Bitcoin fell below $26,000

Over the weekend, the price of bitcoin fell by about 3%. On Monday, June 12, the BTC rate weakened by another 1.1% to $25,800. Ether (ETH) fell to $1,738. Over the week, the capitalization of ETH fell by more than 7%.

Binance Coin (BNB) and Cardano (ADA) were the most affected last week. They collapsed by more than 25% to $224 and $0.278, respectively.

Market capitalization at the time of publication of this review was just over $1.049 billion. The Bloomberg Galaxy Crypto 100 index fell by almost 1%.

The attractiveness of digital currencies is reduced due to the uncertainty with crypto regulation in the US. Many in the blockchain industry are urging Washington to speed up and adopt a regulatory framework for this sector of the economy.

Stefan von Hoenisch, who heads the trading division at Singapore-based OSL SG Pte, believes that at $26,000, a zone of strong resistance has formed for Bitcoin.

A similar point of view is shared by the co-founder of the Australian hedge fund DACM, Richard Galvin.

In his opinion, a slight rebound after the fall over the weekend is unlikely to qualitatively improve the situation in the cryptosphere. Any shock could trigger new selloffs and BTC pullbacks.