In a recent development, Bitcoin (BTC) has experienced a dip in its price, falling towards $64,000 for the third time this week. Despite reaching $70,000 last week, the leading cryptocurrency failed to maintain its momentum, resulting in a drop below $65,000.

The start of the new business week saw BTC attempting to recover, reaching $67,000 before being driven down to a monthly low of $64,000. The cryptocurrency is now struggling to stay above this mark. This decline coincides with continuous outflows from spot Bitcoin ETFs, with withdrawals yesterday nearing $140 million.

Altcoins have also seen a downturn, with Ethereum (ETH) falling by more than 3% and Binance Coin (BNB) declining by a similar percentage. Notably, meme coins have been hit particularly hard, with several experiencing drops of more than 8%.

Despite these setbacks, the overall market outlook remains optimistic. The dominance of BTC over altcoins has slightly increased to 51.5%, indicating a potential for recovery. As the market navigates these fluctuations, all eyes remain on the potential of DeFi and BRC-20 tokens to drive future growth.