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Bitcoin falls below $63,000 while the most important coins see a bloodbath
Bitcoin (BTC), the world’s oldest and most valued cryptocurrency, fell below the $63,000 mark over the weekend. Other popular altcoins — including Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Solana (SOL), and Litecoin (LTC) — ended up in the red across the board as the overall market fear and greed index he remained standing. to 49 (Neutral) out of 100, according to CoinMarketCap data. The UNUS SED LEO (LEO) token was the only gainer, jumping nearly 1% in the space of 24 hours. LayerZero (ZRO) became the biggest loser, down more than 13% over 24.
At the time of writing, the global cryptocurrency market capitalization stood at $2.29 trillion, recording a 24-hour decline of 2.79%.
Bitcoin (BTC) price today
According to CoinMarketCap, the price of Bitcoin stood at $62,852.10, recording a decline of 2.35% in the 24 hours. According to Indian exchange WazirX, the price of BTC stood at Rs 57.50 lakh.
Ethereum (ETH) price today
At the time of writing, the price of ETH stood at $3,404.03, marking a 24-hour loss of 3.16%. According to WazirX, the price of Ethereum in India stood at Rs 3.10 lakh.
Dogecoin (DOGE) price today
DOGE posted a 24-hour loss of 3.14%, according to CoinMarketCap data, currently valued at $0.1207. According to WazirX, the price of Dogecoin in India was Rs 11.15.
Litecoin (LTC) price today
Litecoin recorded a 3.72% drop in 24 hours. As of this writing, it was trading at $71.89. The price of LTC in India stood at Rs 6,552.
Ripple (XRP) price today
XRP price settled at $0.4746, recording a 24-hour gain of 2.73%. According to WazirX, Ripple price stood at Rs 43.26.
Solana (SOL) Price today
Solana’s price stood at $126.48, marking a 6.14% drop in 24 hours. According to WazirX, the SOL price in India stood at Rs 11,700.90.
Top cryptocurrency gains today (June 24)
According to CoinMarketCap data, here are the five biggest cryptocurrency gains in the last 24 hours:
UNUS SED LEO (LEO)
Price: $5.78
Earnings over 24 hours: 0.32%.
ORDER (ORDER)
Price: $40.41
Earnings over 24 hours: 5.16%.
Fantom (FTM)
Price: $0.5703
Earnings over 24 hours: 4.40%.
NEAR (NEAR) protocol
Price: $5.25
Earnings over 24 hours: 4.31%.
Sui (SUI)
Price: $0.9056
Earnings over 24 hours: 4.30%.
Top cryptocurrency losers today (June 24)
According to CoinMarketCap data, here are the top five cryptocurrency losers over the past 24 hours:
LevelZero (ZRO)
Price: $2.70
Loss in 24 hours: 13.29%.
Ethereum Name Service (ENS)
Price: $22.83
Loss in 24 hours: 10.60%.
dogwifhat (WIF)
Price: $1.59
Loss in 24 hours: 10.59%.
Brett (based) (BRETT)
Price: $0.1332
Loss in 24 hours: 10.15%.
PENDLE (PENDLE)
Price: $5.50
Loss in 24 hours: 9.56%.
What cryptocurrency exchanges are saying about the current market scenario
Mudrex co-founder and CEO Edul Patel told ABP Live: “Bitcoin traded around the $62,000 level over the weekend, hitting a one-month low. BTC has been trading in the red for the past few weeks , amidst a strong dollar and a robust US tech index market Furthermore, activity in US spot Bitcoin ETFs has also declined, there is a possibility of a breakout followed by a move towards the $60,000 level. Likewise, Ethereum fell to the $3,400 level. With bears dominating the market, most altcoins are also trading in the red.”
The CoinSwitch Markets Desk noted: “Bitcoin fell below $64,000 for the first time since mid-May, aligning with a broader market downturn as the S&P 500 and Nasdaq Composite indexes also suffered declines. Analysts attribute this to negative sentiment to concerns about a higher interest rate regime and a potential economic slowdown Additionally, US spot bitcoin ETFs recorded their fifth consecutive day of outflows, which may have put further pressure on prices. Despite the recent pullback, Bitcoin remains up more than 50% year to date and continues to trade well above 2023 lows. This resilience underlines its continued appeal to investors.”
Rajagopal Menon, Vice President of WazirX, said: “Bitcoin fell below the $66,000 support, now turned into resistance, and is trading at around $62,954, down 2.81%. This marks a fundamental shift in market behavior. Approximately 1.9 million addresses purchased BTC between $63,493 and $64,931. If breached, the new support level could lead to further declines as investors try to break even, adding selling pressure to this level. With a decline of 2.87% in the last 24 hours, currently trading at $3,408, Ethereum shows reversal potential by entering a descending wedge pattern and relying on the 50 EMA support. This pattern suggests a bullish reversal, with ETH could soon break higher. With the RSI near 46, ETH is poised to move higher without strong selling pressures further supporting a bullish breakout.”
Sathvik Vishwanath, CEO and co-founder of Unocoin, said: “Bitcoin is currently trading at $64,380, which is slightly below the pivot point of $64,500, indicating a bearish trend. Retail investor interest has increased by 7% since May, indicating potential market stabilization. Analysts point out that retail momentum and profits from crypto whale reinvestment could support the recovery. Mining dynamics are crucial as inefficient miners exit the market, signaling potential increases The key resistance levels are at $65,000, $65,700 and $66,500, while support lies at $64,000, $63,500 and $62,900. The RSI is neutral at 47.8 and the 50-day EMA is at $64,500. adding resistance, indicating persistent bearish sentiment.”
Shivam Thakral, CEO of BuyUcoin, said: “According to media reports, the US Commodities Futures Trading Commission (CFTC) is investigating Jump Crypto and it remains to be seen whether the CFTC will consider any charges against the company. Negative news showed an immediate impact on the cryptocurrency market as BTC slipped below the $64,000 mark over the weekend. On the other hand, at the time of writing Ethereum is changing hands at the $3,385 level, with a decline. by more than 3.5% compared to the previous day. The market is expected to remain unstable in the coming weeks due to uncertain macroeconomic factors.”
The CoinDCX research team told ABP Live: “The cryptocurrency market continues to fall and remains unstable as BTC declines due to negative ETF flows and poor macro data from previous weeks. BTC fell below the level key at $64,000, with key support levels at $60,700 and $56,700 and resistance at $67,100 and $71,650 ETH is trading sideways and needs to break the low or high range to take clearer direction for significant support levels ETH are $3,435 and $3,350, while the resistance levels are $3,650 and $3,950.
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Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any losses arising from such transactions. Cryptocurrency is not legal tender and is subject to market risks. Readers are advised to seek expert advice and carefully read the offering documents along with relevant relevant literature on the subject before making any type of investment. Cryptocurrency market forecasts are speculative and any investments made will be at the sole cost and risk of the readers.