Bitcoin's disappointing price movements continue as the asset was halted at $66,400 and fell towards $64,000 for the third time this week.
Altcoins turned red as well, with several painful declines, especially from the meme space.
BTC slides towards $64,000
It is safe to say that the underlying cryptocurrency has seen better days in terms of price movements. In fact, just last week, she put in as much as $70,000 on several occasions, but her failure to continue north led to a painful rejection that pushed her below $65,000 by Friday.
The weekend was less eventful as the asset regained some ground and reached just over $66,000. The start of the new business week began with a rally around $67,000, which stopped in its tracks, and the bears drove Bitcoin south to a monthly low of $64,000.
After the bounce, Bitcoin went on the offensive yesterday and jumped to nearly $66,500 (on Bitstamp). However, another rejection followed, and BTC is now struggling to stay above $64,000 again.
These price declines come amid ongoing outflows from Bitcoin exchange-traded funds. After stopping on June 19, withdrawals yesterday approached $140 million, with GBTC superiority FBTC for the first time in days.
With BTC now down 2% on the day, its market capitalization has fallen to $1.265 trillion. However, its dominance over alts rose slightly to 51.5%.
Meme coins are suffering
Altcoins are in a worse position than Bitcoin, at least for the most part. ETH price is down more than 3% and is below the psychological support of $3,500. BNB token price fell by a similar percentage to $583.
More losses come from SOL, SHIB, DOT, LINK, XRP, DOGE, ADA, and others from the group with larger capital.
However, some of the biggest losers on a daily scale are from the world of meme currencies. WIF fell to a multi-month low today, followed by JASMY, BONK, BRETT, PEPE, and FLOKI – all of whom fell more than 8% in one day.
The cumulative market cap of all crypto assets saw a loss of around $50 billion in a single day.
Free Binance $600 (Exclusively for CryptoPotato): Use this link to register a new account and get an exclusive $600 welcome offer on Binance (Full details).
BYDFi Exchange 2024 Limited Offer: Welcome Bonus up to 2,888 USD, use this link to register and open a position worth 100 USDT-M for free!
Disclaimer: The information contained in CryptoPotato is that of the cited authors. They do not represent CryptoPotato's opinions on buying, selling or holding any investments. We advise you to conduct your own research before making any investment decisions. Use of the information provided is at your own risk. See our disclaimer for more information.
Cryptocurrency charts By TradingView.