The cryptocurrency market has taken a beating in the past 24 hours, with Injective (INJ) plunging more than 12% and BTC falling to $27,000.

The weekend saw the wider correction in the cryptocurrency market continue, with most projects failing to stage any kind of recovery.

The price of Bitcoin is falling towards $27,000 and is trading just above that price at the time of writing. The past 24 hours have not brought relief to altcoins either, with most of them continuing to fall.

Bitcoin price struggles around $27,000

The start of a new week has done little to help Bitcoin’s attempt to recover. In fact, the price continues to fall and it looks like $27,000 is the next level the cryptocurrency will reach.

Note that BTC tried to reclaim $28,000 but suddenly stalled around $27.8K where bears were in full control. Since then, the hourly candles have been red.

Last week saw BTC lose the most value in five months. It is down about 10% compared to the price it was trading at seven days ago.

Altcoins continue to suffer

The altcoin market has also failed to generate any meaningful recovery over the past 24 hours. Ethereum’s price is trending towards $1,800, down 2.1% on the day, much like most major altcoins in terms of total market capitalization.

As you can see in the heatmap below, it doesn’t look very pretty.

Injective Protocol (INJ) has been the worst performer over the past 24 hours, falling more than 12% during that period. The cryptocurrency is now down more than 30% in the past seven days alone. Following closely behind is Arbitrum’s ARB, which is also down about 10% today.

On the other hand, there are Kaspa (KAS) and Bitget Token (BGB), both of which are up more than 6% in the past 24 hours. Other than that, though, it’s all in the red.