Bitcoin fall under $62K as crypto market cap drop $150B
Bitcoin don drop sharply again, e drop under $62,000 early today after e try to bounce back fail. The selloff strong since early June: BTC dey above $73,000 on June 1, then e lose important support near $70k, drop under $66k, and reach just over $61k for the first time since the February crash. After about $1.6B liquidations across the market, BTC small bounce towards $64,000 but them reject am and now e dey trade under $63,000 (~-14% for the week). Bitcoin market cap around $1.26T and dominance don slip to about 55.6%.
Altcoins dey bleed too. Ethereum (ETH) fall to about $1,750 (14-month low). SOL drop under $70. XRP small rebound after e dip under $1.15. ADA slip under $0.19 for the first time in years. BNB dey under $600. Other big losers include ZEC, DOGE, LINK, AVAX and more. WLD na one rare bright spot, up roughly 11% during the downturn.
Total crypto market cap don erase another ~$140B in one day, now trading around ~$2.27T. Coins like NEAR, TON, and RENDER reportedly lead the losses, down as much as ~18% daily.
Bearish
Dis news dey bearish because e describe broad risk-off move wit both price breakdown and heavy forced selling. Bitcoin no fit sustain rebounds and again trigger selloff after e loss major support around $70k, end up close to $61K—pattern wey similar to previous downside legs like the February crash wey article mention. The reported about $1.6B total liquidations show say leveraged positions dey get flushed, and dat dey usually amplify volatility and delay sustainable trend reversals.
For short term, traders fit see continued downside pressure because: (1) BTC dominance dey slip (alts underperform), and (2) plenty large-cap alts dey hit multi-year or multi-month lows (ETH 14-month low, ADA under long-time levels). Dis combination dey typically hurt liquidity and increase chance of more stop-outs.
Longer term, the scale of liquidation-driven moves fit create tradable oversold conditions, but cos article no give clear stabilization signal make e more likely to remain downtrend environment instead of durable bottom immediately. Watch whether BTC fit reclaim key levels and whether liquidations go begin to cool; otherwise rallies dey vulnerable to repeat rejection.