Major cryptocurrencies are starting the new week in the red, with Bitcoin (BTC) tumbling below $58,000 and Ethereum (ETH) slipping below $2,500 once again. The overall crypto market cap also registered a drop of 1.91%, leaving it just above the $2 trillion mark.
Almost all cryptocurrencies have registered substantial weekly drops, with BTC down over 10%, ETH down almost 11%, and Solana (SOL) down a staggering 20%. Other altcoins that registered substantial losses include Dogecoin (DOGE), which is down 14%; Toncoin (TON), down 10.71%; Cardano (ADA), down almost 15%; and Polkadot (DOT), down nearly 15% as well. Analysts now worry BTC could be heading for a bear market, with price action indicating a further decline.
Crypto Markets Await US Job Data
The traditional and cryptocurrency markets are holding their breath with crucial events, including the US job data set that will be released this week. Employment figures will be closely watched as they indicate upcoming rat
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