As an experienced analyst with a background in cryptocurrency markets, I’m closely monitoring the current trend of declining prices across the board. Bitcoin’s slide toward $60K is particularly concerning as it represents a significant loss for investors who have held onto their positions during this week. The total market capitalization, now down to $2.37 trillion, further highlights the scope of these losses.
Today, cryptocurrency markets are experiencing a downturn with moderate trading activity. Bitcoin is approaching a price of around $60,000, while most alternative coins are gradually losing value.
The total capitalization is down to $2.37 trillion.
Bitcoin Price Slides Toward $60K
The price of Bitcoin has dropped by 1.3% within the last 24 hours, resulting in a weekly loss of approximately 6%.
As a crypto investor, I’m observing that at present, the primary cryptocurrency is trending downward towards the $60,000 mark with comparatively minimal trading activity occurring across the exchanges.
In the past 24 hours, a grand total of $100 million worth of cryptocurrencies was liquidated from the market, with Bitcoin accounting for approximately $37 million of that amount.
Altcoins Are Bleeding Out
I’ve noticed that several large-cap altcoins are experiencing minor setbacks today. For instance, Ethereum (ETH) has decreased by 1.8%, Binance Coin (BNB) by 1.6%, Solana (SOL) by 2.5%, and Toncoin (TON) by 1.7%. These declines may not be significant in the grand scheme of things, but it’s essential to keep a close eye on market movements as a responsible crypto investor.
Others are down more considerably, like UNI, which declined by 6%.
Meme coins, a fascinating segment within the cryptocurrency industry, have experienced comparable setbacks. As a group, they have collectively decreased by more than 3% in the last 24 hours. Specifically, Dogecoin and Shiba Inu have dropped by around 1.3%.
PEPE dropped by 5.2%, while BON dropped by 3%.
Among the tokens mentioned, Lido’s LDO governance token had the most significant loss, amounting to 15%. Ethena’s ENA followed closely with a decrease of 9.2%, while Starknet’s STRK experienced a decline of 6.4%.
As a researcher examining the daily performance of various cryptocurrencies, I’ve observed significant gains in two tokens – Quant’s QNT and Arweave’s AR. Particularly noteworthy is the impressive 10% surge experienced by QNT on this specific day. Arweave’s AR followed closely behind with a commendable increase of 4%.
Over the last 24 hours, trading volumes have decreased to approximately $67 billion. This isn’t surprising since it’s the weekend. It’ll be intriguing to observe how this narrow range unfolds and whether the bulls will make a comeback or if we’re in for more corrections.
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2024-06-29 10:36