Bitcoin faces resistance as it flips an old support level, indicating a prolonged correction.
BTC price declined by 2.8% in the last 30 days, while Ethereum, Solana, Dogecoin, and Cardano also saw declines.
Crypto-related stocks, including MicroStrategy, Coinbase, MARA Holdings, and Riot Platforms, also experienced declines.
Bearish factors include profit-taking after reaching an all-time high, low U.S. Chicago PMI reading, and uncertainty around Federal Reserve interest rates policy.