Top 5 cryptocurrencies to watch this week: BTC, MATIC, THETA, CRO, LEO

Top 5 cryptocurrencies to watch this week: BTC, MATIC, THETA, CRO, LEO


Bitcoin (BTC) bulls have successfully defended the $30,000 level in the past few days but the failure to achieve a strong rebound has some traders worried that the price will eventually dip to new lows. 

In a series of tweets, Ecoinometrics said that the current correction “looks very similar to 2013” when Bitcoin took 197 days to rise to a new all-time high and a bottom formed after a 69% correction from the all-time high.

If history repeats itself, then traders may need to be patient because the current correction has only been in play for 95 days. At $30,000, Bitcoin has just dropped 54% from its all-time high, and a 69% correction could sink it down to $20,000.

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Crypto market data daily view. Source: Coin360

In a new report, Delphi Digital highlighted that trading activity had collapsed with spot exchange volumes having fallen more than 60% from the highs in May. The derivatives market has also seen an exodus of leverage

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