The cryptocurrency market is bearish on Monday after the poor performance recorded on Sunday. Bitcoin is trading below $71,000, while Ether risks dropping below $2,100 if the bearish trend persists. Meanwhile, Dogecoin, the leading memecoin by market cap, is holding steady around $0.09000 at press time on Monday, after losing over 2% on the previous day. The consolidating performance comes as institutional demand for Dogecoin surged on Friday, with its largest inflow ever. The leverage market also shows mixed sentiment, while the momentum indicators lean bearish as DOGE tapers within a descending triangle pattern. Institutional demand for Dogecoin returns Sentiment toward Dogecoin is mixed due to the ongoing US-Iran conflict over control of the Strait of Hormuz.
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