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  • Writer's pictureRealFacts Editorial Team

Cryptocurrency Retreat: Bitcoin and Altcoins Navigate Choppy Waters


cryptocurrency

Marco Jurina, CEO of Jumper, explained this week that when traders are dissatisfied with economic or market performance, they often sell at lower prices to minimize losses or exit riskier positions until uncertainties clear. In the volatile world of cryptocurrencies, Bitcoin and other major digital assets experienced a decline on Tuesday due to broader economic worries and seasonal trading patterns. Bitcoin’s value decreased by 3%, dropping below $65,000 for the first time since mid-May, hitting a low of $64,347.91 during the day. Ether, another significant cryptocurrency, also saw a 4% decline, trading around $3,401.37.


The downturn wasn’t limited to Bitcoin and Ether; other cryptocurrencies also fell: Ripple’s XRP dropped by 6%, Solana’s SOL token by 7%, and Dogecoin by 11%. Experts like Marco Jurina attribute this sell-off to traders’ reactions to lackluster economic indicators and global uncertainties. These concerns are exacerbated by reduced market liquidity typical during summer, contributing to cautious trading attitudes. Many traders are hedging risks or staying on the sidelines until clearer market signals emerge.


In the broader financial context, the Nasdaq Composite showed a slight decline of 0.1%, while the S&P 500 remained relatively stable despite disappointing U.S. retail sales figures for May. This economic environment, combined with specific dynamics in cryptocurrencies, reflects an investor sentiment marked by lower trading volumes and a reluctance to adopt bullish positions in Bitcoin, according to insights from CryptoQuant’s on-chain data.

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