As purchasers remain on the sidelines, Bitcoin, the flagship cryptocurrency fell below $30K in the early hours of Saturday.
Despite failing to breach the falling channel barrier at $2,000 on May 31, the leading altcoin, Ether, remains negative.
With the exception of Axie Infinity, Chiliz, and Helium, all other major crypto tokens were trading at a discount.
As a result, during weak markets, bitcoin’s market value grows in comparison to the whole crypto market cap .