On Saturday, the cryptocurrency market showed a decline from its previous level of volatility, with Bitcoin and Ethereum prices falling 1.5%. Despite this, profit-taking in the crypto market remains high, with over $98 million liquidated in the last 24 hours. Analysts believe that the crypto market is currently in a lull ahead of the next bout of volatility.
Analyst Rekt Capital predicts that the next few weeks will be a pivotal time for the entire cryptocurrency market. If he continues the previous rally, he would signal the end of the bear market and the beginning of a multi-week consolidation phase.
However, if there is a significant drop below $18k, a downtrend could be indicated by a death cross between the 50 and 200 WMA.