Bitcoin Price Drops Below $26,000


On the night of Saturday, June 10, the quotes of the first cryptocurrency failed the level of $26,000.

At the time of writing, Bitcoin is trading at $25,500. Over the past day, the asset has fallen by 3.6%, according to CoinGecko.

Hourly BTC/USDT chart on Binance exchange. Data: Trading View.

Following bitcoin, all assets from the top 10 by capitalization turned out to be in the “red zone”. Cardano (-24.8%) and Tron (-15.3%) lost more than others in a day, while Solana (-27%) dropped to 12th place in the rating.

Data: CoinGecko.

The total capitalization of the cryptocurrency market has fallen below $1.1 trillion. Bitcoin dominance index – 49.2%, Ethereum – 20.8%.

Earlier this week SEC sued the leading cryptocurrency exchanges Binance and Coinbase. The head of the regulator, Gary Gensler, questioned the need for digital assets and called the crypto industry full of fraud.

Recall that the founder of Cardano, Charles Hoskinson, said that the SEC case against Binance is motivated by the department’s “political and philosophical disagreement” with the very existence of cryptocurrencies.

Investor and star of the TV show Shark Tank Kevin O’Leary believes that “cryptocowboys” will soon be a thing of the past, as the Commission has thrown a “legal lasso” on the two largest bitcoin exchanges.

Former Chairman CFTC Timothy Massad stated that the future of digital assets depends on the outcome of the SEC litigation against Binance and Coinbase.

Found a mistake in the text? Select it and press CTRL+ENTER

ForkLog Newsletters: Keep your finger on the pulse of the bitcoin industry!


Leave a Reply