The leading cryptocurrency Bitcoin has been in a downward trend for the last week. As the decline deepened further, a new decline wave occurred in the morning hours and BTC fell to $ 58,000.
While BTC decreased by 13.4% in the last week, the largest altcoin Ethereum (ETH) decreased by 11.2%.
While the decline in BTC and ETH reached double digits, some altcoins stood strong against the decline in BTC and achieved significant increases in the last week.
According to CoinMarketCap data, the altcoins that rose in the last week were listed as follows: Helium (HNT), Tron (TRX), UNUS SED LEO (LEO) and Wormhole (W).
On the other hand, the 10 altcoins that fell the most along with BTC were listed as follows: Hedera (HBAR), Pendle (PENDLE), Stacks (STX), Dogwifhat (WIF), Core (CORE), Bittensor (TAO), Algorand (ALGO), Pyth Network (PYTH), Jupiter (JUP), Ronin (RON)
While these declines made investors nervous, successful analyst Michael van de Poppe said that these declines were historically pre-FOMC declines. According to Poppe, BTC generally falls before FOMC meetings and recovers afterwards.
*This is not investment advice.