Desire for risky assets continued to decline as tech stocks in Asia experienced a capital flight of $63 billion this year. Crypto assets that usually have a strong correlation with tech stocks also fell, with bitcoin headed for its ninth consecutive weekly loss. Global growth concerns caused by rising interest rates and supply chain disruptions have been the dominant themes in investor narratives, with many leaning toward preserving capital during these volatile times. However, we remain optimistic about the cryptocurrency’s long-term growth trajectory, and the huge potential it has to revolutionize the way we live, work and play, said CoinDCX’s research team.
Bitcoin finally broke through the $30,000 levels, after weeks of being below that. The price of Bitcoin today was standing at $3,0594.73 at the time of writing this article. This was a 5.49 percent gain over the past 24 hours.
“Bitcoin is up about 3 percent since yesterday to surpass the $30K level. Bitcoin closed lower for the ninth week in a row. On the 4-hour time frame, BTC broke out of the triangle pattern. Next resistance is expected for BTC at $40,000. Bitcoin’s daily RSI rose above the 40 level for the first time since the beginning of May 22. However, market sentiment towards Bitcoin and the cryptocurrency remains in “extreme fear” territory, said WazirX’s trading desk.
The price of Ethereum today was still below $2000, but it is up 6.56 percent in the past 24 hours to stand at $1,902.85 per unit, at the time of writing this article. After a weekend of poor performance, Solana and Cardano among other cryptocurrencies gained more than 10 percent each.
“Over the weekend, cryptocurrencies also underperformed. The new Terra blockchain was launched and the price of both the LUNA Classic and LUNA 2.0 tokens plummeted. What is clear is that the crypto community remains clearly skeptical about the project’s reliability after the delinking disaster. Underground Cabinets,” said Darshan Bathija, CEO and Co-Founder of FULD.
Here are the top 10 cryptocurrencies and their prices on May 30, 2022, Monday (data from coinmarketcap.com)
Bitcoin $30,594.73 or 5.49% gain in the past 24 hours
Ethereum $1902.85 or 6.56 percent loss in the last 24 hours
Hook up $0.9992 or 0.01 percent gain in the last 24 hours
USD Coin 1.00 USD or 0.00% loss in the last 24 hours
BNB gains $319.51 or 6.27 percent in the last 24 hours
XRP $0.4012 or 4.56% gain over the past 24 hours
Binance $1.00 or 0.04 percent loss in the last 24 hours
Cardano $0.519 or 11.54 percent gain in the last 24 hours
Solana $46.86, or a 10.45 percent loss in the past 24 hours
Dogecoin $0.08575, or 5.67 percent gain in the last 24 hours