Markets
The price of BTC slides again towards $60,000, DOT moves further away from $6 (Market Watch)
Bitcoin’s disappointing price action continues as the asset failed to hold above $61,000 and headed towards the coveted $60,000 support level.
Altcoins are in a similar state, with DOGE, ADA, SHIB, LINK, PEPE, NEAR and others down more than 3% in the last day alone.
Will BTC Lose $60,000?
The weekend unfolded in a familiar fashion as the price of BTC stopped at just over $64,000. The lack of any action on the ETF front resulted in little to no volatility on Saturday and Sunday.
The landscape changed for the worse on Monday, when the bears accelerated. In a matter of hours, they pushed the cryptocurrency hard southand BTC tumbled to $58,400 on Tuesday morning. This became the lowest price in almost two months.
The bulls managed to intervene at this point and pushed bitcoin above $60,000 almost immediately. Also pointed to $62,400 during the day, but failed to continue rising or even maintain its current position.
Since. bitcoin has retraced almost two thousand dollars and is now well below $61,000. Its market capitalization has once again fallen below $1.2 trillion and its dominance over alternatives has fallen to 50.6% over CG.
Bitcoin/Price/Chart 06.27.2024. Source: TradingView
DOT disappears from $6
Even the larger cap alternatives bled out in the last day. Binance Coin, Ripple, Solana, Tron and Ethereum are among the least affected alternatives, having all fallen by around 1%.
However, DOGE, ADA, LINK, SHIB, NEAR and PEPE have declined by more than 3% in the same time frame. FETs, on the other hand, fell 11% to below $1.55.
KAS is the only stock that gained more than larger-cap alternatives, rising 8% to $0.175.
The total capitalization of the cryptocurrency market lost over $30 billion overnight and fell to $2.365 trillion.
Cryptocurrency market overview. Source: QuantifyCrypto SPECIAL OFFER (Sponsored)
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Cryptocurrency charts from TradingView.