Top 5 cryptocurrencies to watch this week: BTC, SHIB, MATIC, ATOM, APE

Traders are taking a hands-off approach to Bitcoin and altcoins until BTC succeeds in bringing the level of $20,000 to support.

The bears are trying to push Bitcoin (BTC) below $19,000 to further cement their edge in the crypto market. Analysts monitoring Bitcoin's MVRV-Z score, a metric that measures how high or low Bitcoin's price is relative to "fair value," expect an even deeper drop before the bottom hits. is finally reached.

However, economist, trader, and entrepreneur Alex Krueger pointed out that Bitcoin volume hit an all-time high in June. Usually the highest volume in a downtrend indicates a capitulation and this “creates major lows”. If Bitcoin follows the historical bear market pattern of 2018, Krueger expects the bottom to form in July.

Due to the close correlation between Bitcoin and the S&P 500, crypto traders will need to closely monitor the performance of US stock markets next week, which could be