Markets
BTC Price Slips Again Toward $60,000, DOT Moves Further Back 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 played out as usual, with the BTC price stagnating 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 south, and BTC fell to $58,400 on Tuesday morning. This became its lowest price in almost two months.
The bulls managed to step in at this point and pushed Bitcoin to over $60,000 almost immediately. That’s even spiked up to $62,400 during the day, but failed to continue higher 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 cap fell below $1.2 trillion again, and its alt dominance dropped to 50.6% on CG.
Bitcoin/Price/Chart 06/27/2024. Source: TradingView
DOT disappears from $6
Larger-cap alternatives have also lost their blood in recent days. Binance Coin, Ripple, Solana, Tron and Ethereum are among the least affected alts, all falling by around 1%.
However, DOGE, ADA, LINK, SHIB, NEAR, and PEPE declined by more than 3% during the same period. FET, on the other hand, fell 11% to below $1.55.
KAS is the only notable gainer among larger-cap alternative assets, having jumped 8% to $0.175.
The total crypto market cap lost over $30 billion overnight and fell to $2.365 trillion.
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Cryptocurrency Charts by TradingView.