Top 5 cryptocurrencies to watch this week: BTC, ETH, MATIC, ALGO, EGLD

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Bitcoin (BTC) and most altcoins sold off on Dec. 4 with massive deleveraging seen in the crypto derivatives markets. Data suggests more than $2.5 billion of crypto liquidations over a 24-hour period.

During the recent fall, Ether (ETH) has continued to outperform Bitcoin. While Bitcoin’s market dominance has dropped below 41%, Ether has continued to gain ground and its market dominance has risen above 21%.

Crypto market data daily view. Source: Coin360

Some analysts believe that Bitcoin’s recent decline could result in a lengthy phase of consolidation. Decentrader co-founder filbfilb expects Bitcoin to consolidate well into the first quarter of the next year. Lex Moskovski, CIO of Moskovski Capital, also expects “a slow grind up.”

Could Bitcoin hit a bottom within the next few days? Let’s analyze the charts of the top-5 cryptocurrencies that could lead the markets higher.