Bitcoin drops below $11,700, ETH testing $300 as alts suffer too

27 Jun, 2019
Analysis
Bitcoin drops below $11,700, ETH testing $300 as alts suffer too

Bitcoin appears to be correcting from the recent price climb as it drops below $11,700, alts also appear to be seeing declining prices.

Bitcoin has dropped over 6% on the morning after a dramatic surge in price yesterday that saw a 20% gain in price. The correction appears to be across the market as most altcoins saw declining prices in USD comparisons. 

Ethereum also saw a similar drop around 8% as the price began restesting the $300 area. Majority of altcoins on Binance have seen large drops in USDT pricing as BTC prices appear to be gaining momentum. 

A correction was imminent following the rally over the past couple of days, and it appears it has arrived. Something traders would have been keeping an eye on in terms of BTC pricing as cryptos appear to be strengthening against Bitcoin, especially as it now declines in price due to the correction.

Bitcoin currently is holding between $11,700 and will look to hold this level otherwise more blood will be expected across the board. On the bright side, BTC pairings are beginning to see some relief after the past few days of bloodshed.

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Read more about: Bitcoin (BTC)

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