Crypto Market Turmoil Continues as Bitcoin Falls Below $64K

The cryptocurrency market has been under pressure in recent days, with the total market capitalization slipping 2.5% to around $2.27 trillion. Bitcoin (BTC) has fallen from approximately $66,000 on Monday morning to near $63,700 at press time, marking a 3% daily decline and a 6% weekly loss.

Ethereum (ETH) has tracked BTC's move, falling 3% to $1,840, and down 5.4% on the week. The rest of the top-10 assets have seen mild to moderate losses, with XRP down 1.7%, BNB losing 3.6%, and Solana (SOL) declining 3%.

Analysts at Galaxy Digital noted that BTC is approaching all-time oversold territory, with weekly RSI readings lower than any moment outside the deepest bear markets in November-December 2018 and mid-2022. Thin liquidity and derivatives signals a lack of directional conviction in the market.