Cryptocurrency price today: The ripple effect of the stock market losing ground was felt in the cryptocurrency market on Wednesday, June 29. Globalism Cryptocurrency Today the market is down further to $908.48 billion at the time of writing, down 2.31 percent over the past 24 hours. Investors, worried about a recession, were looking for another sell-off as the impact of stock markets spread Bitcoin Into the red for another day while other cryptocurrencies followed suit. The total volume of the cryptocurrency market over the past 24 hours was $56.96 billion, representing an increase of 0.73 percent.
Markets fluctuated and stocks fell, losing their previous gains as the US Federal Reserve confirmed further interest rate hikes to counter recession fears. The renewed uncertainty had a ripple effect sending bitcoin cryptocurrencies into the red and other leading cryptocurrencies that followed suit. While this is not ideal, Bitcoin – which was recently reaffirmed as a commodity by US Securities and Exchange Commission Chairman Gary Gensler – can be a safe haven for investors to hedge against anticipated uncertainties,” the CoinDCX research team said.
Bitcoin held steady on Wednesday at the $20,000 level. At the time of writing this article, bitcoin is today at $2,0323.29, down 2.38 percent, according to data from CoinMarketCap.com.
Bitcoin has been fairly flat throughout the past day, consolidating between $20k and $21,000. On the weekly time frame, the BTC trend has formed a bearish channel pattern. The weekly RSI reached an all-time low two weeks ago and hasn’t shown any noticeable improvement since then. Another important fact is that the price of Bitcoin closed below the 200-week moving average (MA) for the second week in a row which is unheard of. Trade desk WazirX said that the 200-week moving average is currently around $22,500, and if BTC breaks that level, the key resistance will be at $32,300, otherwise the major support will be at $14,000.
On the other hand, the price of Ether today decreased slightly by 2.67 percent to stand at $1,151.24 while writing this article.
Ethereum against Bitcoin is down about 3% yesterday as the Bitcoin Dominance Index has risen slightly over the past two days. ETH-BTC daily trend is moving inside an ascending triangle pattern. The daily RSI has dropped to 40 and is approaching oversold territory. The next major support for ETH-BTC is expected at the 0.046 level and the next resistance is expected at 0.076,” WazirX Trade Desk said.
Here are the top 10 cryptocurrencies and their prices on June 29, 2022 (according to data from coinmarketcap.com)
Bitcoin $2,0323.29, or 2.38 percent gain in the last 24 hours
Ethereum $1,151.24 or 2.67 percent loss in the past 24 hours
Tie $0.9987 or 0.03 percent loss in the last 24 hours
USD Coin 1.00 USD or 0.01 percent loss in the last 24 hours
BNB $223.95 or 4.52 percent loss in the last 24 hours
Binance gains $1.00 or 0.19 percent over the past 24 hours
XRP $0.3356 or 2.44% loss in the last 24 hours
Cardano $0.4723, or 2.08 percent loss over the past 24 hours
Solana $35.47, or 5.93 percent, over the past 24 hours
Dogecoin $0.0667 or 5.17 percent loss over the past 24 hours