Bitcoin Approaches 2024 Lows as Crypto Market Sells Off

·1 views

Bitcoin and Ether declined sharply, moving closer to critical support levels amid broad market weakness. Options traders increased spending on downside protection, signaling heightened concern about further losses. Decentralized finance tokens were among the worst performers during the selloff. However, not all assets followed the bearish trend, with XLM and LIT posting gains against the market direction.

Read the full story at CoinDesk

This is an AI-generated summary. ShortSingh links to the original source for the complete article.

Discussion (0)

Bitcoin Stuck Near $59K-$60K With Risk of Drop Toward $40,000

Bitcoin has been trading in a narrow range between $59,000 and $60,000 throughout the week. The tight price band resembles a similar consolidation pattern observed earlier in 2024. However, analysts note a key difference: the current pattern is forming below a major support level in a declining market. A decisive breakdown from this range could potentially open the path toward the $40,000 price level.

0 comments Read more at CoinDesk

Crypto & Web3CoinDesk ·

New York Life Launches Tokenized High-Yield Bond Fund on Blockchain via Centrifuge

New York Life, the $807 billion asset manager, has made its debut in asset tokenization by launching an on-chain high-yield corporate bond fund. The firm partnered with Centrifuge, a blockchain-based real-world asset platform, to bring the product to market. The move marks a significant step beyond the tokenized Treasury funds that have dominated Wall Street's blockchain experiments so far. The development reflects growing institutional interest in expanding tokenization to a broader range of fixed-income assets.

0 comments Read more at CoinDesk

Crypto & Web3CoinDesk ·

Bitcoin $4.4 billion supply overhang emerges as institutional demand wilts

Your day-ahead look for June 30, 2026

0 comments Read more at CoinDesk

Crypto & Web3CoinDesk ·

Strategy shares down 41% in June, marking near-record monthly losing streak

Strategy (MSTR) has seen its share price fall approximately 41% during the month of June. The decline puts the company on track for its eleventh losing month out of the last twelve. The persistent drop is closely tied to continued weakness in bitcoin, in which Strategy holds significant exposure. The company, formerly known as MicroStrategy, has made bitcoin acquisition a core part of its corporate strategy. The latest losses underscore the volatility risks associated with its heavy cryptocurrency holdings.

0 comments Read more at CoinDesk