Leading crypto Bitcoin entered a bearish trend and is struggling to maintain $64,000. According to a popular analyst, the post-halving correction in Bitcoin will continue for 15 days. In the meantime, BTC price is likely to bounce back from the strong $60,000 support. Meanwhile, tokens such as Wormhole and Bonk stand out among today’s highest-earning tokens. However, tokens such as EOS and RON are on a downward trajectory.
Price outlook for leading cryptocurrencies
Today, Bitcoin (BTC) price witnessed a sideways movement as it maintained the $64,000 level. However, Ethereum (ETH) price is close to declining below the $3,100 mark. Moreover, other top altcoins such as XRP and Cardano (ADA) gained slightly while Solana (SOL) recorded a significant loss.
Bitcoin price fell 0.22% to $64,082.78 at the time of writing. The price of the leading altcoin Ethereum fell by 0.59% to $ 3,132.72. Solana is poised to decline below the $140 level today. XRP is trading near $0.53. Cardano’s token ADA is changing hands at $0.4763.
Market winners and losers
Today’s top earners:
- Whormhole (W): The token price increased by 14.47% and traded at $0.6246.
- Bonk (BONK): Bonk increased by 10.57% to $0.00002592.
- Near Protocol (NEAR): NEAR price increased by 8.98% and reached $7.46.
- Theta Fuel (TFUEL): TFUEL price increased by 6.87% to $0.1235.
Biggest losers today:
- EOS (EOS): EOS price decreased by 9.29% to $0.815.
- Ronin (RON): RON price fell 7.26% to $2.97.
- Pendle (PENDLE): Pendle price decreased by 5.23% to $5.77.
- Immutable (IMX): Immutable was down 4.88% at $2.09.
Bitcoin price in ‘danger zone’ after halving
cryptokoin.comAs you follow from , Bitcoin came under selling pressure, falling below $65,000 earlier this week, as US GDP growth and business activity slowed. Popular crypto analyst Rekt Capital has expressed concerns about a potential “Danger Zone” following Bitcoin’s recent halving. The analyst drew parallels with historical trends in 2016. Rekt Capital highlighted a significant downward wick of approximately 11% that occurred approximately 21 days after the halving, before a subsequent reversal to the upside.
The analyst warns that if history repeats itself, this downward volatility could emerge in the next 15 days in the so-called “Danger Zone.” This period will end in 15 days. However, there remains a possibility of downside volatility for BTC at the low of the $60,600 range during this time, based on historical analysis.
Bitcoin’s struggle continues as it failed to identify the $65,600 resistance level as support and was rejected from this level. For several weeks, BTC has moved towards the $60,600 liquidity pool marked in green. On the other hand, Bitcoin critic Peter Schiff claims that BTC cannot hold the $60,000 support. Therefore, it suggests that the Bitcoin price is heading lower.
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