Bitcoin’s price was unable to maintain its positive performance over the past few days, and the bears were successful in pushing it back toward the pivotal $60K level.
All eyes are now on it, while there has been one cryptocurrency that is defying the otherwise negative sentiment in the past 24 hours.
Bitcoin Price Dips Toward $60K
Bitcoin’s price failed to continue the rally that started earlier in the week and is now pushing toward $60K. At the time of this writing, the leading cryptocurrency is trading at $60,700, down 3% on the day and 1.4% on the week.
Source: TradingView
As it can be seen on the chart above, the price crashed throughout a few hourly candles on July 3rd, finding some sort of support at the current levels.
It’s important to see if this will last or if the bears are determined to take BTC below the critical psychological and technical point of $60K.
Altcoins Suffer, but XRP Price Stands Tall
The majority of large-cap altcoins are trading well in the red. Examples include Ethereum, which is down almost 3%, BNB – down 2.2%, SOL – down 1%, DOGE – down 1.4%, PEPE – down 5.6%, and so forth.
Source: Quantify Crypto
There are a few, however, that managed to curb the downfall and remained steady. One of them is XRP. The primary reason for which XRP is trading in the green is associated with an update regarding the case between Ripple and the United States Securities and Exchange Commission.
The company recently filed a Notice of Supplemental Authority regarding a decision related to the cryptocurrency exchange Binance.
In essence, last week, judge Amy Jackson dismissed the regulator’s claims that secondary market sales of BNB constituted securities transactions.
In turn, Ripple Labs attempts to use this in their favor, arguing that it supports their case. It’s interesting to see how the case will turn out and whether or not Ripple will come out on top.
The post Bitcoin Retraces Toward $60K, XRP Defies Negative Sentiment (Market Watch) appeared first on CryptoPotato.
[Sponsored] If anything, the COVID-19 pandemic has made people realize the importance of a healthy lifestyle. From improving eating habits to including exercise in daily routines, people worldwide have started giving priority to fitness. However, wanting to stay fit and actually being fit are two very different things. While everyone wants to stay fit, only…
The leading Russian bank – Sberbank – created a blockchain exchange-traded fund (ETF) tracking prominent companies in the cryptocurrency industry, such as Coinbase and Galaxy Digital. This is the first such product in Russia, which allows local investors to delve into the digital asset market without having to purchase, store, or sell tokens. Russia Has…
Several crypto projects have unlocked significant amounts of tokens, with dYdX, a decentralized exchange, leading the way by unlocking 150 million tokens. This represented 30% of the tokens allocated to investors, founders, and current and future employees, and the unlocking occurred on December 1st. DYDX – the native cryptocurrency of the dYdX chain – experienced
Popular cryptocurrency commentator and veteran entrepreneur John McAfee tweeted that people shouldn’t panic over the price of Bitcoin dropping below $9,500. The serial entrepreneur is a well-known Bitcoin proponent and has expressed optimism about the cryptocurrency in the long term multiple times. However, his exile continues as he has admitted to not filing tax returns…
After rebounding from the substantial support region around the 100-day moving average, the price initiated a retracement towards the resistance range of $43,578-$45,606. However, the momentum has weakened, suggesting the potential for a new bearish leg. Technical Analysis By Shayan The Daily Chart A thorough examination of the daily chart reveals that following Bitcoin’s recent
After posting heavy gains last month, bears took over the price of Lido Finance (LDO), posting double-digit losses. Ahead of Ethereum’s biggest upgrade ever, the leading staker’s native token was in worrying territory. At the time of writing, LDO was trading at $1.78 after declining by nearly 10% in the last 24 hours. It lost…
ETH/USD – Ethereum Bulls Break $900 and Set Fresh 34-Month High Key Support Levels: $875, $850, $800. Key Resistance Levels: $933, $950, $1000. Etheruem saw an impressive 19% price surge today, causing the coin to break above $800 and $900 in a short 7-hour period. It was struggling to break resistance at $750 (bearish .886…
[PRESS RELEASE – Please Read Disclaimer] Vultor, the crypto payments company, announced on August 23, 2023, the launch of the presale for its native token, VLT. Through the presale, the crypto project aims to increase the popularity of its main product. Furthermore, Vultor’s goal is to allow presale participants and not only to be part…
An Atlanta film producer has recently pleaded guilty to wire fraud and money laundering charges for promoting fraudulent crypto investment schemes that defrauded investors of over $2.5 million. Man Pleads Guilty to ICO Fraud In an official statement, the U.S. Department of Justice (DOJ) revealed that the 48-year-old convict, Ryan Felton, promoted an initial coin…