Bitcoin Slides Below $62K, Dragging Down Crypto Market as Momentum Slows

• Bitcoin fell below $62,500 while ether held just above $3,000 and the CoinDesk 20 index of major cryptocurrencies dropped 8% • Bitcoin's price momentum has weakened according to the Bitcoin Trend Indicator, though upside potential remains if BTC holds above $59,000 • Some altcoins like dogecoin, Ethena Labs' ENA token, and Immutable X's IMX took double-digit hits over 24 hours • OKX exchange launched its X Layer layer-2 blockchain using Polygon's technology, joining other exchanges pursuing layer-2 solutions • Mining stocks have underperformed bitcoin this year, but mining CEOs remain optimistic about the impending bitcoin halving reducing supply inflation