Bitcoin, Ethereum, Dogecoin Drop Further: 'Chop For Rest Of The Summer…Beggars Can't Be Choosers,' Says T

　　Cryptocurrency markets are trading in the red, with Bitcoin touching the sensitive $65,000 level and mixed opinions about future price trajectory.

　　Notable Statistics:

• 　　Coinglass liquidations data shows Bitcoin's short liquidations at the lowest since June 9. In the past 24 hours, 79,749 traders were liquidated for $207.41 million.

• 　　IntoTheBlock data shows a 9% drop in daily active addresses and a 15.8% fall in large transactions volume.

• 　　Lookonchain data notes Bitfinex Bitcoin whales reduced their long positions.

　　Notable Developments:

• 　　Arthur Hayes, Raoul Pal Predict Dogecoin ETF: ‘If People Wait In Line For Luxury Brands, They Will Trade Meme Coins Online’

• 　　Coinbase CEO Brian Armstrong Says ‘Both Parties’ Need To Address ‘Untenable’ Regulatory Situation

• 　　EXCLUSIVE: Biden Administration ‘Let The SEC Go Unchecked,’ Tether Co-Founder Says

• 　　How Donald Trump Went From Selling NFTs To Declaring Himself The ‘Crypto President’

　　Top Losers:

　　Trader Notes:ElonTradesdrew parallels between Bitcoin's current scenario to late 2020. “It retraced 15%, pumped, then retraced another 10% before liftoff.” He adds that this cycle could be a “slightly less explosive and more drawn-out cycle.”

　　Crypto analyst Wolfsees Bitcoin eyeing the $62,000 mark. “Market sentiment is expected to turn extremely bearish. They want your cheap coins.”

　　Trader Mercurynoted that Bitcoin is in a “chop for the rest of the Summer.”

　　CryptoConsays “$61,603 is the number to watch,” based on the most reliable healthy support, the 20-week EMA.