The overall decline in the cryptocurrency market continued throughout the weekend, as the majority of projects failed to stage any sort of recovery.
At the time of writing, the price of bitcoin is trading just above $27K but is now heading in that direction. Altcoins experienced no relief over the past 24 hours, with the majority of them continuing to lose value. Let’s start now.
Around $27K, Bitcoin Price Is Struggling
The start of a new week hasn’t done anything to aid Bitcoin in its comeback efforts. In actuality, the price is still falling, and it appears that the next level the cryptocurrency will reach is $27K.
Notably, BTC tried to recover $28,000 but was halted quickly at roughly $27.8K, where the bears grabbed full control. Since then, every hourly candle has been red.
BTC experienced its biggest value decline in five months last week. In comparison to where it was trading seven days ago, it has decreased by about 10%.
Altcoins are still struggling
Additionally, there has been no discernible improvement in the altcoin market during the past 24 hours. According to total market capitalization, Ethereum is moving toward $1.8K, down 2.1% on the day. This is similar to the rest of the major alts.
With a loss of more than 12% over the past 24 hours, Injective Protocol (INJ) had the worst performance. The cryptocurrency has now decreased by more than 30% just during the last week. Following closely behind is Arbitrum‘s ARB, which also had a 10% loss today.
Kaspa (KAS) and Bitget Token (BGB), which are both up more than 6% in the last day, are at the other end of the spectrum. But aside from them, everything is colored crimson.
Injective (INJ) Nosedives 12% Daily, as Bitcoin Struggles Above $27K: Market Watch first appeared on CryptoPotato.
