Top 5 cryptocurrencies to watch this week: BTC, ETH, BNB, XMR, CAKE

Corrections in a bull phase are usually a bullish sign as they reduce the frothy excitement and allow stronger hands to enter the markets. However, the recent correction in (BTC) from its all-time high at $64,849.27 does not seem to have scared novice traders.

Data from DappRadar shows that decentralized exchange volumes have picked up in the last week as traders may have exited profitable Bitcoin positions to buy altcoins at their current rock bottom prices.

Crypto market data daily view. Source: Coin360
daily chart. Source: TradingView
BTC/USDT 4-hour chart. Source: TradingView
ETH/USDT daily chart. Source: TradingView
ETH/USDT 4-hour chart. Source: TradingView
BNB/USDT daily chart. Source: TradingView
BNB/USDT 4-hour chart. Source: TradingView
XMR/USDT daily chart. Source: TradingView
XMR/USDT 4-hour chart. Source: TradingView
CAKE/USDT daily chart. Source: TradingView
VORTECS™ Score (green) vs. CAKE price. Source: Cointelegraph Markets Pro
CAKE/USDT 4-hour chart. Source: TradingView