The cryptocurrency market is experiencing a downturn due to various factors, including Bitcoin's inability to breach the $68,500 resistance level. The total market capitalization remains under $2.40 trillion, with Bitcoin holding a support floor at $65,000. Pyth Network's token emerged as the biggest loser, dropping by 11% to a four-month low. Market sentiment is further affected by the overall bearishness and limited investor activity, causing concerns about further declines. Genesis's court-approved distribution of $3 billion to creditors and Kraken's decision to keep Tether (USDT) listed in Europe were notable developments.
Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.
