Bitcoin

Ordinal BTC

Bitcoin (BTC) has struggled to stay above $55,000, leading to an 8% market correction in the last 24 hours. This drop has caused major tokens to fall below their key support levels. Following this trend, BRC-20 tokens have also seen significant losses.Top BRC-20 tokens like ORDI and SATS have dropped 17.38% and 26.71% respectively over the past day. In this article, we explore the market sentiments and price analysis of Ordi (ORDI), Bitcoin SV (BSV), and 1000SATS (SATS) to assess their potential targets for July.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/5d397491bcf94012a4f1300414f4be19.png" /><h3 id="ordi-ordi-faces-major-correction-amid-crypto-market-downturn">Ordi (ORDI) Faces Major Correction Amid Crypto Market Downturn</h3>Ordi (ORDI) has seen a significant price correction of over 17% amid the current crypto market downturn. The altcoin’s 24-hour trading volume stands at $278.177 million, reflecting a notable increase of 92.42%. Year-to-date, ORDI has plunged by 64.60%, underscoring a persistent bearish trend.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/fe330fcc51e7426cb25d887e43d1ce28.png" />ORDI/USDT: TradingViewThe MACD indicator shows a rising red histogram, signaling increasing selling pressure and a bearish sentiment in the market. The technical averages support this outlook, suggesting that ORDI might continue to face downward pressure this week.However, if ORDI can maintain its price above the critical support level of $28.25, it could regain bullish momentum and attempt to test the upper resistance level at $50.75. On the other hand, if bearish trends persist, ORDI may drop to test its low of $17.80.<h3 id="1000sats-sats-struggles-with-severe-decline-amid-market-correction">1000SATS (SATS) Struggles with Severe Decline Amid Market Correction</h3>Following the lead of the top <a href="https://cryptosheadlines.com/coinbase-newsletter-sparks-controversy-with-mention-of-pepecoin-and-brc-20-tokens/" rel="noopener noreferrer nofollow">BRC-20 token</a>, 1000SATS (SATS), the second-largest BRC-20 token by market cap, has experienced a dramatic drop of over 27% in the past day and 62.82% in the past month. The token has plummeted by 84.76% this year, reflecting a strong bearish sentiment.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/5d397491bcf94012a4f1300414f4be19.png" /><img src="https://academy-public.coinmarketcap.com/optimized-uploads/85090d89b4104850aac0b1fe6571825f.png" />SATS/USDT: TradingViewThe MACD indicator shows a flatline in its histogram, signaling weak price action for SATS. Additionally, the moving averages are displaying a neutral trend, indicating uncertainty about future price movements.<a href="https://cryptosheadlines.com/vitalik-buterin-calls-us-crypto-regulations-anarcho-tyranny/" rel="noopener noreferrer nofollow">Also Read: Vitalik Buterin Calls US Crypto Regulations &#34;Anarcho-Tyranny&#34;</a>The SMA indicator is consistently acting as resistance on the SATS price chart in the 1D time frame, reinforcing the bearish sentiment surrounding the altcoin.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/aa11b8e6ac1043d2b28edf185b848d44.png" />Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

BRC-20 Tokens Crash: ORDI and SATS Hit Hard

Table of Contents

cmcdelete@edb8d1ee4ec9a85c04690131b307c085

Other articles published on Jul 6, 2024

German MP Calls To Halt Bitcoin Sell-off Now

PEPE and WIF Meme Coins Recover as Others Struggle

US House of Representatives to vote on controversial SAB 121 Bill next week

What Ethereum’s future holds after ETH erases ‘pre-ETF approval’ gains

Indian Police to Deploy AI for Rath Yatra Traffic Management

Dogwifhat (WIF) Meme Coin Going as Predicted; Could Spike Another 25%: BONK Trading at Make-or-Br...

Join our free newsletter for daily crypto updates!