LAB and BEAT posted the steepest losses in the last 24 hours, both falling by double digit percentages.
Bitcoin briefly dropped below $59,000 again yesterday following renewed tensions in the Middle East but has since recovered and is trading near $60,000 at the time of writing.
Most large cap altcoins followed Bitcoin’s movement, though price action remains relatively weak over the past day. Ethereum continues to trade near $1,600, while Solana gained more than 2% and is now changing hands around $73.
Bitcoin Climbs Back to $60K
Bitcoin started the previous trading week on a strong note, surging to $65,500 after a quiet weekend. However, the rally proved short lived and turned out to be a temporary rebound before further losses.
The first decline came quickly, pushing BTC below $62,400. That was only the beginning as bearish momentum continued to build.
The following selloffs were much more aggressive. Bitcoin initially dropped to $59,000, recovered toward $62,000, but failed to maintain momentum and was rejected almost immediately.
The sharpest decline came on Thursday when Bitcoin fell to $58,000, marking its lowest level since before the 2024 US presidential election.
Buyers eventually slowed the selloff, helping Bitcoin recover to $60,000 over the weekend. BTC even climbed to $60,800 before renewed military tensions between the United States and Iran triggered another selloff, sending the asset down to $58,800 on Sunday evening.
Since then, Bitcoin has rebounded to the $60,000 level after both sides signaled a temporary easing of tensions.
Bitcoin’s market capitalization remains under pressure at around $1.2 trillion, while its dominance over the altcoin market stands just below 56%.
PI Drops Despite Pi2Day Celebration
The Pi Network community marked Pi2Day on June 28, one of its most anticipated annual events. Although the project introduced several major updates and new features, the market response was negative.
PI fell by roughly 5%, slipping below $0.12 earlier today before recovering slightly to trade near that level at press time.
Among major altcoins, CC and Worldcoin also posted notable losses, each declining by more than 4%.
Even steeper losses were seen among smaller tokens. LAB plunged 19%, BEAT dropped 11%, and M fell 7.5%.
MemeCore has been hit especially hard, losing nearly 80% of its value over the past week alone.
On the positive side, BinanceLife surged 37%, making it one of the strongest performers of the day, while VELVET climbed 12%.
Most major altcoins remain largely unchanged compared to yesterday. Solana and Bitcoin Cash led gains among large caps, rising more than 2% to around $73 and $197 respectively.
The total cryptocurrency market capitalization has managed to hold above the $2.15 trillion level.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
