BTC price back to $60,000, DOT falls further below $6 (market watch)

Bitcoin’s underwhelming price action continues as the asset failed to hold above $61,000 and has headed towards the coveted $60,000 support level.

Altcoins are in a similar state, with DOGE, ADA, SHIB, LINK, PEPE, NEAR and others all down more than 3% in the last day alone.

Will BTC lose $60,000?

The weekend went in a familiar fashion as the price of BTC had stalled at just over $64,000. The lack of action on the ETF front led to little to no volatility on Saturday and Sunday.

The landscape got worse Monday when the bears hit the gas. In a matter of hours, they pushed the cryptocurrency hard south and BTC was down to $58,400 on Tuesday morning. This became its lowest price in almost two months.

The bulls managed to intervene at this point and took bitcoin over $60,000 almost immediately. It even rose to $62,400 during the day, but could not continue higher or even hold its current position.

Since then. Bitcoin has retraced almost two grand and is now well below $61,000. Its market cap has dipped below $1.2 trillion once again, and its dominance of the highs has seen it hit 50.6% on CG.

Bitcoin/Price/Chart 06/27/2024. Source: TradingView DOT pulls away from $6

Larger-cap highs have also sold out over the past day. Binance Coin, Ripple, Solana, Tron and Ethereum are among the least affected alternatives, all down around 1%.

However, DOGE, ADA, LINK, SHIB, NEAR and PEPE have all declined by more than 3% in the same time period. FET, on the other hand, has fallen 11% to less than $1.55.

KAS is the only notable gainer among larger-cap alternatives, having risen 8% to $0.175.

The total crypto market capitalization has lost over $30 billion overnight and is down to $2.365 trillion.

Cryptocurrency Market Overview. Source: QuantifyCrypto SPECIAL OFFER (Sponsored) Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive an exclusive welcome offer of $600 to Binance (full details).

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