The relatively quiet weekend ended with BTC struggling to remain above $64,000, but Monday started with a massive price dump to a 6-week low of $62,000.

The altcoins have also turned red, with SOL, SHIB, UNI, BCH, and many others dropping by over 5% daily.

BTC Falls to $62K

Last week didnt go well for the primary cryptocurrency as the ETF outflows skyrocketed. The underlying asset went from a weekly peak of over $67,000 to a multi-week low of $63,500 on Friday. Compared to the previous week, the losses were even more violent as BTC had tapped $70,000 on a few occasions back then.

The weekend was expectedly less volatile. The cryptocurrency spent it above $64,000 after regaining some traction on Friday evening. However, Monday began with the bears in control, as reported earlier.

In a matter of hours, the largest digital asset plummeted by nearly $3,000 and fell to $62,100 for the first time since May 15. Despite bouncing off and recovering about $700 since then, bitcoin is still 2.3% down on the day. Moreover, BTC now trades 5% lower than it did this time last week.

Alicia BakeryCMO - A really good agencyDid you like this market update?

This is all you need not to miss any price action in the raging crypto markets. Start receiving this recap, for free, every day:

Invalid email address Your privacy is guranteed.Thanks for subscribing, you will get your first report in the next hours! Its market capitalization has plummeted by $1.240 trillion, but the silver lining comes from the increasing dominance, which is up to 51.6%.

Bitcoin/Price/Chart 24.06.2024. Source: TradingView

Red Among Alts

As it typically happens when BTC heads south violently, so do most altcoins. Ethereum has dumped below $3,340 after a 3% daily drop. BNB is down by 3% as well to $575. Similar losses come from DOGE, TON, ADA, AVAX, and LINK.

Even more painful declines come from SOL, SHIB, UNI, and BCH from the larger-cap alts, which have seen about 6-8% drops. The meme coin industry is in an even worse state, with several double-digit drops from the likes of PEPE, FLOKI, BRETT, and others.

The cumulative market cap of all crypto assets is down by $70 billion since yesterday to just under $2.4 trillion on CG.

Cryptocurrency Market Overview. Source: QuantifyCrypto SPECIAL OFFER (Sponsored) Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER 2024 at BYDFi Exchange: Up to $2,888 welcome reward, use this link to register and open a 100 USDT-M position for free!

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.