Bitcoin prices fell below $60,000 in June, making it the first time since 2024 that they were that low. A souring macroeconomic picture and aggressive ETF outflows were pegged as the reason for the slide, with these factors still in play this month. However, says analysts with 21shares, last month wasn't all bad for cryptocurrency. "Bitcoin and Ethereum get most of the attention, but the broader onchain picture told a different story in June," says the firm in a note. "Solana captured over 90% of tokenized-equity trading volume during the month, clearing $1 billion, a sign that activity and building continued underneath the price weakness." Solana also had a tough month pricewise sliding 23% in the first week of June, but has since recovered those losses. (kirk.maltais@wsj.com)
Dow Jones Newswires
Despite Tough June, Some Bright Spots Seen for Crypto — Market Talk
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Bitcoin prices fell below $60,000 in June, making it the first time since 2024 that they were that low. A souring macroeconomic picture and aggressive ETF outflows were pegged as the reason for the slide, with these factors still in play this month. However, says analysts with 21shares, last month…