Bitcoin may fall to $ 60,000

Yesterday, June 23, the value of the flagship cryptocurrency BTC $65,723.80 Bitcoin -0.13% Market capitalization $1.3 trillion VOL. 24 hours $0.62 billion dropped below $ 63,000, increasing its monthly losses to almost 7%. At the beginning of the month, bitcoin reached $ 71,000, but since then, it has been on a downward trend.

Ethereum ETH $2,680.19 Bridged Ether (StarkGate) -0.73% Market capitalization $0.2 billion VOL. 24 hours $0.4 billion also continues to lose value as traders wait for spot ETFs to be listed on stock exchanges. The market is being cautious, as the volume of open positions on Bitcoin futures decreased by 0.76% over the day. Although most of the new positions were opened on the rise in the cryptocurrency’s value, the overall market direction remained bearish.

The Fear and Greed Index showed a «neutral» level ahead of the last week of June, a sharp departure from the «extreme greed» seen at the beginning of the month. Among the cryptocurrencies that have shown growth over the past 24 hours are Toncoin (2.76%), Fantom (1.10%), and Fetch. ai (0.33%).

As of June 24, the global market capitalization of cryptocurrencies is $ 2.3 trillion, which is 2.02% less than a day ago. Futures on major US stock indices were mixed: Dow Jones futures were down 0.05%, while S&P 500 futures were up 0.05% and Nasdaq 100 futures were up 0.16%.

MartyParty, a popular cryptocurrency trader, noted that the Bitcoin Relative Strength Index is approaching an oversold condition, which will facilitate a possible rebound to $ 65,000 and then stabilize before the US elections. At the same time, another well-known analyst under the pseudonym HORSE expressed concerns about a possible drop in Bitcoin below $ 60,000, predicting further consolidation and market weakness.

According to the CoinMarketCap analytical tracker, at the time of writing, bitcoin is trading at $ 62,809. The total number of coins circulating on the market is $ 1.2 trillion, and traders have made daily trading deals with the coin worth $ 14.9 billion. BTC’s market share is 54.1%.