Bitcoin's recent weekend surge to nearly $70,000 could not be sustained, leading to a decline of 2.2% and settling above $67,000 as of early Tuesday.

• This downward trend was also noted among other major cryptocurrencies, like Ethereum (ETH), Toncoin (TON), and Cardano (ADA), with liquidations exceeding $165 million in leveraged long positions, indicating a high degree of market leverage in use.
• Analysts foresee a week of sideways movements for cryptocurrencies such as BTC and ETH, struggling to break above key resistance levels.

The CoinDesk 20 index, which tracks top cryptocurrencies by market capitalization, recorded a loss of 2.1%. This downturn was marked by over $165 million in long positions liquidated across crypto futures, showcasing a significant leverage flush.

In contrast, Simon's Cat (CAT) token experienced impressive growth, soaring 63% following its listing on Binance, as trading volume skyrocketed from $80 million to over $422 million in just 24 hours. CAT is backed by the well-known Simon's Cat brand and launched in partnership with Floki and DWF Labs.

Market sentiment remains cautious, with traders predicting a sideways trading range due to a lack of strong fundamental drivers in the coming week. Both BTC and ETH remain below their July highs, with BTC aiming for $70,000 and ETH for $2,800, while any breach of these levels may attract significant retail investment.

"However, with no major catalysts this week, we expect crypto to chop around these levels as it attempts to break higher," stated analysts from QCP Capital.