Bitcoin (BTC) price drops back from $62,000 after another rejection to $65,000 (market watch)

Even Hong Kong-based Bitcoin and Ethereum ETFs can’t take the negative sentiment out of the crypto market as the major cryptocurrency slipped back to around $62,000.

Apart from CRO, which is up around 5%, the rest of the larger-cap stocks are either in the red or with negligible gains.

BTC fails at $65,000

Bitcoin had a more positive start to the previous business week, jumping above $67,000 at times. However, he didn’t have much success at this point, as bassists quickly intercepted the attempts and pushed him hard south, especially after last Wednesday.

BTC then dropped by several thousand dollars in about a day and fell to $62,800. It bounced back, but later reached $62,400. The weekend was relatively quiet, even with a price increase to $64,500 on Sunday.

However, bitcoin was unable to sustain its momentum and began to lose value once again on Monday. This culminated in a price drop to $61,700, which became a ten-day low.

In the hours that followed, bitcoin bulls showed some teeth and pushed the asset to $64,800. Another rejection followed, and BTC is currently struggling to stay above $62,000 once again.

Its market capitalization has fallen below $1.23 trillion, while its dominance of the highs is approaching 51%.

Bitcoin/Price/Chart 04/30/2024. Source: TradingView CRO defies the odds

Most of the larger-cap alternatives followed BTC on the rise, but have faced similar rejections in recent hours. Ethereum topped $3,200 when the Hong Kong BTC and ETH ETF went live, but has now dropped below $3,100.

Solana, Cardano, Bitcoin Cash, Polkadot, Chainlink, MATIC and ICP are all down around 2-4%, while NEAR has shed over 5% in a day.

CRO and Avalanche are the only notable price increases, while TON, SHIB, BNB and TRX have negligible increases.

The total crypto market capitalization has lost another $40 billion overnight and is down to $2.410 trillion in CG.

Cryptocurrency Market Overview. Source: QuantifyCrypto SPECIAL OFFER (sponsored) LIMITED OFFER 2024 for CryptoPotato readers on Bybit: Use this link to register and open a $500 BTC-USDT position on Bybit Exchange for free!

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