The broader cryptocurrency market took a turn for the worse throughout the past seven days as the majority of coins are trading in the red. This comes after weeks’ worth of increases in what seems to be an expected correction.

Bitcoin’s price is trading at a 3% loss, tumbling toward $36K at the time of this writing. The leading cryptocurrency was unable to keep up the bullish momentum. It soared toward $38K on Thursday, but it retraced almost as quickly as it skyrocketed. All in all, it returned to $36K in what seems to be a healthy correction.

The rest of the market is having it worse, with slight exceptions in the face of Solana (SOL), which remains the best-performing altcoin from the top 10, up 8.5% on the week. Interestingly, the only other altcoin from the top 10 that’s also in the green is Dogecoin (DOGE).

Elsewhere, prices are tumbling. ETH is down 8%, BNB is down 4.3%, XRP lost 8.1%, and so forth.

Prices aside, the week saw positive developments in the face of the world’s largest asset manager. BlackRock furthered its involvement in the cryptocurrency industry and officially filed for a spot Ethereum (ETH) exchange-traded fund (ETF) with the United States Securities and Exchange Commission.

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Author: George Georgiev

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