The S&P 500 and Nasdaq have fallen for five consecutive weeks, indicating that traders continue to reduce their exposure to risky assets. bitcoins (BTC) the close correlation with US equity markets has ensured that its price remains under pressure.

Bitcoin extended its decline over the weekend and is now on track for its sixth straight weekly lossthe first such event since 2014. Bitcoin’s weakness sent all of the crypto markets down, including market capitalization fell below $1.6 trillion.

Daily view of crypto market data. Source: Coin360

When sentiment is bearish, traders sell on every negative news. the depeg of Terra’s US dollar stablecoin TerraUSD (UST) also appears to be increasing selling pressure in the crypto market.

After Bitcoin’s six consecutive weekly closes in the red, is it time to pick up again? Let’s study the charts of the top 5 cryptocurrencies that show signs of stabilization in the short term.