Business

BTC, ALGO, XMR, XTZ, THETA

The S&P 500 and Nasdaq have fallen for five straight weeks, suggesting traders are continuing to reduce their exposure to risky assets. Bitcoin (BTC)’s close correlation with the United States stock markets has kept its price under pressure.

Bitcoin extended its decline over the weekend and is now on course for its sixth consecutive weekly loss, the first such event since 2014. Bitcoin’s weakness has impacted the entire crypto markets, whose market cap has fallen below $1.6 trillion. pulled down.

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Daily crypto market data view. Source: Coin360

When sentiment is bearish, traders sell on any negative news. Also, the unpegging of Terra’s US dollar stablecoin TerraUSD (UST) appears to be increasing selling pressure across the crypto market.

Is It Time For A Rebound After Bitcoin’s Six Consecutive Weekly Closes In The Red? Let’s examine the charts of the top 5 cryptocurrencies that are showing signs of near-term stabilization.