Crypto Markets Budge Little, Bear Trend Shows Scant Signs of Reversal

Crypto markets are seeing little momentum today, June 28, as data from Coin360 shows, with price fluctuations of within a 2 percent range among all of the major cryptocurrencies.

Bitcoin is trading around $6,099 at press time, down just a fraction of a percentage point over the 24-hour period.

The analyst conceded that "It's going to be tough" to realize Fundstrat co-founder Tom Lee's prediction that Bitcoin will reach $25,000 in 2018.Top altcoin Ethereum is trading around $436 to press time, up a little under one percent over the past 24 hours.

Among the top twenty cryptocurrencies listed on Coinmarketcap, anonymity-oriented altcoin Monero is continuing its recovery from losses earlier this month, seeing a consistent several-day uptick and gaining around 3 and a half percent on the day.

Total market capitalization of all cryptocurrencies is at around $246 billion at press time, significantly down from its figure just shy of $287 billion a week ago.

In an exclusive interview with Cointelegraph today, Changpeng Zhao, the CEO and founder of Binance, appeared unfazed by falling crypto prices and trade volumes through 2018, noting that "Markets always overreact," both when things are going well, and when things cool off.

Zhao said that he's seen examples of the current bear trend "Many times, five or six times on a yearly cycle."

For its part, Binance is set to imminently launch a crypto-fiat exchange in Uganda, eyeing the wider African markets.

Today, hacked South Korean crypto exchange Bithumb lowered the estimated amount of money lost in its high-profile June 19 hack - from around $31 million to $17 million.

The news - which followed upon another security breach at a much more minor Korean exchange, Coinrail - has loomed over the markets.