% to around $1,592. BNB fell 2.8%, while Cardano's ADA was also down 1.2%. Polygon's MATIC declined by over 6% in the past 24 hours after rising last week.
Dog-themed memecoins also declined, with dogecoin and shiba inu down 3.2% and 2.5%, respectively.
Bitcoin is "on track for its best January performance in a decade, indicative of a sharp reversal in bearish sentiment that negatively impacted prices for much of 2022," according to crypto economist Ryan Shea of Trakx.
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