The situation does not look any better for altcoins, which saw a decline of between 3% and 4% throughout the day.
Bitcoin price fluctuates amid market pressure
The cryptocurrency market has seen major shifts over the past week, with Bitcoin recording fresh gains at the start of the week, surpassing the $108,000 mark, hitting an all-time high.
However, things turned around on Wednesday evening following the FOMC meeting, leading to a rapid decline in the price of the currency to below $100,000.
This decline continued throughout the week, culminating on Friday when Bitcoin fell to $92,000.
Despite some recovery on Saturday morning with Bitcoin rising to $99,000, Bitcoin fell back again to settle above $95,000 by the end of the week.
The crypto market is now facing questions about whether the new week will bring positive changes or further correction, as pressure from global economic factors continues to affect Bitcoin price movement.
Altcoins: The decline continues
Altcoins have not been immune to these pressures, with most of them recording significant declines over the past few days.
Among these cryptocurrencies are XRP, AVAX, ADA, and SHIB, which continued to record losses.
Coins like DOT, XLM, SUI, and APT also saw additional declines over the last 24 hours.
Amidst this gloomy atmosphere, one coin stands out as an exception, AAVE, which has gained 10% to $340, despite the overall downtrend.
The decline has affected the total market cap of the cryptocurrency market with the recent decline, as the value fell to $3.46 trillion, according to CoinGecko data.