Laser Focus World is an industry bedrock—first published in 1965 and still going strong. We publish original articles about cutting-edge advances in lasers, optics, photonics, sensors, and quantum technologies, as well as test and measurement, and the shift currently underway to usher in the photonic integrated circuits, optical interconnects, and copackaged electronics and photonics to deliver the speed and efficiency essential for data centers of the future.

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Editorial Advisory Board

  • Professor Andrea M. Armani, University of Southern California
  • Ruti Ben-Shlomi, Ph.D., LightSolver
  • James Butler, Ph.D., Hamamatsu
  • Natalie Fardian-Melamed, Ph.D., Columbia University
  • Justin Sigley, Ph.D., AmeriCOM
  • Professor Birgit Stiller, Max Planck Institute for the Science of Light, and Leibniz University of Hannover
  • Professor Stephen Sweeney, University of Glasgow
  • Mohan Wang, Ph.D., University of Oxford
  • Professor Xuchen Wang, Harbin Engineering University
  • Professor Stefan Witte, Delft University of Technology

This Week’s Sell-off in Bitcoin and Other Digital Currencies Held Strong.

The price of Bitcoin has remained around $21,400 for the last 24 hours.

Earlier this month, the value of the world’s most valuable digital asset fell to its lowest level since 2020. While the stock market turmoil contributed to Bitcoin’s decline, it was further worsened by the liquidation of leveraged holdings and the difficulties faced by crypto financial service providers.

For the time being, Bitcoin seems to have sketched out a bottom of roughly $18,000, according to broker Oanda’s Jeffrey Halley, thanks to the recovery in the US stock markets and the decline in US rates. Technically, a climb beyond $22,000 and a further increase to $24,000 appear probable.”

The S&P 500’s fall into a bear market this year has put more pressure on digital assets like Bitcoin, which have shown to be highly associated with other risk-sensitive assets like equities. Even while Bitcoin continues to trade at less than a third of its all-time high, a recent stock market rebound has provided some short-term comfort for crypto traders.

Only a gain over $28,000 will remove Bitcoin’s threat in the short run, Halley added.

The second-largest digital asset, Ether ETHUSD –2.72 percent, dropped 1% to $1,230. As of June 18, the Ethereum network’s underlying currency, the ERC-20, was trading for roughly $900.

Most altcoins (alternative cryptos) were losing money. Cardano ADAUSD –1.58 percent and Solana –0.5 percent both fell by 2.5 percent. A more mixed bag was DogecoinDOGEUSD +1.77 percent, which rose 9 percent, and Shiba InuSHIBUSD –2.24 percent, which fell 2.5 percent.

The post This Week’s Sell-off in Bitcoin and Other Digital Currencies Held Strong. appeared first on Best Stocks.

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