Bitcoin’s underwhelming price movements continue as the asset was stopped at $66,400 and was pushed down toward $64,000 for the third time this week.
The altcoins have turned red as well, with numerous painful declines, especially from the meme coin niche.
It’s safe to say that the primary cryptocurrency has seen better days in terms of price movements. In fact, just last week, it pumped to $70,000 on a couple of occasions, but its failure to continue north resulted in painful rejections that pushed it to under $65,000 by Friday.
The weekend was less eventful as the asset reclaimed some ground and stood at just over $66,000. The start of the new business week began with a leg up toward $67,000, which was halted in its tracks, and the bears drove BTC south to a monthly low of $64,000.
After bouncing off, bitcoin went on the offensive yesterday and jumped to just shy of $66,500 (on Bitstamp). Yet, another rejection followed, and BTC now struggles to remain above $64,000 once again.
These price drops come amid continuous outflows from the spot Bitcoin ETFs. After the pause on June 19, the withdrawals yesterday were close to $140 million, with GBTC outplacing FBTC for the first time in days.
With BTC now being 2% down on the day, its market cap has slumped to $1.265 trillion. Its dominance over the alts is slightly up, though, to 51.5%.
Bitcoin/Price/Chart. 21.06.2024. Source: TradingView
The altcoins are in an even worse shape than BTC, at least the majority of them. ETH is down by more than 3% and sits below the psychological support of $3,500. BNB has declined by a similar percentage to $583.
More losses come from SOL, SHIB, DOT, LINK, XRP, DOGE, ADA, and others from the larger-cap cohort.
However, some of the biggest losers on a daily scale are from the meme coin realm. WIF dumped to a multi-month low today, followed by JASMY, BONK, BRETT, PEPE, and FLOKI – all of them are down by more than 8% in a day.
The cumulative market cap of all crypto assets has seen about $50 billion gone in a day.
Cryptocurrency Market Overview. Source: QuantifyCrypto
The post BTC Price Dumps Toward $64K Again as Spot Bitcoin ETF Outflows Continue (Market Watch) appeared first on CryptoPotato.
The altcoins have turned red as well, with numerous painful declines, especially from the meme coin niche.
BTC Slips Toward $64K
It’s safe to say that the primary cryptocurrency has seen better days in terms of price movements. In fact, just last week, it pumped to $70,000 on a couple of occasions, but its failure to continue north resulted in painful rejections that pushed it to under $65,000 by Friday.
The weekend was less eventful as the asset reclaimed some ground and stood at just over $66,000. The start of the new business week began with a leg up toward $67,000, which was halted in its tracks, and the bears drove BTC south to a monthly low of $64,000.
After bouncing off, bitcoin went on the offensive yesterday and jumped to just shy of $66,500 (on Bitstamp). Yet, another rejection followed, and BTC now struggles to remain above $64,000 once again.
These price drops come amid continuous outflows from the spot Bitcoin ETFs. After the pause on June 19, the withdrawals yesterday were close to $140 million, with GBTC outplacing FBTC for the first time in days.
With BTC now being 2% down on the day, its market cap has slumped to $1.265 trillion. Its dominance over the alts is slightly up, though, to 51.5%.
Bitcoin/Price/Chart. 21.06.2024. Source: TradingView
Meme Coins Suffer
The altcoins are in an even worse shape than BTC, at least the majority of them. ETH is down by more than 3% and sits below the psychological support of $3,500. BNB has declined by a similar percentage to $583.
More losses come from SOL, SHIB, DOT, LINK, XRP, DOGE, ADA, and others from the larger-cap cohort.
However, some of the biggest losers on a daily scale are from the meme coin realm. WIF dumped to a multi-month low today, followed by JASMY, BONK, BRETT, PEPE, and FLOKI – all of them are down by more than 8% in a day.
The cumulative market cap of all crypto assets has seen about $50 billion gone in a day.
Cryptocurrency Market Overview. Source: QuantifyCrypto
The post BTC Price Dumps Toward $64K Again as Spot Bitcoin ETF Outflows Continue (Market Watch) appeared first on CryptoPotato.
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