Zcash (ZEC), Hyperliquid (HYPE) tokens lead losses as traders bet against a bitcoin (BTC) price bounce
Summary
Crypto markets are weakening ahead of key U.S. inflation data expected to show May consumer prices at a three-year high above 4%. Risk aversion is visible across major tokens: zcash (ZEC) and Hyperliquid’s HYPE fell more than 10% in 24 hours, while ADA, ONDO, and BCH dropped over 4%. The CoinDesk 20 Index declined 3%. Bitcoin slipped below $61,500, erasing most of Sunday’s rebound above $64,000 on some exchanges, and is now trading below its 200-week simple moving average, a closely watched technical level. Some analysts see that breakdown as a bearish signal, with historical trading around the 200-week average implying the market could remain under pressure for an extended period.
