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In another attempt to recover some of the recent losses, bitcoin tried its hand at $26,000 but failed in its tracks, at least for now.
Some altcoins, such as ADA and MATIC, keep rebounding, but BNB has slumped hard once again to a multi-month low.
<h2 id="bitcoin-stopped-at-26k">Bitcoin Stopped at $26K</h2>
It&#8217;s safe to say that the past seven days didn&#8217;t go well for bitcoin and the rest of the market. It all started on Monday when the US SEC launched a lawsuit against Binance that drove BTC south from $27,000 to $25,500. As the asset was trying to recover, the SEC did it again on Tuesday &#8211; this time, the regulator sued Coinbase.
Bitcoin slumped once more but, somewhat surprisingly, bounced off quite spectacularly and surged by $2,000 to $27,400. This momentum was stopped once again, and BTC retraced toward $26,500, where it spent the next few days.
However, another market correction arrived on Friday night and Saturday morning, which drove the cryptocurrency back down to $25,500. More volatility followed during the weekend, and BTC tried to reclaim $26,000 but has been unable to, at least for now.
As such, its market capitalization stands still at $500 billion, while its <a href="https://cryptopotato.com/altcoins-crash-double-digits-bitcoin-dominance-soars-market-watch/" data-wpel-link="internal">dominance</a> over the alternative coins is close to 48% after falling below 46% just a few weeks back.
<figure id="attachment_254778" aria-describedby="caption-attachment-254778" style="width: 1834px" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2023/06/BTCUSD-9.png" data-wpel-link="internal"><img class="size-full wp-image-254778" src="https://cryptopotato.com/wp-content/uploads/2023/06/BTCUSD-9.png" alt="BTCUSD. Source: TradingView" width="1834" height="875" srcset="https://cryptopotato.com/wp-content/uploads/2023/06/BTCUSD-9.png 1834w, https://cryptopotato.com/wp-content/uploads/2023/06/BTCUSD-9-300x143.png 300w, https://cryptopotato.com/wp-content/uploads/2023/06/BTCUSD-9-1024x489.png 1024w, https://cryptopotato.com/wp-content/uploads/2023/06/BTCUSD-9-768x366.png 768w, https://cryptopotato.com/wp-content/uploads/2023/06/BTCUSD-9-1536x733.png 1536w, https://cryptopotato.com/wp-content/uploads/2023/06/BTCUSD-9-50x24.png 50w" sizes="(max-width: 1834px) 100vw, 1834px" /></a><figcaption id="caption-attachment-254778" class="wp-caption-text">BTCUSD. Source: TradingView</figcaption></figure>
<h2 id="ada-up-bnb-down">ADA Up, BNB Down</h2>
Several altcoins, which the SEC named as unregistered securities in its lawsuits, were <a href="https://cryptopotato.com/bloodbath-the-reasons-behind-sol-matic-ada-sand-crash-today/" data-wpel-link="internal">harmed</a> the most in the past week. Expectedly, one of them is BNB &#8211; the native cryptocurrency of Binance.
BNB stood above $310 last week but slumped below $300 almost immediately. The nosedive continued during the week, the weekend, and in the past 24 hours. As such, the asset dumped to just over $220 hours ago, which is its lowest price position in six months.
ETH, Dogecoin, Solana, Litecoin, Avalanche, and Shiba Inu are also in the red from the larger-cap alts. In contrast, <a href="https://cryptopotato.com/ada-sol-shib-recover-8-following-saturdays-crash-xrp-reclaims-0-5-weekend-watch/" data-wpel-link="internal">ADA</a> has soared by 6% to $0.28, while MATIC is up by 4% and sits above $0.6.
Despite the massive volatility for some assets, the total crypto market cap has remained relatively still at $1.150 trillion.
<figure id="attachment_254779" aria-describedby="caption-attachment-254779" style="width: 1876px" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2023/06/Allcoins-7.jpg" data-wpel-link="internal"><img class="size-full wp-image-254779" src="https://cryptopotato.com/wp-content/uploads/2023/06/Allcoins-7.jpg" alt="Cryptocurrency Market Overview. Source: Quantify Crypto" width="1876" height="847" srcset="https://cryptopotato.com/wp-content/uploads/2023/06/Allcoins-7.jpg 1876w, https://cryptopotato.com/wp-content/uploads/2023/06/Allcoins-7-300x135.jpg 300w, https://cryptopotato.com/wp-content/uploads/2023/06/Allcoins-7-1024x462.jpg 1024w, https://cryptopotato.com/wp-content/uploads/2023/06/Allcoins-7-768x347.jpg 768w, https://cryptopotato.com/wp-content/uploads/2023/06/Allcoins-7-1536x693.jpg 1536w, https://cryptopotato.com/wp-content/uploads/2023/06/Allcoins-7-50x23.jpg 50w" sizes="(max-width: 1876px) 100vw, 1876px" /></a><figcaption id="caption-attachment-254779" class="wp-caption-text">Cryptocurrency Market Overview. Source: Quantify Crypto</figcaption></figure>
The post <a href="https://cryptopotato.com/binance-coin-bnb-dumps-to-6-month-low-bitcoin-btc-fails-at-26k-market-watch/" rel="nofollow">Binance Coin (BNB) Dumps to 6-Month Low, Bitcoin (BTC) Fails at $26K (Market Watch)</a> appeared first on <a href="https://cryptopotato.com/" rel="nofollow">CryptoPotato</a>.

Binance Coin (BNB) Dumps to 6-Month Low, Bitcoin (BTC) Fails at $26K (Market Watch)

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