Crypto Market Loses Momentum as Most Assets Decline

The cryptocurrency market has lost momentum once again, with most assets failing to close the week in positive territory. Ethereum (ETH) is the only exception, managing to remain relatively stable with a weekly gain of 1.7%. The rest of the market shows signs of weakness, with Solana's short-term decline reaching -4.44%.

Over the last 10 weeks, the average decline for main cryptocurrencies remains significant, suggesting medium-term selling pressure has not fully dissipated. Bitcoin (BTC), which had attempted to maintain strength in previous weeks, is now showing signs of weakness again. The benchmark asset lost over $650 and failed to consistently move above $65,000.

From a correlation standpoint, the coefficient between some cryptocurrencies and BTC continues to decline, indicating that the market has started to detach from Bitcoin's dynamic. This could reduce appetite for less relevant assets.