Bitcoin suffered another sharp decline yesterday and early this morning, falling to a fresh multi-month low just above $65,000 before staging a modest rebound.
While several altcoins posted double-digit losses today, a notable number of tokens bucked the broader market trend with comparable gains.
BTC Rebounds From $65.3K
After losing the $80,000 support level at the end of May, Bitcoin entered a sustained downtrend over several days. It initially slid to $76,000, only for bearish momentum to push it below $73,000 as the month closed.
The price recovered slightly to about $74,000 but was rejected there. The sell-off resumed in early June, with bears driving Bitcoin below $70,000 yesterday and maintaining pressure for several hours. That selling pressure culminated earlier this morning in a drop to roughly $65,300, marking BTC’s lowest trading level in around two months.
Buyers stepped in at that point and prevented a further collapse. Bitcoin has recovered approximately $2,000 from the local low and is trading near $67,000, though some critics remain concerned and warn that a breach of $50,000 could expose BTC to much deeper losses.
At the time of writing, Bitcoin’s market capitalization is about $1.35 trillion, while its dominance over alternative cryptocurrencies continues to decline to well below 56% on major trackers.
Altcoins That Rocketed
Red still dominates many altcoin charts. Ethereum slipped below $1,900 after a nearly 5% daily decline. Solana fell to about $75 on a similar pullback. XRP dipped to $1.20 yesterday—coinciding with its 14th birthday—before recovering to around $1.24.
BNB and Bitcoin Cash are firmly in the red, as are Dogecoin and several others, with one token plunging about 11%. Conversely, a handful of projects surged: DEXE and ENA each climbed more than 20% on the day, while ONDO, WLD, and VVV joined the list of double-digit gainers.
The total cryptocurrency market capitalization briefly dropped under $2.35 trillion earlier today but has since recovered to roughly $2.4 trillion on major market aggregators.
Market conditions remain volatile, with selective strength among individual altcoins even as Bitcoin wrestles with renewed downside pressure.