đđBitcoin Hits Four-Month Low Amid Market Drop: Important Investor Tips đđ
There was a huge decline in the cryptocurrency market this week; Bitcoin hit a four-month low, falling to $53,500. Altcoins also contributed to the market turmoil with double-digit losses.
Despite the downward trend, there have been positive developments, such as increased interest in Hamster Kombat and the first phase of the Artificial Super Intelligence (ASI) merger process.
Binance announced on July 1 that it had added 11 altcoins to its watchlist, raising potential delisting concerns. Projects such as Balancer (BAL), Cortex (CTXC) and PowerPool (CVP) experienced significant price drops. In particular, Cortex lost 8.09%, PowerPool lost 12.66% and Dock lost 11.71%.
This move by Binance aims to highlight tokens that carry high volatility or risk and encourage investors to be careful, while also recommending that they consider compliance with the platform's listing standards.
July will be decisive for the cryptocurrency market, as over $3 billion in tokens are expected to be unlocked, which could increase selling pressure. AltLayer (ALT) will unlock approximately $119 million worth of tokens on July 25, which is approximately 22% of the project's market cap. Additionally, Aptos (APT) and Arbitrum (ARB) will continue their planned monthly token releases, bringing a total of $150 million worth of tokens to the market. These significant token unlocks may increase market volatility in the coming weeks.
Investors should be careful about altcoins on Binance's watchlist, as potential delistings could significantly impact token prices. Future token unlocks, especially from projects such as AltLayer, Aptos and Arbitrum, should be closely monitored due to their potential impact on the market.
