Even the Hong Kong-based Bitcoin and Ethereum ETFs can’t shake off the negative sentiment in the crypto market, as the primary cryptocurrency dropped back down to around $62,000.
Aside from CRO, which has jumped by about 5%, the rest of the larger-cap alts are either in the red or with insignificant gains.
BTC Fails at $65K
Bitcoin had a more positive start to the previous business week, as it jumped to over $67,000 on a few occasions. However, it didn’t see much success at this point as the bears quickly intercepted the attempts and pushed it south hard, especially after the last one on Wednesday.
Back then, BTC slumped by several thousand dollars within a day or so and fell to $62,800. It bounced off but was later driven to $62,400. The weekend was relatively quiet, with even a price increase toward $64,500 on Sunday.
Yet, bitcoin couldn’t keep its momentum going and started losing value once again on Monday. This culminated in a price drop to $61,700, which became a ten-day low.
In the following hours, the bitcoin bulls showed some teeth and pushed the asset to $64,800. Another rejection followed, and BTC currently struggles to remain above $62,000 once again.
Its market capitalization has dumped below $1.230 trillion, while its dominance over the alts is close to 51%.
CRO Defies the Odds
Most of the larger-cap alts followed BTC on the way up but have faced similar rejections in the past few hours. Ethereum went above $3,200 as the Hong Kong BTC and ETH ETFs went live but has dropped to under $3,100 now.
Solana, Cardano, Bitcoin Cash, Polkadot, Chainlink, MATIC, and ICP have declined by about 2-4%, while NEAR has dumped by more than 5% in a day.
CRO and Avalanche are the only notable price gainers, while TON, SHIB, BNB, and TRX are with insignificant increases.
The total crypto market cap has lost another $40 billion overnight and is down to $2.410 trillion on CG.
LIMITED OFFER 2024 for CryptoPotato readers at Bybit: Use this link to register and open a $500 BTC-USDT position on Bybit Exchange for free!
Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.
Cryptocurrency charts by TradingView.
