Crypto

Crypto Market Analysis

Crypto Market Analysis | 26 June 2024

Crypto Market Analysis

Bitcoin continues to hold the $61k mark. It’s only the second-highest gainer day in June so far as the overall market structure remains perfectly in balance for both bulls and bears to make their respective cases. However, the Bitcoin chart needs significant sell pressure on the downside to break the 4-month low of $56.5k and is likely to test $70k again first.

In altcoins, memecoins continued to dominate the top movers of the day, with Coinbase L2’s leading memecoin, BRETT, and Ethereum’s PEPE topping the charts. Both these memecoins are inspired by artist Matt Furie’s comic series, ‘The Boy’s Club’.On the other hand, blockchain platform Solana (+1.83%) recently introduced “Blinks” and “Actions,” enabling users to trade their favorite memecoins directly from social apps like X.com. This new feature makes trading more accessible to the masses.

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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