1302 ET - Speculation continues over whether or not weakness seen in bitcoin in June will extend into July. The token has stayed mostly rangebound in recent trading, but some think the leading cryptocurrency showed several signs last month that its bear market had overextended itself. "The picture is beginning to look less like a market falling apart and more like one approaching a turning point," say analysts with Cex.io in a note. The firm says that in June, more bitcoin in circulation was trading at a net loss versus a net gain--which is unusual. "In previous cycles, Bitcoin hit its cycle bottom within three months of this crossover," Cex.io says. Bitcoin is flat at $63,800 today. (kirk.maltais@wsj.com)
(END) Dow Jones Newswires
July 07, 2026 13:03 ET (17:03 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
Comments