PI and APX Crater by Double Digits, BTC Price Dipped Below $63K: Market Watch
After a relatively quiet weekend, bitcoin’s price dipped by nearly two grand on Monday morning as the market priced in the new attacks in the Middle East.
Most larger-cap alts have followed suit with similar daily losses, with XRP dropping below the crucial $1.10 support, and ETH failing at $1,800.
BTC Slipped Below $63K
Bitcoin reacted well to the July 1 dip below $58,000 and quickly reclaimed the $60,000 line. It kept climbing in the following days and jumped to $64,000 on July 6. However, Strategy’s latest and biggest sale resulted in a major leg down, as BTC slumped to $61,200 in hours.
Unlike the previous such occasion, though, the cryptocurrency rebounded swiftly after the initial FUD and jumped to $64,400 on Tuesday. Another rejection followed after the US and Iran broke their ceasefire and launched new rockets against each other.
This time, BTC was able to halt the free-fall at $61,600 and went on a minor rally at the end of the week. The culmination came on Saturday morning with a surge to $64,600, which became a new multi-week peak. BTC stood at around $64,000 for most of the weekend, but dipped earlier today to $62,400 as the consequences of the latest set of attacks between the US and Iran were felt across all markets.
It has rebounded to just over $63,000 as of now, but its market cap has dropped to $1.265 trillion on CG. Its dominance over the alts has increased slightly to 56.7%.
BTCUSD July 13. Source: TradingView
PI, APX Dump Hard
Pi Network’s native token doesn’t seem to be able to catch a break these days, marking consecutive all-time lows. The latest came hours ago with a nosedive to $0.086, solidifying its major correction as the asset is down by over 97% since its ATH marked last year.
APX is the other big loser today, dropping by over 25%. In contrast, BEAT has gained 20% while DEXE has doubled down on its major rally as of late.
ETH failed at $1,800, BNB is back to $570, while XRP dipped to a multi-day low at $1.07 before it rebounded slightly. HYPE, RAIN, DOGE, ZEC, and XLM are also slightly in the red, while SOL and XMR are with insignificant gains.
The total crypto market cap has shed over $20 billion in the past 24 hours and is now below $2.240 trillion on CG.
Cryptocurrency Market Overview July 13. Source: QuantifyCrypto
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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