Bitcoin Struggles at $63K, Altcoin Market Sees Short-Term Pullback

Bitcoin struggled to hold above $65,000 this week, correcting to a 17-day low of $62,400 before recovering to around $63,000.

Much larger-cap altcoins are also in the red over the past 24 hours, led by HYPE, UNI and DeFi token AAVE, indicating a short-term market pullback and increased downside risk for crypto traders.

The decline of these popular altcoins may be attributed to Bitcoin's inability to surpass $65,000 earlier this week, causing a ripple effect throughout the larger-cap cryptocurrency space.