Bitcoin’s price faced another rejection following the renewed strikes in the Middle East and Trump’s latest statement, going from over $64,000 to under $62,000 in hours.

Most altcoins have joined the ride south, with ETH sliding below $1,750, while XRP has dropped beneath $1.10. PI has marked another all-time low.

BTC Dips Below $62K

The start of July has been a mini rollercoaster for the primary cryptocurrency. It dipped below $58,000 on July 1 for the first time in nearly two years, but began its gradual recovery immediately and surged to over $63,000 over the weekend. After a minor retracement there, it jumped to $64,000 on Monday morning for the first time in two weeks.

However, Strategy’s new and much bigger BTC sale drove it south again, as the asset dumped to $61,200 in a FUD-induced move. While many expected another leg down, bitcoin went in the opposite direction and jumped past $64,600 within hours. This was another short-lived rally, though, and it slipped to $62,600 yesterday.

Another leg up followed, driving the cryptocurrency to $64,200, where it was rejected again after the US and Iran launched new strikes against each other. The landscape worsened hours ago after Trump said he believes the MoU with Iran is ‘over.’ BTC dumped further, dropping below $62,000 for the second time this week.

Its market cap has retreated to $1.240 trillion, while its dominance over the alts remains at 56.6% on CG.

PI’s New ATL, LAB’s Crash

Pi Network’s native token continues to be among the poorest performers during this cycle. It keeps dropping to new all-time lows, and it hit a new one earlier today. Despite the new updates from the team, PI plummeted by over 8% and crashed to $0.101 (on CoinGecko) to set a new low. It’s down by over 96.5% since its ATH in February 2025.

LAB has dumped the most over the past 24 hours. The token has lost over 80% of its value and now struggles below $2.30. PUMP, BEAT, and JUMP complete the double-digit losers club today.

Ethereum and Binance Coin have lost over 2% of value, while XRP, SOL, HYPE, and DOGE are down by 4-5%. XLM, NEAR, ADA, and CC have dropped by more than 5% daily. ZEC is among the few exceptions in the green now after the recent update from founder Zooko Wilcox-O’Hearn.

The total crypto market cap has shed $50 billion in a day and is below $2.2 trillion on CG now.

Source: CryptoPotato