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Crypto

Bitcoin tests $60,000 support as dollar, yields pressure persists

Bitcoin has entered a deep undervaluation zone on on-chain indicators, but whether the $60,000 support holds depends on the dollar and U.S. Treasury yields, an analysis said. Glassnode cited a drop in the dollar index below 99 or a decline in the 10-year U.S. yield to the 4.2 percent range as conditions for a rebound. It said spot demand and corporate buying have weakened, while options markets price greater downside risk.

Crypto

Bitcoin at crossroads as pullback mirrors pattern before 2022 eightfold surge

Bitcoin is showing a price structure similar to the 2022 bear market, an analysis said. Analyst TARA sees an ABC correction pattern and warned the current rebound could be a temporary relief rally, with further declines possible. He said confirmation would require a rebound to at least $72,800 that then turns into resistance, implying a roughly 17 percent rise from $61,900. He also cited the rapid final leg of declines in 2022 and did not give a target.

Crypto

XRP rebound pivots at $1.12 and $1.25 as further decline still possible

XRP has rebounded slightly after falling to its lowest level of the year, fuelling debate over whether the decline has bottomed. XRP dropped to $1.05 on June 6 and later traded around $1.11, The Crypto Basic reported. Analyst Cathy said support near $1.12 and resistance at $1.25 were key. Another analyst, Tara, said XRP could rise further if bitcoin climbs, but warned a renewed decline remains possible.