The S&P 500 and the Nasdaq have declined for 5 consecutive weeks, indicating that merchants proceed to cut back publicity to dangerous belongings. Bitcoin’s (BTC) shut correlation with United States fairness markets has resulted in its worth remaining underneath strain.

Bitcoin has prolonged its decline throughout the weekend and is now on observe for its sixth successive weekly loss, the primary such incidence since 2014. The weak point in Bitcoin has pulled down all the crypto markets, whose market capitalization has dipped beneath $1.6 trillion.

Crypto market knowledge day by day view. Supply: Coin360

When the sentiment is bearish, merchants promote on each damaging information. The de-peg of Terra’s U. S. greenback stablecoin TerraUSD (UST) additionally seems to be growing promote strain throughout the crypto market.

After Bitcoin’s six consecutive weekly closes within the crimson, is it time for a restoration? Let’s research the charts of the top-5 cryptocurrencies which are exhibiting indicators of stabilizing within the close to time period.