Bitcoin Drops Below $62,000 As Ethereum, XRP, Dogecoin Plunge 2.5% Ahead Of Key U.S. CPI Report

Benzinga02:12

Bitcoin fell below $62,000 amid a macro-driven risk-off move that pushed market sentiment deeper into extreme fear on Tuesday. Notable Statistics: Notable Developments: Trader Notes: Trader Dom said ...

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FTX collapse, marking the most intense selling pressure in nearly four years. The past week also saw one of the largest Bitcoin redistribution events in years as coins moved from sellers to new buyers.\nAltcoin Sherpa says Bitcoin remains at a critical support zone, with a relief bounce still possible. However, extended sideways price action without a recovery could increase the risk of another move lower, prompting caution on short-term trades.\nCastillo Trading expects crypto markets to remain choppy and range-bound through the summer, with limited opportunities before the U.S. midterms. The analyst sees Q4 as the more likely period for a sustained trend, while Bitcoin may continue consolidating rather than breaking out in the near term.\nImage: Shutterstock\nTo add Benzinga News as your preferred source on Google, click here.","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.43.1","shortVersion":"4.43.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2642943004","isCrawlerRequest":true}