Bitcoin Tests $62,000 for First Time in Two Weeks as US Tech Stocks Weaken
Summary
- Bitcoin tested the $62,000 level for the first time in two weeks as US tech stocks weakened and the Fed maintained a hawkish stance.
- Major crypto assets including Ether, XRP and Solana fell more than 5%, and selling pressure intensified as appetite for risk assets weakened.
- Gerry O'Shea, head of global market insights at Hashdex, said easing US-Iran tensions and passage of the Clarity Act could become a turning point for the crypto market.
Forecast Trend Report by Period
Bitcoin tested the $62,000 level for the first time in two weeks as weakness in US technology stocks and the Federal Reserve’s hawkish stance weighed on sentiment.
Decrypt reported on June 23 that Bitcoin fell as low as $62,000 during the session. Major cryptocurrencies including Ether, XRP and Solana also dropped more than 5%.
Selling spread across risk assets, led by AI-related stocks, curbing appetite for speculative trades.
Carlos Guzman, a research analyst at GSR Markets, said the selloff in AI-related shares was spilling over into crypto as investors turned more risk-averse.
Gerry O'Shea, head of global market insights at Hashdex, said easing tensions between the US and Iran and passage of the Clarity Act could mark a turning point for the crypto market.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.