Cryptocurrency markets have been in a downward correction since the beginning of the weekend, with Bitcoin hovering around $27,000 and Ethereum trending towards $1.8K. As of this writing, no major altcoins have seen a significant recovery. From the 24-hour period, Injective Protocol (INJ) has been the biggest loser, down 12%, while Kaspa (KAS) and Bitget Token (BGB) are the only winners with an upturn of 6% each.

Bitcoin opened the week around 10% lower than its level a week ago. Despite attempts to break through $28,000, the bears have taken full control and headed south. On the other end of the spectrum, Ethereum has dropped 2.1% while the majority of major alts have decreased in value. Injective Protocol (INJ) not only suffered a deep plunge in the past 24 hours, but is also down 30% in the last seven days.

Heatmap analysis shows an overall grim chromatic tint with only two projects gaining during this period. Kaspa (KAS) and Bitget Token (BGB) stand out, both ascending 6%. Predominant red and little green indicate that not many projects are in their perfect form a week into 2021, though the aforementioned two appear to be an exception.

What sorts of positional changes will the markets encounter this week? Will the broader correction redeem investors from losses or bring more? Time will be the ultimate answer to these questions.



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