COLLAPSE! Bitcoin price today, June 24, in Mexico falls more than 5%: why? By Investing.com

COLLAPSE! Bitcoin price today, June 24, in Mexico falls more than 5%: why? By Investing.com
COLLAPSE! Bitcoin price today, June 24, in Mexico falls more than 5%: why? By Investing.com

Investing.com – This Monday, June 24, 2024, around 10:00 a.m. Mexico City time, the price of and the main cryptocurrencies in Mexico plummeted. Bitcoin extends last week’s losses and falls below $61,000, observing levels not seen in more than a month, while Ethereum pierced the $3,300 floor, something that had not happened since mid-May.

“Miners have been under tremendous pressure to sell due to higher break-even prices after the halving. Miners’ BTC holdings have fallen to the lowest level we’ve seen in the last 14 years, with total reserves down 50,000 since the start of the year. The market has also been spooked by the emergence of a new large supply group. The German government supposedly sold around 3,000 BTC in recent days and has 47,000 more left,” QCP Capital strategists explained.

This comes as spot Bitcoin ETFs in the United States continue to see investor outflows, accumulating two weeks of outflows reaching around 1 billion in the last 15 days.

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Price of cryptocurrencies in Mexico

Bitcoin, the most well-known cryptocurrency with the highest market capitalization, is trading today at 1.093 billion Mexican pesos, which represents a 5.26% drop in the last 24 hours, according to real-time data from Investing.com.

the second most important cryptocurrency by market capitalization, is today at 59,128 Mexican pesos, which represents a drop of 5.55% in the last 24 hours.

the cryptocurrency backed by Binance, also registered a decline of 3.9% in the last 24 hours when trading at around 11,123 Mexican pesos.

another of the most popular cryptocurrencies for investors in Mexico that works under a decentralized scheme, showed a decrease of 3.7% in the last 24 hours when trading at 2,281 Mexican pesos.

known for its focus on cross-border payment and remittance solutions, is trading today at 8.52 Mexican pesos, showing a loss of 1.87% in the last 24 hours.

This meme cryptocurrency is traded at 2.11 Mexican pesos, showing a decline of 4.41% in the last 24 hours.

another prominent project in the cryptocurrency space, is trading this morning at 6.67 Mexican pesos, showing a drop of 4.09% in the last 24 hours.

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Note to reader: The prices mentioned in this article correspond to the value of the cryptocurrencies on the date indicated and may vary depending on supply and demand on different cryptocurrency exchanges. It is recommended to carry out a thorough analysis before making any investment.

 
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