Bitcoin, Ethereum, Dogecoin Fall On Investor Worries: Analyst Warns Of King Crypto's Dip Below $60K
Portfolio Pulse from Aniket Verma
Leading cryptocurrencies, including Bitcoin, Ethereum, and Dogecoin, faced selling pressure over the weekend. Bitcoin fell below $63,000, expanding its monthly losses to nearly 7%. Ethereum also declined as traders awaited spot ETFs. The market showed a bias towards price declines, with the Cryptocurrency Fear & Greed Index at 'Neutral'. Stock futures traded flat, with NVIDIA Corp. experiencing a 3.5% drop. Analysts are divided on Bitcoin's short-term direction, with some predicting a bounce and others forecasting a dip below $60,000.
June 24, 2024 | 1:59 am
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NEGATIVE IMPACT
Bitcoin fell below $63,000, expanding its monthly losses to nearly 7%. Analysts are divided on its short-term direction, with some predicting a bounce to $65,000 and others forecasting a dip below $60,000.
Bitcoin's significant price drop and the divided analyst opinions create uncertainty, likely leading to short-term downward pressure.
CONFIDENCE 90
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Dogecoin fell by 1.11%, reflecting the broader selling pressure in the cryptocurrency market.
Dogecoin's decline is part of the broader market trend, indicating short-term downward pressure.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
NEGATIVE IMPACT
Ethereum continued to decline as traders awaited spot ETFs. The overall market bias is towards price declines.
Ethereum's decline amid market uncertainty and anticipation of spot ETFs suggests short-term downward pressure.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 80
NEGATIVE IMPACT
NVIDIA Corp. experienced a 3.5% drop, contributing to the pullback in major stock indices.
NVIDIA's significant drop impacts major stock indices, likely leading to short-term downward pressure on its stock price.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 70