Original | Odaily Planet Daily
Author | Nan Zhi
On June 7th, BTC started to fall after almost touching the $72,000 mark, dropping only $3 short. There was only one rebound on June 12th, rising from $66,000 to $70,000 before continuing to decline.
In a market where prices are plunging drastically, it is often possible to test which tokens have the most “bottoming” value or are the strongest, including those that are most resistant to decline and rebound the fastest. Odaily Planet Daily divided the market trends of nearly ten days into the first decline on June 7th, the second decline on June 11th, the first rebound on June 12th, and the overall market trends of the past ten days, analyzing and summarizing data on 252 tokens on the Binance spot trading platform (excluding stablecoins and gold synthetic tokens) in terms of the two aspects mentioned above, and drew the following conclusions:
June 7th, First Decline
In the days leading up to June 7th, only BTC was rising while most tokens had already started to decline, although not simultaneously. Therefore, this section starts counting from 8:00 on June 8th, when BTC began to significantly decline.
Among the most resistant tokens, tokens related to “Justin Sun” continued to occupy multiple positions, along with tokens like HIGH, BTC, and ETH that performed well during this period.
Most tokens on the list of biggest decliners are well-known, so they will not be listed here. The focus will be on whether there will be a rebound later.
June 11th, Second Decline
After three days of sideways movement, Bitcoin led all tokens in a new round of decline. The time span covered in this section is from 0:00 on June 11th to 0:00 on June 12th.
It can be seen that tokens related to Justin Sun still dominate the list of most resistant tokens. The token HIGH, which had the smallest decline in the first round of decline, became the biggest decliner, losing its purchasing value in the short term. Additionally, all tokens on the list of biggest decliners have shown some changes, indicating that at least 20 tokens have become weaker.
June 12th, First Rebound
The day after the second round of decline, Bitcoin led the market in a rebound. The time span covered in this section is from 0:00 on June 12th to 0:00 on June 13th.
LPT proved itself through the rebound, and other tokens like NOT and UNI also appeared on both the biggest decliners list and the rebound list.
On the other hand, tokens like HIGH, PEOPLE, and OM continued to show weak performance, with the biggest declines and smallest rebounds.
Summary of Ten-Day Market Trends
Based on the lowest prices in the past ten days calculated from 8:00 on June 7th, the maximum decline was determined. The rebound magnitude was calculated based on the lowest price and the closing price at 2:00 today. The data is as follows:
HIGH emerged as the weakest token in this round, with other tokens like AEVO, CKB, and SATS consistently appearing on the list of biggest decliners.
NOT, CRV, and UNI showed strong resilience, but there were no visible consistently strong currencies except for BTC.
