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Bitcoin Slips Down to $64K, Ethereum Pulls Back From Six-Week Peak: Market Watch

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Bitcoin’s price rose to a multi-week high of its own yesterday when it briefly exceeded $65,500 on the heels of the lower-than-expected US CPI data. However, it was stopped there and now sits a grand and a half lower.

ETH rode the wave even harder, jumping to roughly $1,950 for the first time since early June before it was halted and pushed south to under $1,900.

BTC Back to $64K

The primary cryptocurrency had a relatively quiet and positive weekend in which it stood mostly at around $64,000. This came after a volatile business week in which it plunged a couple of times from that high to under $62,000 after Strategy announced its latest BTC sale and the tension in the Middle East escalated once again with new attacks.

On Monday, though, bitcoin slipped once again as the markets priced in the new strikes between the US and Iran initiated during the weekend. The cryptocurrency dipped below $62,000 by Tuesday morning but then rocketed by several grand in a day or so after the US CPI data for June was a lot lower than expected.

Bitcoin first reclaimed the $64,000 level before it did the same to $65,000 and peaked at $65,600. After tapping this three-week high, though, it retreated by $1,500 and now sits at around $64,000 again.

Its market cap is down to $1.285 trillion on CG, while its dominance over the alts remains at the same level at 56.7%.

BTCUSD July 16. Source: TradingView
BTCUSD July 16. Source: TradingView

ETH Pulls Back

Ethereum stole the show from the larger-cap alts today, jumping to almost $1,950 for the first time in six weeks. However, it was stopped there and now sits below $1,900. BNB is close to $580 after a minor increase, while XRP is fighting for $1.10 after a minor daily decline.

SOL, TRX, HYPE, RAIN, ZEC, CC, LTC, and ADA are all in the red today, while BCH and DEXE have dumped the most from the larger caps. ONDO, in contrast, has rocketed by 17% to $0.37.

The total crypto market cap has declined by $40 billion in a day from its peak and is down to $2.270 trillion on CG.

Cryptocurrency Market Overview July 16. Source: QuantifyCrypto
Cryptocurrency Market Overview July 16. Source: QuantifyCrypto

 

Inlägget Bitcoin Slips Down to $64K, Ethereum Pulls Back From Six-Week Peak: Market Watch publicerades först på CryptoPotato.

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