Markets
BTC Price Falls Again Towards $60,000, DOT Pulls Further Backwards By $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 falling more than 3% in the past day alone.
Will BTC Lose $60,000?
The weekend unfolded in a familiar manner as the BTC price held steady 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 picture got worse on Monday as bears stepped on the gas. Within hours, they pushed the cryptocurrency hard southand BTC dropped to $58,400 on Tuesday morning. That became its lowest price in nearly two months.
The bulls managed to step in at this point and propelled bitcoin to over $60,000 almost immediately. spiked to $62,400 during the day, but failed to continue its rise or even maintain its current position.
Since then, bitcoin has fallen by almost two thousand dollars and is now well below $61,000. Its market capitalization fell below $1.2 trillion again, and its altcoin dominance was reduced to 50.6% on CG.
Bitcoin/Price/Chart 06/27/2024. Source: TradingView
DOT disappears from $6
Larger-cap alts have also been losing blood in recent days. Binance Coin, Ripple, Solana, Tron, and Ethereum are among the least affected alts, all down around 1%.
However, DOGE, ADA, LINK, SHIB, NEAR, and PEPE have declined by more than 3% during the same period. FET, on the other hand, has fallen by 11% to below $1.55.
KAS was the only notable gainer among larger-cap alts, jumping 8% to $0.175.
The total market capitalization of cryptocurrencies lost more than $30 billion overnight and fell to $2.365 trillion.
Cryptocurrency Market Overview. Source: QuantifyCrypto SPECIAL OFFER (Sponsored)
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