Bitcoin retreats from $67K monthly peak to $66K as market cap drops $40B; DeXe token crashes 90% to $4.50.
Macro & Markets ·
Bitcoin climbed to a monthly peak of $67,000 before pulling back to just under $66,000, with its market cap settling at $1.320 trillion and dominance over altcoins holding above 57%. The broader crypto market shed approximately $40 billion, landing at $2.3 trillion.
DeXe's native token crashed nearly 90% to $4.50, putting the asset on the edge of exiting the top 100 altcoins by market cap. Other larger-cap alternatives including HYPE, NEAR, and ZEC also declined, though by more modest amounts.
The precise trigger for DeXe's steep collapse is not detailed in available reports. Bitcoin's recovery from lows in early July has been attributed to softer-than-expected US inflation data, but whether this relates to DeXe's move remains unclear. The speed and magnitude of the token's single-day drop suggest a concentrated liquidation event, though specifics on what sparked the selloff have not yet emerged.