As the crypto landscape continues to change, recent days have seen Bitcoin ($BTC), along with several other cryptos, experience a notable downturn.

This downturn has caused ripples of concern throughout the market, with many traders now pondering whether the bullish momentum is over for now.

However, despite the slump, several new tokens are emerging, offering a silver lining.

Red Week for Crypto As Bitcoin Price Stumbles

It’s been a difficult week for crypto traders thus far, with most major coins and tokens experiencing a significant selloff.

Bitcoin, the world’s largest cryptocurrency, has seen its price drop 4% in the past day – and has now closed in the red for three days in a row.

This surprise turnaround in fortunes comes after a period of sustained momentum for $BTC, which saw the coin’s price soar by 27% over the past month.

However, this bullish momentum appears to have been halted, with $BTC struggling to surpass the crucial $31,000 level.

At the time of writing, $BTC is retesting $30,000 – a vital psychological level that has often served as support and resistance in previous market cycles.

If it fails to hold, further downward momentum could be on the cards.

Market Uncertainty Dampens Crypto Enthusiasm

It’s not just Bitcoin experiencing a price dip – major altcoins like Ethereum ($ETH) are also seeing the bears take control.

The $ETH price has dipped over 5% from Monday’s high, with the token now trading around the $1,860 level.

A quick glance at the Coin360 heatmap shows a sea of red, with big hitters like Ripple ($XRP) and Binance Coin ($BNB) also experiencing a sharp price drop.

It appears that uncertainty is rippling throughout the crypto market following the release of the Federal Reserve’s FOMC meeting minutes, which indicate that another rate hike could be in the works for July.

This is bearish news for the crypto market since higher interest rates can make riskier assets, like cryptocurrencies, less attractive to investors.

As a result, investor funds may be redirected towards “safer” financ