Markets
Bitcoin Pulls Back Towards $60,000, XRP Defies Negative Sentiment (Market Watch)
Bitcoin price failed to maintain its positive performance over the past few days, and bears managed to push it back towards the $60,000 pivot level.
All eyes are now on it as a cryptocurrency defies negative sentiment over the past 24 hours.
Bitcoin Price Falls Towards $60,000
Bitcoin price failed to continue the rally that begin The cryptocurrency’s price climbed 1.4% earlier this week and is now approaching $60,000. At the time of writing, the market-leading cryptocurrency is trading at $60,700, down 3% on the day and 1.4% on the week.
As can be seen from the chart above, the price broke down for a few hourly candles on July 3, finding some sort of support at current levels.
It is important to see whether this will last or whether the bears are determined to push BTC below the critical psychological and technical point of $60,000.
Altcoins Suffer, But XRP Price Remains High
Most large-cap altcoins are trading in the red. Examples include Ethereum, down nearly 3%, BNB – down 2.2%, SOL – down 1%, DOGE – down 1.4%, PEPE – down 5.6%, etc.
There are, however, a few that have managed to halt the fall and remain stable. One of them is XRP. The main reason why XRP is trading in the green is related to a update regarding the case between Ripple and the United States Securities and Exchange Commission.
The company recently filed a supplemental notice of authorization regarding a decision relating to cryptocurrency exchange Binance.
In essence, last week Judge Amy Jackson rejected the regulator’s claims that BNB sales on the secondary market constituted securities transactions.
For their part, Ripple Labs is trying to use this information in their favor, arguing that it supports their cause. It will be interesting to see how the case ends and whether Ripple comes out on top or not.
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