Bitcoin, Ethereum, XRP, Dogecoin Cool Off As ‘Extreme Fear’ Prevails: Analyst Says ‘We’ll Be Testing New Lows’ If BTC Fails To Hold This Level
June 16, 2026
Leading cryptocurrencies retreated alongside stocks on Tuesday as investors cashed in on recent gains.
|
Cryptocurrency |
24-Hour Gains +/- |
Price (Recorded at 9:25 p.m. EDT) |
|---|---|---|
|
Bitcoin (CRYPTO: BTC) |
-1.18% |
$65,513.55 |
|
Ethereum (CRYPTO: ETH) |
-0.45% |
$1,784.83 |
|
XRP (CRYPTO: XRP) |
-1.77% |
$1.20 |
|
Solana (CRYPTO: SOL) |
-1.16% |
$73.30 |
|
Dogecoin (CRYPTO: DOGE) |
-0.97% |
$0.08708 |
Crypto Market Takes A Breather
Bitcoin gave back some of its recent gains, falling back into the $65,000 zone after coming close to breaking $67,000. Ethereum followed suit, reversing from the intraday high of $1,837 to the high $1,700s. XRP and Dogecoin also pulled back.
Cryptocurrency-related stocks also retreated, with Strategy Inc. (NASDAQ:MSTR) and Bitmine Immersion Technologies Inc. (NYSE:BMNR) closing down 6.35% and 5.26%, respectively.
Over $340 million was liquidated from the market in the last 24 hours, with long position traders bearing the brunt of the losses, according to Coinglass data.
Alongside the spot price dip, Bitcoin’s open interest contracted by 1.59% over the last 24 hours. Retail and whale derivatives traders on Binance, meanwhile, remained long on the apex cryptocurrency.
“Extreme Fear” sentiment prevailed in the market, according to the Crypto Fear & Greed Index.
Top Gainers (24 Hours)
|
Cryptocurrency (Market Cap>$100 M) |
Gains +/- |
Price (Recorded at 9:25 p.m. EDT) |
|
Block Street (BSB) |
+42.54% |
$0.5404 |
|
LAB (LAB) |
+37.97% |
$13.51 |
|
SKYAI (SKYAI) |
+29.24% |
$0.4741 |
The global cryptocurrency market capitalization stood at $2.25 trillion, following a modest dip of 0.85% over the last 24 hours.
Read Also: SpaceX Crypto Squeeze; Bonds Do Not Share Stock Market Euphoria; Warsh Era Begins
Stocks Trade Mixed
Stocks were a mixed bag on Tuesday. The Dow Jones Industrial Average jumped 328.64 points, or 0.64%, to close at a record high of 51,999.67.
The S&P 500, on the other hand, slid 0.57% to end at 7,511.35, while the tech-heavy Nasdaq Composite retreated 1.15% to close at 26,376.34.
The United States Oil Fund (NYSE:USO), which tracks West Texas Intermediate crude oil, closed 4.74% lower, extending its ongoing decline after President Donald Trump confirmed a peace deal with Iran.
Why This BTC Level Is Key
Widely followed cryptocurrency analyst and trader Michaël van de Poppe identified $64,000 as the key support level for Bitcoin that could “decide everything in terms of direction.”
“If Bitcoin fails to hold above $64,000, we’ll be testing new lows,” Van De Poppe said. “If it does hold above $64,000, I assume we’ll be seeing $74-79,000 as the next target zone.”
That’s the incoming test for #Bitcoin and it will decide everything in terms of direction for the coming period.
If Bitcoin fails to hold above $64,000, we’ll be testing new lows.
If it does hold above $64,000, I assume we’ll be seeing $74-79,000 as the next target zone and it… pic.twitter.com/gFjl8XB2Wg
— Michaël van de Poppe (@CryptoMichNL) June 16, 2026
On-chain analytics firm Santiment highlighted an increase in bullish commentary for top cryptocurrencies after the U.S.-Iran agreement, without any signs of “excessive greed” yet.
“The crowd is becoming more optimistic, but not enough to suggest widespread FOMO, leaving room for bullish momentum to continue,” the firm added.
✍️ TL;DR: Sentiment toward top caps less fearful after U.S. & Iran agreement, retail still showing some caution
📊 Metrics Used: Greed/Fear Sentiment
🔗 Link to chart: https://t.co/AuXl4CgdE3📈 Crypto’s three largest communities are finally showing signs of optimism again.… pic.twitter.com/JWWGR8Dj9j
— Santiment Intelligence (@SantimentData) June 16, 2026
Read Also: Saylor Fires Back: ‘We’re The Biggest Buyer Of Bitcoin In The World’
Photo Courtesy: vinnstock on Shutterstock.com
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This article Bitcoin, Ethereum, XRP, Dogecoin Cool Off As 'Extreme Fear' Prevails: Analyst Says 'We'll Be Testing New Lows' If BTC Fails To Hold This Level originally appeared on Benzinga.com
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