Bitcoin dips under $63,000, meme coins fade with steep correction in top five

Bitcoin price shows signs of further decay, falling below $63,000 on Monday. Meme coin market capitalization shrinks, Dogecoin, Shiba Inu, Pepe, Dogwifhat, Floki hit by steep correction in the past 24 hours. Traders can expect a nosedive under $60,000 as BTC collects liquidity in the closest imbalance zone. BTC is in a state of decline, and news of VanEck’s Spot Bitcoin ETF launch in Australia failed to improve traders' sentiment.

The crowd is mainly fearful or disinterested toward Bitcoin as prices range between $65K to $66K. This extended level of FUD is rare, as traders continue to capitulate. BTC trader fatigue, combined with whale accumulation, generally leads to bounces that reward the patient. pic.twitter.com/WMy3lbdjEB — Santiment June 20, 2024 After weeks of choppy market outlook, Bitcoin looks ready to collect liquidity in the Fair Value Gap between $59,625 and $62,541, as seen in the BTC/USDT 1-day chart.

Source: News Formal (newsformal.com)

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