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Filecoin drops 2% as crypto markets weaken
Source: CryptoNewsNet Original Title: Filecoin drops 2% as crypto markets weaken Original Link: Filecoin (FIL) slipped 2% to $1.28 during Tuesday’s session, tracking broader crypto market flows rather than responding to token-specific catalysts.
The token’s price action remains closely tied to crypto market sentiment. This tight correlation indicates large order flows are driving the price moves rather than fundamentals for Filecoin.
The broader crypto market was 0.6% lower at the time of publication.
Trading volumes for Filecoin reinforce the consolidation theme, with 24-hour activity 7.3% above weekly averages signaling measured participation. Volume patterns support range-bound trading as participation falls short of breakout thresholds. The measured uptick suggests accumulation rather than aggressive positioning that typically precedes major directional moves.