Bitcoin continued trading within a narrow corridor around $66,000-$66,500 over the weekend, with several attempts to break above the latter mark failed.
NEAR, AVAX, and UNI altcoins are bearish on the daily chart and are leading the decline.
Bitcoin Pulls Back Below $66K
Bitcoin started the previous business week targeting $ 70,000 but saw a $ 4,000 dump as bears seized the market before economic data and a Federal Reserve meeting.
Bitcoin rose to $70,000 on high inflation rates but retreated to $65000 by the Fed’s failure to reduce the interest rate, unlike the ECB.
BTC was trading at around $66,100 on Monday after a consolidation over the weekend and a breakdown attempt at $67,000.
They have a market capitalization of $1. 3 trillion; thus, Bitcoin holds a dominance of 51 percent.
Market Volatility Turns Altcoins Red
Major altcoins have followed Bitcoin’s trend, with ETH, BNB, and TON losing under 1% of their value, while ADA, DOGE, and LINK have shed slightly over 1%.
DOT remains stable at $6 while AVAX, DOGE, NEAR, BCH, SHIB, UNI, and IMX suffer heavy losses, with IMX shedding up to 7% of its value; FET is the largest cap alt to lose 10% of its value falling to $1. 3.
XRP, KAS, TRX, and SOL are slightly up despite the total crypto market cap declining by over $30 billion in a single day.
