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Bitcoin (BTC) Eyes $63K Again, Monero (XMR) Jumps by Double Digits (Market Watch)

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Bitcoin’s price dipped once again in the past 24 hours after the tension in the Middle East skyrocketed with new attacks, but it has managed to offset the losses and is back toward $63,000 now.

Most altcoins have followed suit, with ETH going past $1,650, BNB returning to $600, and SOL reclaiming the $65 level.

BTC Aims at $63K

The primary cryptocurrency’s price troubles intensified at the beginning of the month when it was rejected at $73,000. It quickly dumped below the psychological $70,000 level, and the situation worsened rapidly after that. $65,000 gave in in days, and the bears started to challenge the $60,000 support.

Unlike February, when this coveted line managed to hold the price declines, the bears were more persistent this time and managed to break through. The drop below $60,000 wasn’t as profound as many feared, as BTC dipped to $59,100 and bounced off. Nevertheless, this still became its lowest price in almost two years.

That all took place on Friday, but bitcoin managed to recover to $63,000 by Sunday. It even spiked to $64,000 on Monday morning but was quickly halted there as reports emerged that Iran had taken down a US helicopter. President Trump said his country has to retaliate, which resulted in another price dip for BTC to $61,000.

Nevertheless, the asset has remained above that level and now sits close to $63,000. Its market capitalization has climbed to $1.260 trillion on CG, while its dominance over the alts is well above 56%.

BTCUSD June 11. Source: TradingView
BTCUSD June 11. Source: TradingView

BEAT, XMR Pump

Most larger-cap alts have erased yesterday’s losses. Ethereum is above $1,650 once again, BNB has tapped $600, while XRP has defended the $1.10 support. SOL is up to $65, while XMR has stolen the show from this cohort of assets. The privacy token has soared by over 11% to $354 as of now.

Audiera (BEAT) remains the top performer from the mid-caps, soaring by 56% in the past 24 hours alone. The asset has skyrocketed by a mind-blowing 500% in the past week. In contrast, LAB has plunged again, as another 15% drop has driven it to well below $8.

The total crypto market cap has recovered more than $40 billion daily and is up to $2.230 trillion on CG.

Cryptocurrency Market Overview June 11. Source: QuantifyCrypto
Cryptocurrency Market Overview June 11. Source: QuantifyCrypto

 

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