The weekend passed quietly and ended with BTC struggling to stay above $64,000. However, Monday started with a massive decline where the price dropped to a 6-week low of $62,000. 📉

Altcoins also turned red, with SOL, SHIB, UNI, BCH and many others dropping more than 5% on a daily basis. 😱

Last week was not a good one for the major cryptocurrency as ETF outflows skyrocketed. The altcoin fell from a weekly high of $67,000 to a multi-week low of $63,500 on Friday. But Monday started off with the bears taking control.

Within hours, the largest digital asset fell nearly $3,000, falling to $62,100 for the first time since May 15. Although Bitcoin is still down 2.3% on a daily basis, it has since recovered around $700. 📊

Market capitalization has fallen by $1.240 trillion, but the silver lining comes from increased dominance, which has risen to 51.6%.

When red dominates altcoins, it usually happens when BTC drops drastically to the south. Ethereum fell below $3,340, marking a 3% daily decline. BNB also fell 3% to $575.

So what do you think? Can cryptocurrencies recover after this decline? We are waiting your comments! 💬👇