Bitcoin Lost Momentum With ETF Outflows: Those 9 Altcoins Are Rising!

The cryptocurrency market draws a complex picture again today. While Bitcoin (BTC) and many valuable altcoins remained inactive, names such as Solana (SOL) and Pepe Coin (PEPE) gained value. Artificial intelligence-focused coins Render (RNDR), Injective (INJ) and NEAR Protocol (NEAR) were also among the rising names. The overall cryptocurrency market value decreased by 0.49 percent to $2.32 trillion from $2.34 trillion recorded yesterday. The last 24-hour period volume decreased by 3.89 percent to 66.21 billion dollars.

The latest situation in Bitcoin price and ETF outflows attracted attention

According to CoinMarketCap information, the Bitcoin price has lost 0.66 percent since yesterday and is currently trading at $64,275.17. In the last 24 hours, the lowest was $63,378.89 and the highest was $64,705.90. Information provided by Farside Investors reveals that Bitcoin ETFs recorded outflows of $105.9 million on June 21. This situation may increase Bitcoin’s volatility in the coming period. Bitcoin’s dominance is at 54.05 percent, with a decrease of 0.17 percent.

Another noteworthy detail is that the weekly outflows took place over 4 trading days and that the markets were closed due to the Juneteenth holiday on June 19. The lowest daily outflow was recorded as $105.9 million on Friday, June 21. Significant withdrawals of funds from Bitcoin ETFs are causing concern among market analysts and investors.

This, along with weakness in Bitcoin’s trading volume and price, makes its short-term outlook uncertain. Changes in investor sentiment could lead to further declines in prices. Well-known crypto analysts such as Rekt Capital predict that Bitcoin may fall further in the coming days. Analysts argue that Bitcoin may experience an additional decline in June, but a recovery and rally will follow this decline.

There is optimism in other altcoins

Ethereum price has been quite volatile in the last 24 hours. ETH, which lost 0.03 percent in value at the time of writing, is currently trading at $3,503.83. In the last 24 hours of activity, the lowest reached 3,447.94 dollars and the highest reached 3,543.03 dollars. Despite the recent transfers of big whales to the stock markets, ETH remains above $ 3,500 and remains resistant.

SOL price is on the rise, contrary to the general market trend. SOL, which gained 1.92 percent in value, is currently trading at $134.99. SOL, which has entered an optimistic atmosphere due to the launch of QSOL ETP in Canada, differs from other coins. In addition, after the Ripple case was brought before the magistrate, the XRP price remained horizontal. XRP is currently trading at $0.4872 with a loss of 0.31 percent. In the last 24 hours of activity, the lowest reached 0.48 dollars and the highest reached 0.4949 dollars.

DOGE, SHIB rising

Dogecoin (DOGE) price gained 0.26 percent at the time of writing, rising to $0.1242. Shiba Inu (SHIB) price decreased by 0.02 percent to $0.00001798. However, on the hourly chart, there is a significant upward trend in SHIB. On a different note, Pepe Coin was among the most profitable coins of the day. The other coins that rose the most are as follows:

• Arweave (AR) price increased by 8.75 percent and reached $27.86.
• Pendle (PENDLE) price gained 4.26 percent and rose to $6.09.
• Render (RNDR) price increased by 3.03 percent to $7.65.
• Injective (INJ) and NEAR prices also gained approximately 3 percent.