The bearish signal grows as the Bitcoin price drops to $35K, and traders ignore the decline

With Bitcoin (BitcoinThe price fell to $35,100, and traders seem to be generally not interested in buying on dips before the weekend.

Although the market has seen a downward trend in the past two weeks, institutional investors have largely strong determination Maintaining the promise of cryptocurrency, but due to the lack of a “we bought flooding” announcement, retail traders want to know whether the price of Bitcoin will fall further.

BTC/USDT 4-hour chart. source: Transaction view

Although some analysts believe that Bitcoin may be as low as $20,000 in the worst-case scenario, the overall price trend of BTC Still biased upwards The weekly highs remain unchanged.

Altcoins fell with Bitcoin

On Friday, due to market uncertainty before the Memorial Day weekend, the trading volume decreased, and the safe-haven environment reduced the impact of major announcements such as Polygon (MATIC) integrating its data set into Google Cloud technology, and Altcoins also significantly Fall back.

Despite the correction in the entire market, there are still some tokens that have successfully rebounded. Helium (HNT) announced on Twitter that the project has more than 45,000 active hotspots worldwide. After providing wireless coverage for decentralized Internet of Things (IoT) devices, its stock price soared 28%, setting a record high to 23.01 US dollars.

MaidSafeCoin (MAID) also saw a 20% rebound, reaching an intraday high of $0.52. emission v2 testnet and Zcash (Zero carbon emissions) Shares have risen by 5% and are now trading at $159.

Daily cryptocurrency market performance. source: Coin 360

At present, the market value of the entire cryptocurrency reaches US$1.567 trillion, and the dominant rate of Bitcoin is 42.8%.

The views and opinions expressed here are only those of the author and do not necessarily reflect the views of Every investment and trading action involves risk, so you should conduct your own research when making a decision.