SOL Loses ADA Leads as Markets Start the Week in the Red

cryptocurrency market The week started in redSolana’s SOL and Cardano’s ADA led the losses, down 5% in the last 24 hours. Bitcoin, the world’s largest cryptocurrency by market value, lost the $41,000 support level on Monday morning as the CoinDesk 20, a liquidity index of the most traded tokens, fell 2.86% over the past 24 hours. Traders expect the price to fall to $38,000 in the coming weeks, which could lead to more losses in other cryptocurrencies. According to some analysts, including Bloomberg’s Eric Balchunas, the recent downward pressure on Bitcoin is due to selling in Grayscale’s GBTC Bitcoin exchange-traded fund (ETF). However, other newly approved Bitcoin ETFs are seeing net inflows. BlackRock’s IBIT and Fidelity’s FBTC ETFs topped $1 billion last week, data tracked by CoinGlass indicates buying pressure.