Crypto Market Enters Phase of Weakness and Indecision

The cryptocurrency market has been characterized by a new phase of weakness and indecision, leading to notable bearish corrections across most major cryptocurrencies. Despite Bitcoin's relative stability, the asset still faces challenges in breaking above key resistance levels.

Looking at recent performance, Ethereum has been one of the most affected assets, with a decline of -4.72% over the week. In contrast, Cardano shows a -7.94% decline compared to its levels ten weeks ago. The market's overall trend remains bearish in the long term, with Solana down around -30.66% and Bitcoin showing a -11.35% variation compared to its yearly open.

From a correlation standpoint, most major cryptocurrencies continue to show a positive relationship with Bitcoin. However, there are emerging signs of weakening correlation, such as Dogecoin and Cardano. This highlights a growing disconnection from Bitcoin's price behavior in the short term.