Bitcoin experienced another dip yesterday, reaching a new monthly low of under $40,500, before recovering and rising above $42,000 hours later. The overall market sentiment remains negative, with altcoins showing sluggish performance, except for Chainlink (LINK), which has jumped by around 5%.

BTC's decline began last week after it soared past $49,000 when 11 spot BTC ETFs reached the US markets, only to drop by more than $3,000 later. The cryptocurrency lost over $7,000 in about 36 hours in a sell-the-news event. Despite recovering to $43,000 during the weekend, Bitcoin's price declined again yesterday, dropping below $41,000 and then to $40,400 for the first time in over a month. Its market capitalization now stands just above $810 billion, with dominance over altcoins still below 50%.

Among the larger-cap altcoins, Chainlink is one of the few notable gainers, with a 5% increase, trading above $16. Cardano, Uniswap, and Litecoin are also in the green, while Avalanche, Solana, and MATIC have experienced losses. The total crypto market cap has declined by about $10 billion overnight but still stands just above $1.6 trillion.