Following the crypto market crash on October 10, a bearish sentiment has dominated, with on-chain data indicating a continued decline in digital asset prices. Bitcoin (BTC), for instance, is nearing one of its worst weekly performances of the year, having recorded a 6% drop over the past seven days.
The leading cryptocurrency has fallen below the critical $100,000 mark for four consecutive days. If this downward trend persists and is confirmed in the coming days, it could exacerbate selling pressure and further instill fear in the market, potentially leading to broader price declines.
Short-Term Weakness Likely To Persist
Taking a broader view, the market presents a mixed picture. Solana (SOL) has decreased by 20% year-to-date, while Chainlink (LINK) has suffered a 33% drop.
Although Bitcoin, XRP, and Ethereum (ETH) have seen some gains this year, they have not outperformed the stock market, which has risen by 14% during the same period.
Interestingly, October also rec
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