Bitcoin Continues to Fall: Those 6 Altcoins Rise!

The cryptocurrency market started the day with complex movements today. While Bitcoin (BTC) was trading around $61,000, giving bear market signals, the majority of altcoins rose significantly. In addition, the artificial intelligence and chest coin division made valuable gains. Names such as Dogwifhat (WIF) and Fetch.ai (FET) were among the top earners of the day. Here are the details…

There is a decline in Bitcoin and altcoins

Bitcoin price fell below $60,000 the other day. It subsequently recovered to the current level of $61,000. However, the global cryptocurrency market value fell by 1.38% to $2.26 trillion at the time of writing. Additionally, the total cryptocurrency market volume recorded yesterday jumped by 122.06% to $97.64 billion. As of today, the following prices attracted attention:

• Bitcoin Price: BTC price is trading at $61,489.62, down 2.17% at the time of writing. The lowest and highest levels in the last 24 hours were recorded as $ 58,601.70 and $ 62,900.83, respectively. According to Farside data, this decline occurred after an outflow of $174.5 million from Bitcoin ETFs on June 24. Bitcoin’s dominance decreased by 0.68% yesterday to 53.44%. According to CoinMarketCap data, the market value of the flagship cryptocurrency decreased to 1.21 trillion dollars.
• Ethereum Price: Ethereum price fell 0.83% to $3,374.88 at press time. The lowest and highest levels in the last 24 hours were recorded as $ 3,244.24 and $ 3,410.03, respectively. The market value of Ethereum decreased to 405.09 billion dollars.

Altcoins that rise and fall the most

Meanwhile, Solana (SOL) price experienced a significant jump, reaching $135.85 with an increase of 7.59%. The XRP price increased by 0.37% and was at $0.4778. Dogecoin (DOGE) price increased by 1.25% to $0.123, and Shiba Inu (SHIB) price increased by 0.62% to $0.00001744. WIF, PEPE and BONK were among the top earners of the day.

There is an outflow in ETFs

As the Bitcoin price continues to decline, spot Bitcoin ETFs in the US have been recording significant outflows for seven consecutive days. On Monday, June 24, total outflows across all nine spot Bitcoin ETFs were $174.5 billion, with no inflows recorded in any ETFs. In the last ten days, total outflows from spot Bitcoin ETFs have exceeded $1 billion.

Bitcoin ETFs allow investors to indirectly invest in cryptocurrency. However, the recent declines seem to have damaged investor confidence. Grayscale Bitcoin ETF (GBTC) was the fund that recorded the highest outflow. Information shows that there was an outflow of $90.4 million from GBTC on Monday, bringing the total outflows since its establishment to $18.5 billion. Fidelity’s FBTC fund ranked second with an outflow of $35 million on Monday.