Solana
Cardano and Solana prices fall as BTC targets $60,000
The total market capitalization of cryptocurrencies fell to around $2.35 trillion today, losing around $100 billion overnight as prices continue to fall.
Altcoins are seeing considerable losses, with Cardano (ADA) and Solana (SOL) feeling the pressure.
Cardano (ADA) and Solana (SOL) prices fall
Altcoins have declined significantly over the past 24 hours, with the entire cryptocurrency market trading well in the red.
As shown in the heat map below, SOL collapsed by almost 6%, while ADA lost around 4.46%.
As Solana falls below $130, many are now wondering if the bears will target the coveted $100 level next. ADA, on the other hand, continues its depressing performance with impending support currently positioned around $0.35.
BTC carries $60,000 target
Bitcoin price is performing slightly better than Cardano and Solana, but it appears to be the main catalyst for the market’s downtrend.
BTC is currently trading at around $61,300, down 4.4% on the day. Sellers are apparently ready to test the $60,000 pivot level.
The reason behind this move could be a recent announcement that Mt. Gox Trustee could begin Bitcoin and Bitcoin Cash refunds as early as next July. According to a note issued by the stock exchange:
Now that these preparations are in place, the Trustee for Rehabilitation will begin repayments in Bitcoin and Bitcoin Cas in due course through the cryptocurrency exchanges with which the Trustee for Rehabilitation has finalized the exchange and confirmation of the information required for the implementation of reimbursements. Reimbursements will be made from the beginning of July 2024.