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Bitcoin must defend $62,500 as altcoins lose $8.8 billion in a week
Bitcoin’s defense of $62,500 will set the tone for a fragile altcoin market, with ETH, HYPE and leveraged traders exposed to another unwind.
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Good to see you this Saturday.
Bitcoin’s hold on $62,500 will set the tone for a fragile altcoin market, leaving ETH, HYPE and leveraged traders exposed to another unwind. Crypto’s next phase is being driven less by hype than by who can still win trust, funding and access under tighter scrutiny, as a Bitcoin treasury vehicle struggled to place nearly half its shares despite a double-digit yield.
That caution is colliding with expansion elsewhere. Citadel Securities is backing rival exchanges as tokenized-market competition for Wall Street intensifies, while Circle’s new federal trust bank status under the GENIUS Act is accelerating stablecoin distribution even as lenders warn deposits could be pulled from traditional credit.
The global crypto market cap is $2.19 trillion, with a 24-hour volume of $42.09 billion. The price of Bitcoin is $64,103.14, and BTC market dominance is 58.6%. The price of Ethereum is $1,844.22, and ETH market dominance is 10.1%. The best-performing sector is Travel, which gained 3%. The Crypto Fear & Greed Index is currently Extreme Fear (25).
📰 Top News
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Bitcoin must defend $62,500 as altcoins lose $8.8 billion in a week
Bitcoin’s defense of $62,500 will set the tone for a fragile altcoin market, with ETH, HYPE and leveraged traders exposed to another unwind.
Bitcoin treasury company offers 10% income and still can’t sell nearly half its shares
BTC PREF is expected to begin trading July 20, with any discount to SEK 120 lifting the indicated cash yield above 10%.
Citadel Securities backs two rival crypto exchanges with $600 million as both chase the same Wall Street prize
Crypto.com and Kraken are pursuing the same tokenized-market expansion, while only one has disclosed Citadel’s operational role.
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