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.