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The cryptocurrency scene this week presented a rollercoaster of emotions following the US jobs report on Friday the 7th, the cryptocurrency was confronted by significant selling pressure that saw it fall as low as $68,400, culminating in a sale of more than US$400 million by the market. At the time of publication, the price of BTC was quoted at US$69,460, up 0.5% in the last 24 hours.
Bitcoin’s dominance has shown signs of strengthening, fueled by an impressive 19-day streak of positive inflows into BTC-related ETFs. This phenomenon sustained volatility that, at times, favored considerable gains for the leading cryptocurrency. However, the boost was brief and after reaching $72,000 on Friday, BTC saw bears take control, leading to a sharp drop.
In this article, we will discuss:
Bitcoin Price
Bitcoin price fell below $69,000 support levels last week. BTC is now consolidating and facing obstacles, starting at $69,850. The first major resistance is near the $70,000 level, above which the price may test the $72,000 resistance zone.
![Cryptocurrency Analysis Today: Bitcoin and Ethereum Stabilize as the Market Tries to Recover](https://portalcripto.com.br/wp-content/uploads/2024/06/2387d29r34-min.jpg)
On the other hand, there is a risk of a break below the $68,800 support. There is also a downside risk to the $65,000 and $62,000 support levels.
Ethereum Price
Ethereum price after falling near $3,600 is facing resistance at $3,720 and $3,750. A close above $1,750 could increase the chances of a move to $3,850.
On the downside, if ETH fails to break the 3,700 levels, it could fall to $3,350.
Cryptocurrency Market Today
Monday, June 10, 2024 ā the price of bitcoin is consolidating at US$69,500. Likewise, most major altcoins are trading near key supports. XRP/USD corrected lower but maintains support at $0.49. Solana is near $158 with almost 1% down on the day. BNB is trying to surpass the $650 mark. Cardano is up near $0.45.
The highlight is Monero (XMR) and Chiliz (CHZ) with more than 5% increase. The memecoins Dogecoin (DOGE) and Shiba Inu (SHIB) are down almost 1%, while, in the opposite direction, Pepe Coin is up 2% on the day.
Disclaimer:
The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.
Source: https://portalcripto.com.br/analise-de-criptomoedas-hoje-bitcoin-e-ethereum-estabilizam-se-enquanto-o-mercado-tenta-recuperar-se/