Bitcoin (BTC) hovers around $82,000 on Monday after falling nearly 15% last week. Ethereum (ETH) and Ripple (XRP) followed BTC’s footsteps and crashed by nearly 20% and 28%, respectively, while their momentum indicators continue to show weakness, hinting at further correction.
Ethereum (ETH) is down 3% on Friday following its decline into the undervalued region and failure to finalize Holesky since running into issues during the testnet’s Pectra upgrade.
Bitcoin (BTC) struggled to gain momentum on Friday despite optimistic speculation surrounding the White House Crypto Summit and the establishment of a Strategic Bitcoin Reserve. Several experts pointed out that the increasing ties between cryptocurrency, macroeconomics and stock markets could significantly impede any upward trend in the market.