BTC fell over the weekend, could it be a slight glitch before takeoff?
âą Santiment reported that Bitcoin and several other altcoins saw slight declines over the weekend.
âą BTC is currently trading at $41,173.53 after declining 1.55% in one day.
âą As part of the price correction procedure, BTC returned to the 0.382 Fib level.
Following another non-holiday weekend, blockchain data analytics platform Santiment took to Twitter to report slight declines seen in Bitcoin and several other altcoins. Despite the market's red zone, the platform further highlighted that ICP, as well as INJ, STX and BONK, have experienced a surge.
The social volumes of crypto leader BTC and altcoin leader ETH also recorded a decline. Additionally, the Santiment chart shows that BNB, SOL, XRP, and USDC saw a decline in social volume.
At the time of writing, BTC is currently trading at $41,173.53 after declining 1.55% in one day. These changes have led to BTC being in the red zone on the weekly chart. It is unclear whether this decline could be an easy setback for the crypto leader. Despite the 24-hour drop, CoinMarketCap data also shows that the crypto leader's trading volume is growing by 34.08%.
A deeper dive into the BTC chart revealed that prices are declining while the total number of holders is also decreasing. At the same time, prices and the number of holders gradually increase, as can be seen in the graph. Development activity also continues to grow steadily despite lower prices. On the other hand, during the BTC fall, development activity also decreased.
It appears that the current decline could be part of a price correction as it has returned to the 0.382 Fib level. The 0.382 Fib level is often considered by most traders as a potential price correction level. Looking at historical prices, the price correction is likely a slight hiccup in BTC's trajectory and it could rise again.
