Bitcoin Price Dips Below $63,000

The leading cryptocurrency continued its correction, with its rate momentarily dropping to $62,666 on Binance in the USDT pair.

At the time of writing, the asset’s price is attempting to stabilize around $63,000.

Over the past day, Bitcoin’s rate has fallen by 5.3%, according to CoinGecko. Ethereum’s price has dropped by 5.7%.

XRP corrected by ~10%, Dogecoin by ~8%.

Renowned trader Peter Brandt noted the continuation of a series of lower highs and lower lows in Bitcoin’s price.

The series of lower highs and lower lows continues $BTC pic.twitter.com/T4vfCID0Mf

— Peter Brandt (@PeterLBrandt) July 31, 2024

The total cryptocurrency market capitalization stands at $2.36 trillion, according to CoinGecko. The dominance index of digital gold is 52.5%.

Back in July, the Fed maintained the key rate. Against this backdrop, Bitcoin showed a restrained correction to $66,400.