Bitcoin’s price dipped below $59,000 once again yesterday after the latest escalation in the Middle East war, but has managed to rebound to $60,000 as of press time.
Most larger-cap alts mimicked BTC’s performance but have remained sluggish on a 24-hour scale, with ETH close to $1,600. SOL has jumped by over 2% and sits at $73.
BTC Back to $60K
The previous business week began on a lot more positive note, as bitcoin rocketed to $65,500 after the weekend slumber. However, this was another dead-cat bounce that was followed by more profound and painful declines. The first occurred almost immediately and drove BTC south to under $62,400. That was just the start, though, as the bears were about to regain full control of the market.
The next couple of leg downs were a lot more vicious. At first, bitcoin plunged to $59,000, bounced off to $62,000, but it was rejected there almost immediately. The culmination, at least for now, occurred on Thursday when the asset plummeted to $58,000 to reach its lowest price tag since before the US presidential elections in 2024.
The bulls were finally able to halt the freefall, helping bitcoin recover to $60,000 over the weekend. BTC was even stopped at $60,800 after the US and Iran exchanged some blows, and it dipped by two grand to $58,800 on Sunday evening. It has rebounded to $60,000 as of now after the two sides announced they will stand down, for now.
Bitcoin’s market cap struggles at $1.2 trillion, while its dominance over the alts remains at just under 56% on CG.
PI Dives After Pi2Day
Pi Network’s community celebrated Pi2Day on June 28, the second-most anticipated day on their calendar. The team announced new major features, but the native token reacted with a massive 5% drop to just under $0.12 earlier today before it managed to reclaim that level as of press time. CC and WLD are the other major losers from the larger-cap alts, losing over 4% each.
Even more painful losses are evident from LAB (-19%), BEAT (-11%), and M (-7.5%). MemeCore is down by nearly 80% in the past week alone. In contrast, BinanceLife has rocketed by 37%, followed by VELVET’s 12% surge.
Most larger-cap alts have remained at essentially the same levels as yesterday. SOL and BCH have gained the most, up by over 2% to $73 and $197, respectively.
The total crypto market cap has defended the $2.150 trillion level on CG.
The post Pi Network’s PI Token Dumps 5% Despite Hype, BTC Returns to $60K: Market Watch appeared first on CryptoPotato.
LAB and BEAT have plummeted the most over the past 24 hours, dropping by double digits. Crypto News, Market Updates, social, Top News
This articles is written by : Nermeen Nabil Khear Abdelmalak
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