Over the past seven days, the price of BTC plunged from $9k to $8,450, across major trading platforms. This is a decrease of about 6 percent over the past seven days. In that same timeframe, the price of XRP plunged by five percent while that of Ethereum plunged by about three percent. Recently, altcoins have put up a better performance than Bitcoin (BTC) because major altcoins have lost about 90 percent of their value from their all-time highs.

The next couple of weeks are believed to be a critical period for altcoins. The coming weeks would decide if altcoins would test a larger pullback to lower support levels or the present levels will act as support for the medium to long-term bottom for an extended rally.

There are mixed sentiments for BTC among traders, and Bitcoin is also expected to see a decisive moment, according to the Glassnode research team.