Crypto Market Analysis: Bitcoin Struggles, Altcoins Crumble - Is the Bull Run Over?

The cryptocurrency market is showing signs of weakness, with Bitcoin struggling to stay above $60,000 and altcoins experiencing significant declines. The bearish sentiment is fueled by factors such as selling pressure from Mt. Gox creditors and uncertainty surrounding the potential impact of their repayments on the market. Bitcoin's continued sideways action could be threatened by the selling pressure from Mt. Gox creditors, who are expected to receive their repayments in early July. While spot Bitcoin exchange-traded funds have shown significant inflows, it's difficult to predict the amount of Bitcoin that will be dumped into the open market by Mt. Gox creditors. This uncertainty could lead to volatility in the coming days. Other key cryptocurrencies are also facing challenges. Ethereum (ETH) has failed to break above the 20-day EMA, indicating that the bears are in control. BNB is struggling to hold above its immediate support level, while Solana (SOL) has turned down from the 50-day SMA. XRP, Dogecoin, TON, Cardano (ADA), Avalanche (AVAX), and Shiba Inu (SHIB) are also showing signs of weakness, with buyers failing to maintain upward momentum. The overall market sentiment is bearish, with traders appearing hesitant to buy the current dip. However, there are some potential buy opportunities if the price rebounds off support levels. It's important to note that this analysis is not investment advice, and investors should conduct their own research before making any decisions.