By Analytics Team, Giottus Cryptocurrency Exchange The past week has been a volatile one for the crypto market as Bitcoin (BTC) dropped from $36,000 levels to $29,000 mid-week before regaining most of the losses later. BTC was trading at $31,000-32,000 – a key support range that can determine the next few weeks of activity in the cryptocurrency market. Most altcoins followed BTC through the week with no standalone breakout. In this volatile scenario, traders are likely to avoid leveraged positions. BTC dropped below $30,000 mid-week amid concerns with China’s clampdown on BTC mining rigs as well as lack of support from top institutions. JP Morgan strategists believe that overall signals continue to be bearish for BTC. About $6 billion worth of options expired on Friday, triggering an 8 per cent drop in the market overnight.