Bitcoin (BTC) is trying to recover rapidly after weeks of seeking buyers below resistance levels. However, the fact that the $40,000 support level is still being maintained is a positive sign. So, which cryptocurrencies were the losers of the day?
In the comments made for BONK Coin, it was suggested that over-the-counter sales by the team could drive the price down. Following the Binance listing, as was written for PEPE Coin, this could be the final stage for an all-time high (ATH). As expected, BONK Coin continues the day with double-digit losses.
The FTX bankruptcy committee announced that customer assets would be returned at the lowest value of the bear market; this is a complete disgrace considering the reality that customers entrusted their cryptocurrencies not to a bank but to an exchange, and these funds could appreciate in value by 5-10 times. It is indicated that the empty dreams for FTT Coin have ended and it continues to remain among the risky altcoins in the long term.
BEAMX Coin rose rapidly and just as quickly began to fall. BEAMX Coin, which was listed last month, is on the decline with decreasing demand, and if closes occur below $0.018, the pullback may continue.
Excitement within the Tron ecosystem was the most beneficial factor for BTTC Coin; however, every rise has an end. The price of BTTC Coin is returning with the decrease in demand. The negativity in BTC and the profit-taking after rapid rises are normalizing these declines.
A common feature of the day’s most falling altcoins is that they have made impressive rallies recently. This shows that investors focused on making a profit are withdrawing their assets. If BTC can remain strong, the capital withdrawn here may turn to other cryptocurrencies that have not yet reached expected levels.