Bitcoin prices continue their disappointing movements, as the first digital currency in terms of total market value stopped at the level of $66,400 and then fell below the level of $64,000 for the third time this week.
Altcoins were not immune to this decline, as they witnessed notable declines, especially in the meme-themed coins category, which witnessed the worst performance.
Bitcoin falls below $64,000
Bitcoin has arguably seen better days in terms of price action.
The digital currency recorded levels close to the $70,000 level on several occasions during the past week.
However, its inability to hold above this level led to a painful pullback that took its price below $65,000 by Friday.
The weekend was relatively calm, as the cryptocurrency was able to regain some momentum and rose slightly to reach the $66,000 level.
At the beginning of the new week, Bitcoin tried to rise towards $67,000, but bears pushed it back to its lowest monthly level at $64,000.
After that, Bitcoin went on the offensive yesterday and rose to around $66,500 (according to Bitstamp data).
But the price rejection again pushed the currency lower, as the currency is now struggling to stay above the $64,000 level.
These price declines coincided with continued outflows from Bitcoin ETFs.
After a pause on June 19, withdrawals yesterday reached around $140 million, with GBTC funds outperforming FBTC for the first time in several days.
With this decline, Bitcoin's market capitalization fell by 2% on the day to reach $1.265 trillion.
However, Bitcoin's dominance in the alternative digital currency market increased slightly to 51.5%.
Alternative digital currencies and meme-themed currencies are negatively affected:
Most altcoins have seen bigger declines than Bitcoin.
The price of Ethereum (ETH) fell by more than 3%, falling below the psychological support level of $3,500.
The price of Binance Coin (BNB) also declined by a similar percentage to $580.
But meme-themed digital currencies were most affected by the market decline.
WIF fell to its lowest level in several months, followed by JASMY, BONK, BRETT, PEPE, and FLOKI, all of which fell by more than 8% within one day.
In total, the total market capitalization of all cryptocurrencies saw a decline of about $50 billion within a single day.
