BTC continues to struggle as it forms the third red candle in a row, with the price briefly trading below $61k. With the $60k price mark acting as a psychological support level, markets are more likely to be bullish than bearish. The sectors in focus are memecoins and AI-focused coins, which have seen the maximum growth in this cycle so far.
In other news, there is some positive development around the now-defunct cryptocurrency exchange FTX. According to the latest draft recovery plan, about 98% of the creditors are expected to receive 118% of what they had lost.
