The cryptocurrency market is experiencing a downturn, with Bitcoin heading towards the US$60,000 mark and a general drop in altcoins. The situation is marked by a lower-than-normal trading volume.
Bitcoin, the market’s leading cryptocurrency, is currently trading at $60,900 with no gains in the last 24 hours, which increases its accumulated losses to around 5% for the week.
Besides Bitcoin, large-cap altcoins are also seeing modest declines. Ethereum (ETH) saw a low near $3,360 during the day, while Binance Coin (BNB) and Solana (SOL) saw declines of nearly 2%, respectively. TON saw a gain of 1% to $7.61.
Among the steepest decliners is Lido DAO (LDO), which saw a 15% decrease in its price. So-called meme coins such as Dogecoin (DOGE) and Shiba Inu (SHIB) also faced losses, decreasing 1.3% each. PepeCoin (PEPE) is close to $0.00001164 and has seen a 6% drop in the last 24 hours.
On the upside, the Quant token (QNT) surprised with an 8% surge on the day, followed by dogwifhat (WIF), which grew 7%.
This bearish scenario is mainly due to the liquidation in the market, which reached a value of US$ 100 million in the last 24 hours, with Bitcoin contributing US$ 37 million of this amount.
In short, the price of Bitcoin is attempting a recovery wave above the $64,000 level. If BTC remains above $62,500, it could rally and recover to $70,000.
Disclaimer:
The views and opinions expressed by the author, or any person mentioned in this article, are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading cryptocurrencies carries a risk of financial loss.
Source: https://portalcripto.com.br/bitcoin-luta-para-manter-us-60-mil-enquanto-mercado-de-criptomoedas-enfrenta-queda/
