Cryptocurrency Price Today: The global cryptocurrency market was headed for another dip on Saturday, June 11, as major cryptocurrencies took a hit during the day. Nearly all major cryptocurrencies, including Bitcoin, Ethereum, Cardano, Solana and others, extended the previous day’s losses to lose more value. The global cryptocurrency market stood at $1.20 trillion, down 3.19 percent in the past 24 hours, data showed, as the situation remained on the negative side.
Cryptocurrency prices remained volatile for another day as investors seemed undecided about attractive prices and worries about rising inflation and an economic slowdown. “We are seeing frequent short-term swings in volatility as market participants trade within a narrow range as they are unsure of how the crypto market would react to macroeconomic conditions,” said Darshan Bathija, Vauld CEO and co-founder.
Bitcoin plunged below $30,000 again during the early hours of the day and remained in that position. This came after two days in which the world’s largest cryptocurrency was flat at $30,000. Bitcoin price is down 2.46 percent today to $29,340.07 at the time of writing this article. Bitcoin prices have fallen by 1.13 percent in the past week. On the other hand, Ether price took a sharp blow today and stood at $1,669.92, down 6.79 percent in the past 24 hours.
“While BTC moves with the stock market, its correlation with the S&P 500 index has declined over the past month. If the crypto markets are no longer correlated with the traditional markets, that would be a very optimistic signal. While long-term holders are doubling their BTC investments, private investors in today’s market still remain risk averse,” said Bathija.
“With a significant amount of institutional capital continuing to flow into the crypto space, this could potentially be seen as a reversal of the negative sentiment that was once so pervasive. In the second half of 2022, we remain optimistic about crypto and web3 adoption as technology continues to evolve to address existing challenges in the financial sector,” the CoinDCX research team added.
Here are the top 10 cryptocurrencies and their prices as of June 11, 2022 (according to data from coinmarketcap.com)
Bitcoin $29,340.07 or 2.46 percent loss in the last 24 hours
Ethereum $1,669.92 or 6.79 percent loss in the last 24 hours
Tether $0.9993 or 0.00 percent loss in the last 24 hours
USD Coin $1.00 or 0.02 percent gain in the last 24 hours
BNB $289.76 or 0.38 percent loss in the last 24 hours
Cardano $0.6094 or 2.26 percent loss in the last 24 hours
XRP $0.3876 or 4.49 percent loss in the last 24 hours
Binance USD $0.9999 or 0.13 percent loss in the last 24 hours
Solana $37.50 or 6.98 percent loss in the last 24 hours
Dogecoin $0.07625 or 3.64 percent loss in the last 24 hours
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