General Overview Bitcoin and many major cryptocurrencies are experiencing a sharp decline in prices following a strong sell-off in recent days, putting the market in a general downturn and negative momentum. Recent data indicates that Bitcoin is sharply declining and has had one of the worst weeks of decline in recent years. Despite the drop, in the past few days, short-term rebounds in prices have appeared with some brief increases in Bitcoin, Ethereum, and some altcoins like XRP, but the movements are still part of market volatility and do not indicate a clear change in direction so far. Governing Fundamental Factors The market is significantly affected by macroeconomic factors and global liquidity. Technical patterns have less impact under broader sell pressure. There is a noticeable interest in high-liquidity coins and a decrease in demand for some smaller altcoins. Weekly Summary Outflow of liquidity from the crypto market. Widespread liquidations in the markets. Some technical support at critical price levels. The market condition tends to strong volatility and uncertainty. Current Market Condition The market is in a clear correction phase with no confirmed upward trend. There is obvious selling pressure in Bitcoin and altcoins, while short-term rebounds do not break the general downward trend. The current focus should be on capital protection and understanding the underlying global movements rather than entering strong trades.
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