Crypto

Crypto Market Analysis

Crypto Market Analysis | 19 June 2024  

Crypto Market Analysis

After a significant decline in most altcoins following Bitcoin’s dip of over 3% to $64,000, support was found as Bitcoin rebounded to $65,500. Although Bitcoin appears slightly bearish on shorter time frames, it is performing well on weekly charts, indicating that the bull market is still ongoing. Bitcoin’s dominance also remains steady at around 55%.

The reversal was likely triggered by news from Ethereum developer Consensys that the US Securities and Exchange Commission is ending its investigation into whether ETH is a security and if sales of ETH constitute security transactions.

Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered investment/financial advice from CoinSwitch. Any action taken upon the information shall be at the user’s risk.

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