Markets
Bitcoin (BTC) Price Shakes at $66,000, Polkadot (DOT) Defends $6 (Market Watch)
Bitcoin had another quiet weekend, spending it in a tight range between $66,000 and $66,500 before unsuccessfully attempting to break out of it.
Altcoins also turned red daily, with AVAX, NEAR and UNI leading the unfavorable trend.
BTC falls back to $66,000
The leading cryptocurrency began the previous business week with an attempt to surpass the coveted $70,000 level after another quiet weekend. However, the bears were quick to intercept the move and pushed the asset south by four thousand dollars. This preceded the US CPI numbers and the subsequent FOMC meeting.
After inflation data was released and exceeded expectations, BTC skyrocketed income at $70,000, but the Fed refusal Following the ECB’s lead in reducing interest rates led to a further decline. This time, bitcoin fell to a monthly low of $65,000.
Nonetheless, BTC managed to regain some ground by the time the weekend rolled around and surged to just over $66,000. He spent the next 48 hours stayed there but was targeting $67,000 earlier today. This attempt was unsuccessful and BTC now sits just inches above $66,000 after a minor retracement.
Its market cap remains at $1.3 trillion and its alt dominance has increased slightly to 51.4% on CG.
Bitcoin/Price/Chart 06/17/2024. Source: TradingView
Alts turn red
Most of the larger cap alts turned red, like BTC. ETH, BNB, and TON are down less than 1%, while DOGE, ADA, and LINK are down just over a percentage.
DOT managed to defend the $6 support line, while DOGE, AVAX, SHIB, BCH, NEAR, UNI and IMX dumped significantly, with up to 7% in the case of IMX. FET lost the most value against larger-cap alternative assets, having fallen 10% to $1.3.
SOL, XRP, TRX and KAS saw insignificant gains. However, the total crypto market capitalization lost more than $30 billion in one day.
Cryptocurrency market overview. Source: QuantifyCrypto SPECIAL OFFER (Sponsored)
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Cryptocurrency Charts by TradingView.