Bitcoin’s price has remained relatively stable at around $60,000 over the weekend despite the new attacks in the Middle East and the broken ceasefire.
Most altcoins have marked minor losses on a 24-hour scale, while ZEC has dropped the most from the larger caps. AAVE has also slipped below $90 after a massive correction today.
BTC Stagnant Around $60K
The primary cryptocurrency has a strong start to the business week by surging to $65,500 after it had recovered the $64,000 support over the weekend. However, that was short-lived, and the next several days were extremely painful. At first, the bears drove it south to under $62,400, before the next two leg downs brought multi-year lows.
The cryptocurrency plummeted on Wednesday to $59,000 as the FUD around Strategy kept increasing. After a dead-cat bounce to $62,000 on Thursday, BTC experienced another massive decline. This time, it plunged to $58,000, its lowest price since late 2024.
The bulls were finally able to reemerge at this point and didn’t allow another breakdown. Instead, BTC rebounded by a couple of grand and has remained at around $60,000 for most of the past 36 hours.
This calmness now is rather surprising, given what happened in the Middle East. The US and Iran started exchanging blows and blaming each other for breaking the ceasefire.
Bitcoin’s market capitalization stands above $1.2 trillion on CG, while its dominance over the alts has neared 56% once again.
BTCUSD June 28. Source: TradingView
ZEC, M Drop
Although the chart below will show that most altcoins are in the red today, their declines are rather negligible compared to what transpired during the week. Ethereum continues to stand inches below $1,600, XRP is at $1.05, SOL is above $70, and HYPE is at $63. BNB has dropped slightly more, while DOGE is down by over 2.3%.
ZEC has dumped the most from the larger-cap alts today, struggling at $385. AAVE has lost much of the traction from yesterday as it’s back below $90 now. M continues to dig new lows, as another 13% decline has pushed it to $0.68. In contrast, VELVET has risen by 30% and has entered the top 100 alts by market cap. PUMP follows suit with a 15% surge.
The total crypto market cap has lost around $20 billion daily and is below $2.160 trillion on CG.
Cryptocurrency Market Overview June 28. Source: QuantifyCrypto
