Yaz Sheikh, Publisher at CoinCodex

Bitcoin is undergoing an extremely rough month of trading in which prices have dropped by a total of 31.5%. Today, BTC is attempting to bounce higher as it bounces back above $36,000 to reach $36,400.

The month of May has been pretty disastrous for Bitcoin. The cryptocurrency had dropped by a steep 38% from the ATH price seen in April to the current $39,900 level. It had corrected by a further 52% from the ATH to the May low near $30,000.

Yesterday, Bitcoin suffered one of the worst drop-offs in recent memory as it fell from a high of around $43,600 to tank by a total of around 30% to spike as low as $30,000 - a level not seen since January 2021.

Aave is gearing up to start a fresh new bullish run upward as the bulls set new ATH prices again today at $670. The cryptocurrency had surged higher in February to spike above $600 but, since then, the market has been pretty lackluster.

Ethereum saw a sharp 11% fall over the past week but managed to find strong support at $3,270 (.5 Fib Retracement) during the Bitcoin price drops yesterday. The cryptocurrency had set a new ATH price around $4,373 last week and started to roll over from there and head lower.

Bitcoin is down by a total of around 23% over the past week of trading as it creates a fresh low beneath the April lows - putting the market in a short-term bearish trend. The price drop has put pressure on the entire market as each coin starts to fall by varying degrees. Nevertheless, the bull run is still at the front of everybody’s mind, and this severe price drop might still provide valuable entry positions for those willing to load up.

Cardano is up by a strong 36% over the past month of trading as the cryptocurrency set a new ATH at $2.05 yesterday. The cryptocurrency had bounced from support at around $1.00 toward the end of April and has since been in an extended uptrend. It found resistance at $1.80 last week, but today’s 12.6% price surge helped it break above there and spike above $2.00.

Dogecoin saw a strong 28% price hike today as the coin attempts to rebound from the lackluster week of trading. The cryptocurrency had reached an ATH price of around $0.74 last week but started to head lower from there.

Bitcoin slipped by a total of 11% today after Tesla announced they would stop accepting BTC as a payment for their electric vehicles - citing high energy usage causing environmental damage. As a result, the entire cryptocurrency market lost a total of 12.7% on its market cap, dropping it to around $2.23 trillion in total.

Bitcoin saw a disastrous 11% price drop today as it slips from yesterday’s $58,000 high to reach as low as $46,000 today. It has since rebounded slightly back above $50,000 to trade around $51,000 but is facing resistance at the 100-days EMA level.