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Cryptocurrency price today: On Wednesday, July 13, the global cryptocurrency market continued to decline further reaching nearly $870 million, while the global sell-off continued ahead of the release of US inflation data. Bitcoin, Ether, Dogecoin, and Solana have all slipped south, with the global cryptocurrency market cap at 872.41 billion at the time of writing. This is down 1.66% over the past 24 hours.
Investors expect tighter monetary policies from the Federal Reserve after the release of CPI data by the US Bureau of Labor Statistics. If the inflation numbers continue to rise, Bitcoin may find a new lower support level that could extend the bearish sentiment in the market, said Tarusha Mittal, co-founder and COO of UniFarm. “Markets will remain volatile until there is some improvement in the macroeconomic factors surrounding the financial markets,” she added.
Bitcoin continued to stand below the $20,000 mark on the day and did not show any significant movement in the past 24 hours. Today’s Bitcoin price recorded a value of $19484.76 at 1211 IST, a decrease of 2.14 percent over the past day.
Bitcoin continued to trade below the $20,000 level without any significant movement the previous day. Trading volumes continued to remain bleak across the exchanges with a sense of fear looming throughout the market. On the 4 hour time frame, the BTC trend is inside the descending channel pattern. Bitcoin immediate support is expected to reach $17,700. “The daily RSI is trading near oversold territory,” said analysts at WazirX Trade Desk.
“Due to rising inflation, Bitcoin continued to trade below the $20,000 mark on Tuesday. The Euro dropped to its lowest level against the US Dollar yesterday in the last 20 years, and the strength of the Dollar appears to be affecting prices in the cryptocurrency market. If buyers can hold Bitcoin At the current level, we could see it go back above the $20,000 level,” added Edul Patel, co-founder of Mudrex.
Meanwhile, Ethereum prices also remained flat during the day. Today, the price of Ether is also down 2.83 percent, standing at $1,055.68 while writing this article.
“The second largest cryptocurrency, Ethereum has broken through the $1,100 level to show that the bears are stronger than the bulls. If this trend continues, we may see ETH touch the $1,000 level soon,” Patel said.
Here are the top 10 cryptocurrencies and their prices on July 13, 2022, Wednesday, (according to data from coinmarketcap.com)
Bitcoin $19,484.76 or a loss of 2.14% in the last 24 hours
Ethereum $1,055.68 or 2.83 percent loss in the last 24 hours
Tying in $0.9993 or 0.00 percent gain in the last 24 hours
USD Coin gained $1.00 or 0.00 percent in the last 24 hours
BNB $223.72 or 0.82 percent loss in the last 24 hours
Binance gains $1.00 or 0.016 percent over the past 24 hours
XRP $0.3146 or 0.44% loss in the last 24 hours
Cardano $0.4336, or a loss of 3.13 percent over the past 24 hours
Solana $33.21 or 1.77 percent loss over the past 24 hours
Dogecoin $0.06074 or 2.54 percent loss over the past 24 hours
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