The cryptocurrency market is currently facing challenges, with Bitcoin trading at $61,500. The price of Bitcoin had dropped to a crucial support level after testing $65,000, leading to significant selling pressure. There is a struggle between bullish and bearish forces in the market.

In terms of cryptocurrency investments, there was a substantial inflow of $595 million in spot Bitcoin exchange-traded funds from May 3 to May 6. However, there was a disappointing outflow of $15 million on May 7. Despite uncertainties in the short term, it is noted that Bitcoin remains above the 200-day simple moving average of $50,000, indicating a clear uptrend.

Susquehanna International Group revealed that it collected over $1 billion in BTC ETFs in the first quarter of 2024, showing significant interest from large trading firms. This interest suggests a potential demand via the ETF channel, although its full impact is yet to be seen.

Regarding altcoins, focusing on SOL Coin, maintaining the $146 level is crucial, as a drop below it could lead to a decline to $126 and ultimately $100. However, breaking the resistance at $162 could open up targets at $185 and $205. The prevailing sentiment in the market is negative, favoring a bearish scenario.

XRP Coin is currently trading between $0.57 and $0.46, with a potential drop if it falls below $0.53. On the other hand, breaking through the resistance zone could push the price to $0.67. Legal matters surrounding XRP are ongoing, with no major developments reported yet. Experts anticipate that the legal proceedings could extend until 2026.

Looking at Avalanche (AVAX), the price fell below the $40 resistance level on May 6, signaling a weaker position compared to other altcoins. Potential price declines could lead to levels of $29 and $18. The performance of AVAX is less active when compared to other altcoins like SOL Coin.

In conclusion, the market is currently experiencing turbulence, with different cryptocurrencies facing unique challenges and opportunities.