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Bitcoin drops below $20,000; Ether and Solana lose up to 7%

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Cryptocurrency price today: On Thursday, June 30, the global cryptocurrency market plunged below $900 million for the second time this year amid recession fears as US gross domestic product shrank 1.6 percent in the first quarter of the year, according to a Moody’s report. The crypto currency The market felt the consequences of inflationary pressure, which led to investors diving further into the area of ​​extreme fear and selling their coins. Globalism Cryptocurrency The market fell below $900 million, recording a value of $888.01 billion. That’s a 1.52 percent drop in the past 24 hours, according to the data.

“Exposure to 3AC (Three Arrows Capital) creates a panic that other hedge funds are collapsing by creating more pressure to sell. Most retail investors go against the basic principle of investing. Instead of buying low and selling high, they buy when it is The market is bullish and they are selling during a downturn because they fear prices will fall further. “The fear is starting to work now, and we can expect further price crashes,” said Kumar Gaurav, CEO and founder of Cashaa, in a note to news18.com.

Bitcoin on the day also fell below the $20,000 mark again as investors refused to invest in the world’s largest cryptocurrency by market capitalization. Today’s bitcoin price recorded a value of $19,700.31 at 1217 IST, a decrease of 2.23 percent over the past day. On the other hand, Ethereum, the second largest cryptocurrency in the world, was barely holding the $1,000 mark. Today, the price of Ether is also down 5.01 percent, standing at $1075.79 while writing this article.

“Bitcoin dropped below $20,000 for a moment yesterday, before recovering again. Crypto markets remained largely unfazed by the recent liquidation of crypto hedge fund Three Arrows Capital (3AC). Market sentiment has not changed much either, as Remaining deep in the “extreme fear” zone. On the hourly time frame, the Bitcoin trend has formed a channel pattern, consolidating between $20K and $22,000.The daily RSI is hovering around the 25 level, teetering in the oversold territory. Next major support is $14,000.”

Here are the top 10 cryptocurrencies and their prices as of June 30, 2022, Thursday, (according to data from coinmarketcap.com)

Bitcoin $19,700.31 or 2.23% gain over the past 24 hours

Ethereum $1,075.79 or 5.01 percent loss in the last 24 hours

Restrict $0.9989 or 0.03 percent in the last 24 hours

USD Coin 1.00 USD or 0.01 percent loss in the last 24 hours

BNB $217.29 or 1.10 percent loss in the last 24 hours

Binance gains $1.00 or 0.03 percent over the past 24 hours

XRP $0.3252 or 2.76 percent loss in the last 24 hours

Cardano $0.458 or 1.97 percent loss in the last 24 hours

Solana $32.42 or 7.58 percent loss in the last 24 hours

Dogecoin $0.06642 or 1.56 percent over the past 24 hours

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