Bitcoin Weaker as Retest of Lows Anticipated — Market Talk

Bitcoin is down 0.2% to $64,496, and a further slide could be in the cards, says Nicolai Søndergaard of Nansen in a note--to as low as $52k to $58k. "Onchain and derivatives signals show that strong buyers have not yet returned or confirmed a durable bottom," says Søndergaard. The Federal Reserve's decision on interest rates later this week and commentary around it may set the tone for how bitcoin moves in the near future, he adds--along with Strategy's 2Q results also slated for this week. Should bitcoin fall to $52k, it would be the lowest it has traded since February 2024. Ethereum is up 0.5% to $1,922, XRP is down 1.3% to $1.09, and solana is flat around $75.28. ([email protected])