Over the weekend, the cryptocurrency market continued its decline as most projects failed to stage any form of recovery. Bitcoin saw its price slide down towards $27k and at the time of this writing, is trading slightly above it.
The altcoins were not left out as well, with most of them continuing their downfall in the past 24 hours. It is important to note that BTC attempted to reclaim $28k but was stopped in its tracks at $27.8k as the bears took control.
The past week saw Bitcoin lose the most value in the past 5 months. Compared to where it was trading seven days ago, it is down by roughly 10%.
Image Source: Trading View
Also, in the past 24 hours, the altcoin market has failed to produce any meaningful recovery. Ethereum is tanking down towards $1.8K, dropping by 2.1% on the day, as well as the majority of the major alts by means of total market capitalization.
As seen in the heatmap below, it’s not looking very good.
Injective Protocol (INJ) is the worst performer in the past 24 hours, it lost over 12% within that time. And in the past seven days, is now down over 30%. Right behind it is Arbitrum’s ARB, which lost around 10%.
On the other end of the spectrum, there’s Bitget Token (BGB) and Kaspa (KAS), both of which rallied by over 6% in the past 24 hours.
Featured Image Source: Marca
