Crypto Markets’ Recovery Halted as Bitcoin (BTC) Dumped Below $62K Again (Market Watch)

Crypto markets experienced a setback as Bitcoin’s price dropped below $62,000 once again, halting its recovery from previous losses. Altcoins also suffered significant price declines, with SOL, TON, BCH, and others leading the way. BTC had initially climbed above $70,000 but faced challenges after the Fed’s interest rate policy announcement and tensions in the Middle East. Despite a temporary bounce back to $67,000, bears took control, pushing Bitcoin down to just under $62,000. The overall crypto market cap declined by $100 billion to $2.430 trillion, with Bitcoin’s market capitalization decreasing by approximately $50 billion to $1.250 trillion. Altcoins like Ethereum, Binance Coin, Ripple, Dogecoin, Cardano, Tron, and Polygon also experienced losses. However, OKB, the native token of OKX, was an exception, gaining 6.5% and reaching a value close to $60.