Markets
BTC price falls to $60K again, DOT falls further away from $6 (market watch)
Bitcoin’s disappointing price action continues as the asset failed to maintain 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 last day alone.
Will BTC Lose $60K?
The weekend was a familiar one as the price of BTC stagnated 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 scenario changed for the worse on Monday when the bears stepped on the gas. In a matter of hours, they pushed the cryptocurrency hard south, and BTC dropped to $58,400 on Tuesday morning. This became the lowest price in almost two months.
The bulls managed to intervene at this point and took bitcoin above $60,000 almost immediately. Until spiked to $62,400 during the day, but failed to continue rising or even maintain its current position.
Since then. Bitcoin has retraced almost two thousand and is now well below $61,000. Its market cap has fallen below $1.2 trillion once again, and its dominance over alts has reached 50.6% in CG.
Bitcoin/Price/Chart 27.06.2024. Source: TradingView
DOT goes from $6
Larger-cap alts also bled in the previous day. Binance Coin, Ripple, Solana, Tron and Ethereum are among the least hit alts, having all fallen around 1%.
However, DOGE, ADA, LINK, SHIB, NEAR, and PEPE declined by more than 3% over the same period. FET, on the other hand, fell 11% to below $1.55.
KAS is the only notable gainer among the larger-cap alts, having risen 8% to $0.175.
The total crypto market value fell by more than $30 billion overnight and fell to $2.365 trillion.
Cryptocurrency market overview. Source: QuantifyCrypto SPECIAL OFFER (sponsored)
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Cryptocurrency Charts by TradingView.