BEAT has plunged by more than 43 percent in a single day, prompting comparisons with the recent collapse of SIREN as the broader crypto market weakens alongside Bitcoin’s decline below $65,000.
Bitcoin’s recent recovery attempt was cut short after it failed to hold above $67,000 earlier in the week. The asset is now trading below $65,000, showing signs of fading momentum.
Most major altcoins have also moved lower. Large cap tokens including BNB have slipped toward $600, XRP has fallen to around $1.20, and Cardano has dropped more than 6 percent.
Bitcoin Loses Momentum After Brief Rally
Bitcoin initially rebounded strongly after an early June selloff that pushed it below $60,000 for the first time since November 2024. Buyers quickly stepped in near the $59,000 level, preventing further downside and driving a recovery toward $64,000 by the start of the following week.
The asset then traded in a narrow range between $61,000 and $64,000 for several days before geopolitical developments involving tensions between the United States and Iran influenced market sentiment.
After reports of a potential agreement between Washington and Tehran, markets reacted positively, and Bitcoin surged to $66,000 on Monday before briefly touching $67,000.
However, the rally stalled at that level, and Bitcoin has since reversed gains, falling back below $65,000.
Its market capitalization has declined to roughly $1.3 trillion, while market dominance has slipped to around 56.2 percent as altcoins lose ground.
Altcoin Market Turns Lower With Sharp Declines
Ethereum was rejected near $1,850 and is now trading around $1,770 following another daily decline. Other major cryptocurrencies are also under pressure, with BNB nearing a breakdown below $600 and XRP continuing its slide to $1.20.
Solana has dropped below $73, while Dogecoin is down nearly 3 percent. Zcash has fallen close to 4 percent.
Further losses include ADA down 6 percent, Bitcoin Cash down 5 percent, and similar declines in TAO and CRO. NEAR Protocol has seen one of the steepest drops, falling more than 8 percent to below $2.30.
BEAT has become one of the most volatile assets in the market, collapsing more than 40 percent in a single day. The sharp decline has drawn comparisons to SIREN’s recent crash, where the token nearly lost its entire value following a large whale exit.
Overall, the total crypto market capitalization has fallen by roughly $40 billion in a single day and now stands just above $2.32 trillion.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
