Bitcoin (BTC) today showed a sharp downtrend after strengthening a few days at the $ 19,000 level.
At the time of writing, Satoshi Nakamoto's assets traded at $ 18,2777, down 4.78% for the 24-hour period.
Ethereum (ETH) also saw a 7.06% decline to $ 547 and Ripple (XRP) a 9.37% decline to $ 0.5.
The sharp decline was driven by the surge in the US dollar (DXY) index since last week's record low. DXY saw a strong decline last week, causing Bitcoin to remain at a high price and also strengthen the stock market.
As the BTC declined, the S&P 500 showed improvement, indicating that both market sentiments were beginning to change.
Analysts assume there will be a more severe decline following the start of the correction.
There are also other analysts who signal caution after the latest technical and on-chain trends are starting to emerge.
Leading crypto analyst Willy Woo described the weakening movement of Bitcoin as not showing any support and the mystery of the direction of the asset is still a question mark.
