TradingKey – Under the impact of the macroeconomic environment and traditional financial IPOs, crypto market liquidity is restricted, and Bitcoin has once again fallen below the $60,000 mark, though it has not yet disrupted its range-bound trend.

On June 25, cryptocurrencies suffered another bloodbath, with the entire market falling over 2% and the total market capitalization pulling back to around $2 trillion, hitting a new low since October 2024. Bitcoin ( BTC ), Ethereum ( ETH ), Solana ( SOL ), Dogecoin ( DOGE) and other major coins all fell by more than 3%, with only HyperLiquid seeing a slight increase.

Price movements of the top 10 cryptocurrencies by market capitalization, Source: TradingView

This wave of decline in the crypto…