Bitcoin at $29,500, Ether, Cardano Tracking Sharp Losses; List here
Cryptocurrency price today: On Tuesday, June 7, Bitcoin, Ethereum and almost all other major cryptocurrencies wiped out their gains the day before to land in the red once again as big losses tracked. The market situation, with all its consequences, once again proved to be still volatile even as stock markets rose during the start of the week. The data showed that the global cryptocurrency market was standing at $1.22 trillion, down 4.72 percent over the past 24 hours, as the situation remained volatile. Cryptocurrency prices remained unstable for another day as investors seemed hesitant regarding attractive prices, concerns about rising inflation as well as an economic slowdown.
“Crypto endured a volatile session, as Bitcoin surged to highs at $31,700 before tumbling 7.2% to $29,400. ‘Buy on dip’ sentiment remains strong, as addresses with over 1 BTC in balance surge to all-time highs At 849,000 amid relatively flat price movement, this could indicate that there are more people who are dealing with cryptocurrencies and looking to accumulate cryptocurrencies, and are likely to use BTC as a store of value and a hedge against inflation in the long term, rather than short-term speculation. Despite the general weakness in the markets, we remain optimistic about the resumption of the bull market, provided the macroeconomic picture improves significantly for the better,” the CoinDCX research team said.
After a few days of enjoying the glory of the $30K and $31,000 hack, the world’s largest cryptocurrency Bitcoin on Tuesday plunged again to $29K levels. Bitcoin is down 5.53 percent today to stand at $29,475.68 at the time of writing, according to data from CoinMarketCap.
“Bitcoin price corrected 6 percent and fell below $30,000 after a slight rally that saw BTC rise above $31,000, yesterday. Crypto markets responded positively yesterday as the dollar index (DXY) chart indicated resistance. However, this rally was short-lived and the crypto markets quickly turned red and Bitcoin dropped below 30K within a few hours.Bitcoin daily trend continues to cross the descending triangle pattern BTC immediate support is expected to reach $26,800,” the WazirX Commerce Bureau said.
“After nine consecutive weeks of underperformance, BTC started the week on an optimistic note. It is up 1.9 percent in the past 24 hours, trading near the $30,000 level. Another bullish indicator is Darshan Bateja, CEO and co-founder of Fold,” said Darshan Bateja, CEO and co-founder of Fold. How much is the exchange outflow: Bitcoin prices leaving exchanges soar,” as Bitcoin breached the $31,000 mark on Monday.
Meanwhile, the price of Ether today was at $1,753.02, down 6.33 percent over the past 24 hours. Other altcoins like Cardano and Solana have been trading at 6 percent lower prices in the past 24 hours, as of writing this article, while BNB is down more than 8 percent over the same time frame. “Binance Coin (BNB) has been in a downtrend since the last couple of days as the US Securities and Exchange Commission launched an investigation against Binance’s native token. The commission is investigating Binance Holdings Ltd. in connection with a breach of US securities law,” WazirX Trading Bureau noted.
Here are the top 10 cryptocurrencies and their prices on June 7, 2022 (according to data from coinmarketcap.com)
Bitcoin $29,475.68 or 5.53% loss in the last 24 hours
Ethereum $1,753.02 or 6.33 percent loss in the past 24 hours
$0.9995 or 0.02 percent credit in the last 24 hours
USD Coin 1.00 USD or 0.01 percent loss in the last 24 hours
BNB $281.21 or 8.33% loss in the last 24 hours
Cardano $0.5843, or 6.09 percent loss over the past 24 hours
XRP 0.3912 USD, or 2.33 percent loss in the last 24 hours
Binance $1.00 or 0.07 percent loss in the last 24 hours
Solana $39.01 or 6.84 percent loss in the last 24 hours
Dogecoin 0.07958 USD, or a loss of 3.94 percent in the last 24 hours
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