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.
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