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Bitcoin on pace for worst month since June 2022 as one strategist says token could drop to $40,000
Bitcoin slid below $60,000 on Tuesday, putting the token on track for its worst monthly performance since June 2022. The world's largest cryptocurrency has had a dismal first half of the year, sheding 33% year-to-date compared with the broader S&P 500's gain of 8%. It was set to end June down more than 19%. Bitcoin has been in a sustained downward trend after tumbling from its all-time high in early October, with selling pressure and forced liquidations echoing patterns seen in prior cycle drawdowns. While bitcoin is down roughly 52% from its record peak, analysts have noted the downturn has unfolded without the ... (full story)
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Bitcoin has remained under pressure since June 24, when it fell below $60,000 as investors retreated from risk assets. Selling intensified on June 25, sending Bitcoin below $59,000 for the first time since September 2024 and dragging the broader cryptocurrency market lower. The total crypto market capitalization has since fallen to about $2.01 trillion, ...
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- Jun 30, 10:58am | 6 hr ago Posted byFundamental Analysis59
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