Shoking News:- Cryptocurrency price on July 8: Bitcoin slips below $56k, Solana, NEAR Protocol decline up to 7%

dragged down by Bitcoin, Ethereum, and Solana. The global cryptocurrency market cap also fell by 3.3% to around $2.04 trillion in the last 24 hours.

At 1:10 PM, Bitcoin (BTC) was trading 2.5% lower at $55,667, while Ethereum declined 2.6% to $2,916. Bitcoin touched a low of $54,321 earlier in the day.

"The crypto market faced continued downward pressure, impacted by BTC movements from Mt. Gox and mixed macro data. BTC lost key support levels, hovering slightly above $55,000. The next few daily closings will determine the market's direction, with a period of sideways consolidation expected. This week’s U.S. CPI data will be crucial," said the CoinDCX Research Team.
Similarly, the CoinSwitch Markets Desk noted, "The Crypto Fear & Greed Index has dropped to 29, its lowest point since January 2023, as Bitcoin's price fell below $54,000. This decline is largely attributed to selling pressure from seized BTC sales by the German and U.S. governments, as well as refunds to Mt. Gox users. Bitcoin could further dip to $50,000 due to these factors."

Other prominent cryptocurrencies, including XRP, Toncoin, Dogecoin, Cardano, Tron, Shiba Inu, Polkadot, and Polygon, declined by up to 5%. NEAR Protocol fell 7.2%.

Bitcoin, Ethereum, Dogecoin In Full Meltdown As Mt.Gox Moves $2.7B To New Wallet: Bitcoin Declines To $51K Feared By Analyst
Benzinga/Benzinga
Bitcoin, Ethereum, Dogecoin In Full Meltdown As Mt.Gox Moves $2.7B To New Wallet: Bitcoin Declines To $51K Feared By Analyst
Bitcoin's Price Plummets to Nearly $54,000 as Mt. Gox Repays Creditors in Crypto
Dailymotion/Dailymotion
Bitcoin's Price Plummets to Nearly $54,000 as Mt. Gox Repays Creditors in Crypto
The volume of all stablecoins is now $62.88 billion, which is 92.76% of the total crypto market 24-hour volume, according to CoinMarketCap.

In the last 24 hours, the market cap of Bitcoin, the world's largest cryptocurrency, fell to $1.1 trillion. Bitcoin's dominance is currently 53.84%, according to CoinMarketCap. BTC volume in the last 24 hours surged 27.8% to $26.2 billion.

Bitcoin is experiencing a fierce contest between bulls and bears. Buyers are striving to maintain the price within the $56,552 to $73,777 range, while sellers are pushing to drive it lower. On July 5, the price dipped to around $53,500, but this lower level drew buying interest from the bulls. Data indicates that the U.S.-based spot Bitcoin exchange-traded funds saw net inflows of $143.1 million on July 5, marking the largest monthly influx.