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.

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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 – 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.