The cryptocurrency market continues to experience a downturn, with altcoins bearing the brunt of the bearish sentiment. Despite the commencement of Apple's highly anticipated WWDC 2024 event, the crypto market has failed to respond positively, indicating a lack of interest among buyers. This development suggests a bleak outlook for the industry, with altcoins likely to suffer further losses.

Bitcoin's influence on the market is significant, and its recent instability has contributed to the bearish trend. A drop in BTC below the $64,000 level could exacerbate the situation, leading to another market crash. The four-hour imbalance, ranging from $64,733 to $62,984, is a critical zone for buyers to accumulate BTC at a discount, potentially giving the uptrend another chance.

However, if BTC fails to stabilize or provide a directional bias, investors may need to exercise caution. The worst-case scenario would involve both BTC and Nvidia Corp's stock (NVDA) shedding value simultaneously, leading to a further decline in open interest and liquidation of bulls. This could have a ripple effect on Artificial Intelligence (AI) altcoins, which are already struggling.

In conclusion, the crypto market is facing a challenging period, with altcoins likely to suffer further losses. Bitcoin's instability and the lack of interest among buyers are significant concerns, and investors must be cautious until the market stabilizes or provides a clear directional bias.