Bitcoin, Ethereum, Dogecoin Drop Further: 'Chop For Rest Of The Summer…Beggars Can't Be Choosers,' Says Trader
Cryptocurrency markets are trading in the red, with Bitcoin touching the sensitive $65,000 level and mixed opinions about future price trajectory. CryptocurrencyPriceGains +/-Bitcoin BTC/USD$65,615.96 -1.7%Ethereum ETH/USD$3,411.62-2.4%Solana SOL/USD$142.05-4%Dogecoin DOGE/USD$0.1339-5.7%Shiba Inu SHIB/USD$0.00002002-6.4%Notable Statistics: Coinglass liquidations data shows Bitcoin's short liquidations at the lowest since June 9. In the past 24 hours, 79,749 traders were liquidated for $207.41 million. IntoTheBlock data shows a 9% drop in daily active addresses and a 15.8% fall in large transactions volume. Lookonchain data notes Bitfinex Bitcoin whales reduced their long positions. Notable Developments: Arthur Hayes, Raoul Pal Predict Dogecoin ETF: ‘If People Wait In Line For Luxury Brands, They Will Trade Meme Coins Online’ Coinbase CEO Brian Armstrong Says ‘Both Parties’ Need To Address ‘Untenable’ Regulatory Situation EXCLUSIVE: Biden Administration ‘Let The SEC Go Unchecked,’ Tether Co-Founder Says How Donald Trump Went From Selling NFTs To Declaring Himself The ‘Crypto President’ Top Losers: CryptocurrencyPriceGains +/–Stacks STX/USD$1.89-11.1%Pepe PEPE/USD$0.00001086-9.3%Ronin RON/USD$2.52-9.3%Trader Notes: ElonTrades drew parallels between Bitcoin's current scenario to late 2020. "It retraced 15%, pumped, then retraced another 10% before liftoff." He adds that this cycle could be a "slightly less explosive and more drawn-out cycle."Crypto analyst Wolf sees Bitcoin eyeing the $62,000 mark. "Market sentiment is expected to turn extremely bearish. They want your cheap coins."Trader Mercury noted that Bitcoin is in a "chop for the rest of the Summer." we're now in a situation where "chop for the rest of the Summer" is a best-case scenario for $BTCwhich kinda sucks, but beggars can't be choosers.it's also pretty normal if we're comparing to what previous Summers have done:as it stands, we've locked in a Lower High on the… pic.twitter.com/pb0ReHCorg— Mercury (@TraderMercury) June 14, 2024CryptoCon says "$61,603 is the number to watch," based on the most reliable healthy support, the 20-week EMA. Sideways #Bitcoin price action and consolidation continues….The number to watch: $61,603 according to the most reliable healthy support, the 20-week EMA.Nothing has shown we should expect a breakdown of the moving average so far with the perfect retest in April.It's just… pic.twitter.com/hh1hrJGLzQ— CryptoCon (@CryptoCon_) June 14, 2024What’s Next: The influence of Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19. Read Next: Arthur Hayes, Raoul Pal Predict Dogecoin ETF: ‘If People Wait In Line For Luxury Brands, They Will Trade Meme Coins Online’ Image: Shutterstock Market News and Data brought to you by Benzinga APIs© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.