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Cryptocurrency price today: The cryptocurrency market returned to the red on Tuesday, July 12, as investor sentiment remained negative against the volatility in the stock market. The global cryptocurrency market has fallen below the $900 million mark, recording a value of $877.60 billion. This represents a 3.63 percent drop in the past 24 hours, according to the data, as major cryptocurrencies, including Bitcoin and Ethereum, are down over the course of the day.
Bitcoin also fell a bit on the day again as investors refused to invest in the world’s largest cryptocurrency by market capitalization. Today’s Bitcoin price recorded a value of $19,744.64 at 1,318 IST, a decline of 0.57 percent over the past day.
“Bitcoin has plunged more than 7 percent in the past two days to fall below $20K after failing to stay above $22,000. BTC market sentiment has also weakened as fear creeps in as prices drop. On the daily time frame, BTC chart passes Inside a descending channel pattern.The daily RSI is approaching oversold territory and we can expect investors to enter again at this level.Failure to sustain its momentum above $22,000 level may cause BTC to drop further.Immediate support is expected for the currency to reach Bitcoin to $17,700,” analysts at the WazirX Trade Desk said.
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 1.01 percent, standing at $1069.40 at the time of writing this article.
“Ethereum closed in Red again yesterday, down about 6 percent. ETH tried to beat the $1280 resistance several times, but it was always met with rejection. Ethereum daily trend formed a bearish triangle pattern and is trading near support levels. RSI is down. The daily is below the 40 level and is rapidly approaching oversold territory. The immediate support for Ethereum is expected to reach $890,” the analysts said.
“The collapse of cryptocurrency is a reality that gets more and more realistic with each passing day. Moreover, it is not restricted by geographical boundaries. The list of stakeholders in the crypto space continues to grow, with the addition of newer names such as – Singapore-based Fuld (which has halted customer withdrawals) , Voyager Digital (which has filed for bankruptcy), and Hubei Thailand (the shutters closed on July 1),” said Kumar Gaurav, CEO and Founder of Cashaa.
Here are the top 10 cryptocurrencies and their prices on July 12, 2022, Tuesday (according to data from coinmarketcap.com)
Bitcoin $19.744.64 or 0.57% loss over the past 24 hours
Ethereum $1,069.40 or 1.01 percent loss in the last 24 hours
Limit 0.9992 USD or 0.01 percent loss in the last 24 hours
USD 1.00 or 0.02% loss in the last 24 hours
BNB $223.18 or 0.49 percent gain in the last 24 hours
Binance gains $1.00 or 0.03 percent over the past 24 hours
XRP $0.3109 or 1.28 percent loss in the last 24 hours
Cardano $0.4322, or 0.75 percent loss over the past 24 hours
Solana $33.48, or 0.34 percent loss over the past 24 hours
Dogecoin 0.06175 USD, or 0.47% loss in the last 24 hours
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