Bitcoin Tests $62,000 for First Time in Two Weeks as US Tech Stocks Slide
Summary
- Bitcoin tested the $62,000 level for the first time in two weeks as US technology stocks weakened and the Fed maintained a hawkish stance.
- Major cryptocurrencies including Ether, XRP and Solana fell more than 5%, with the selloff widening as risk appetite 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%.
The selloff widened as AI-related stocks led a broader retreat in risk assets, curbing appetite for speculative trades.
Carlos Guzman, a research analyst at GSR Markets, said selling had emerged in AI-related stocks, with the crypto market also reacting to the risk-off mood.
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.
