Monero, Zcash, and Jupiter lead losses as Bitcoin floors $60,000
Monero (XMR), Zcash (ZEC), and Jupiter (JUP) are leading the cryptocurrency bear market over the last 24 hours as Bitcoin (BTC) dropped 14% on Thursday. At the time of writing, Bitcoin climbed to $65,000 on Friday in the early Asian trading session from a $60,000 low earlier on the day, reflecting a minor recovery and potential short-term floor formation. The technical outlook for altcoins is skewed to the downside if the major crypto continues to lose its floor.
Bitcoin rebounds from $60,000
Bitcoin is down roughly 50% from its all-time high of $126,199 on October 6, putting the broader market under pressure. On the daily chart, Bitcoin holds above the 78.6% trend-based Fibonacci retracement level at $62,083, which is measured within a…
