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The cryptocurrency market continues its bearish trend on June 12, 2024, with Bitcoin and major altcoins experiencing further declines. However, the meme coin PEPE is defying the trend, showing a significant price rally.

The prolonged bear market has cast a shadow over Bitcoin, and the recent breach below the $30,000 support level has intensified concerns about a deeper price decline. Analysts predict that a wave of Bitcoin miner capitulation could further destabilize the market, potentially driving the price as low as $62,500.

Solana (SOL), a prominent player in the cryptocurrency market, is experiencing a challenging period as its price struggles to find stable footing. The cryptocurrency has recently extended its losses below the $150 support level, indicating a bearish trend in the short term.

Leading South Korean cryptocurrency exchange, Bithumb, has announced the listing of Mask Network (MASK) for spot trading on its platform. This move provides Korean traders with direct access to MASK, a popular token known for its privacy-focused features and integration with social media platforms.

Binance, the world's leading cryptocurrency exchange by trading volume, has announced the removal of five altcoin trading pairs from its spot market. The decision, according to Binance, is part of its periodic review process aimed at maintaining a high-quality trading environment for users.

In a surprising turn of events, Litecoin (LTC) has experienced a meteoric rise in activity, surpassing both Bitcoin (BTC) and Ethereum (ETH) to become the most utilized cryptocurrency in the market. This surge in activity is reflected in the number of active addresses, a key indicator of network usage and adoption.

The Shiba Inu (SHIB) community has demonstrated its growing influence and determination by gathering over 10,000 signatures in a petition urging Grayscale Investments to list a Shiba Inu ETF. This grassroots effort highlights the increasing demand for a regulated and accessible investment vehicle for the popular meme-inspired cryptocurrency.

The Non-Fungible Token (NFT) market is experiencing a significant downturn as crypto investors redirect their attention and funds towards Bitcoin (BTC) and Ethereum (ETH) Exchange-Traded Funds (ETFs). This shift in investment focus has led to a notable decline in NFT prices and overall market activity.

Recent data reveals that Bitcoin's circulation has plummeted to its lowest point in 13 years, raising questions about its original purpose as "electronic cash." This decrease in circulation suggests a shift in how Bitcoin is being perceived and utilized by investors and users.

ntelion, a prominent Russian cryptocurrency mining firm, has announced a significant investment of $135 million into the development and application of artificial intelligence (AI) technologies. This bold move signifies the company's commitment to diversifying its operations and staying at the forefront of technological innovation.

Ethereum (ETH), the second-largest cryptocurrency by market capitalization, is experiencing a gradual decline as market pressure intensifies. The cryptocurrency has recently struggled to maintain its upward momentum, with its price slipping below key support levels.

Bitcoin (BTC), the world's leading cryptocurrency, is trading near $67,250 as the market awaits the release of crucial US Consumer Price Index (CPI) data and the Federal Reserve's interest rate decision. The CPI data is expected to shed light on the state of inflation, while the Fed's rate decision could significantly impact market sentiment.