The post Bitcoin Dips Below $64K, Ripple Gets More Troubles, Meme Coins Suffer: This Week’s Crypto Recap appeared on BitcoinEthereumNews.com.

It’s been a tough week, and there are no two ways around it. The total cryptocurrency market capitalization declined by more than $70 billion as Bitcoin’s price dipped below $64K. It’s been somewhat of a rollercoaster ride throughout the past seven days as the BTC price attempted to recover on a few occasions but failed to regain its position. Last Friday, the cryptocurrency tumbled toward $65K but the bulls were quick to recover during the weekend. As soon as the new week started, though, BTC bears took control once again and negated all attempts of a swift recovery. Now, Bitcoin is found trading at $64K, although it’s looking rather shaky. The liquidations are also spiraling up, meaning that a lot of futures traders are seeing their positions wiped off. But the downturn is definitely not isolated to Bitcoin alone. The altcoin market is also suffering, especially when it comes to meme coins, but more on that later.  Large-cap cryptocurrencies like BNB took a blow. It’s down 4% on the week, while Solana (SOL) decreased by a more considerable 10%. TON is down 10.4%, while ADA dropped by 9.4%. Interestingly enough, Ripple’s XRP is up 2.2% during the past seven days, defying the negative market trend amongst the rest of the large-cap altcoins. This comes despite additional legal challenges that the company is facing in California (other than the major case against the US Securities and Exchange Commission). That said, meme coins are having really tough times. The entire category, as a whole, is down a whopping 14%. DOGE dropped by 13%, SHIBA – by 17%, WIF – by 23%, FLOKI – by 19%, and so forth. It’s interesting to see if the meme coin season that started at the beginning of the year is already over, but at the time…

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Filed under: News - @ June 22, 2024 2:20 am