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Cryptocurrency rate today: On Friday, July 1, the global cryptocurrency market continued to decline as it remained in the red for four consecutive days. Fears of recession and inflationary pressure were the most specific Cryptocurrencies In a volatile situation, especially after a report concluded that the US economy contracted by 1.6 percent in the first quarter of this year. Investors, worried about this, are trying to sell their currencies, with the stock markets also volatile, while also not looking to invest in any riskier assets.
The global cryptocurrency market surged below the $900 million mark early Friday. At the time of writing this article, the cryptocurrency market capitalization was $873.11 billion, down 1.89 percent from the previous day, data from CoinMarketCap showed. On the other hand, the total volume of the cryptocurrency market over the past 24 hours was $75.89 billion, which is an increase of 23.26 percent over the past 24 hours — indicating a sell-off.
Bitcoin also fell on the day below the $20,000 mark again after recovering the day before. Today’s bitcoin price recorded a value of $1,9398.55 at 1,152 IST, a decrease of 2.83 percent over the past day.
“Bitcoin price dropped below $19,000 in the past day before recovering back above $20,000. Meanwhile, the balance of BTC on exchanges has reached a very low level according to Galssnode data. It is an indication that bitcoin investors and whales are accumulating and feeding on the Their currencies are despite the price decline. This is a bullish signal that may eventually lead to a trend reversal. The daily trend of BTC is moving inside a descending triangle pattern. The next major support is expected at $14,000.”
Meanwhile, today’s Ether price has remained flat and has barely hovered above the $1,000 mark for two consecutive days. At the time of writing this article, the price of Ethereum is standing at $1053.43, a decrease of 3.03 percent over the past 24 hours.
“Ethereum is down more than 6% since the beginning of this week as Bitcoin Dominance continues to rise in the past two days. ETH-BTC daily trend is moving within an ascending triangle pattern. The daily RSI has dropped below 40 and is approaching oversold territory. The next major support for ETH-BTC is expected at 0.046 and the next resistance is expected at 0.076”, added WazirX Trade Desk.
Here are the top 10 cryptocurrencies and their prices on July 1, 2022, Friday, (according to data from coinmarketcap.com)
Bitcoin $19398.55, or 2.83 percent gain in the last 24 hours
Ethereum $1,053.43 or 3.03 percent loss in the last 24 hours
Tie $0.9989 or 0.01 percent loss in the last 24 hours
USD Coin 1.00 USD or 0.01 percent loss in the last 24 hours
BNB $218.74 or 0.63 percent gain in the last 24 hours
Binance $0.9999, or 0.19 percent loss in the last 24 hours
XRP $0.3166 or 2.65 percent loss in the last 24 hours
Cardano $0.4521, or a 2.10 percent loss in the past 24 hours
Solana $32.69 or 0.30 percent gain in the last 24 hours
Dogecoin 0.06498 USD, or 3.24 percent loss in the last 24 hours
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