“Appetite for risky assets continued to decline with Asia-based technology stocks seeing a $63 billion capital flight this year. Crypto assets, which typically have a high correlation with tech stocks, also plummeted, with bitcoin heading for its ninth consecutive weekly loss. Concerns about global growth, fueled by rising interest rates and supply chain disruptions, have been dominant themes in investor stories, with many leaning towards capital preservation in these volatile times. That said, we remain optimistic about the longer-term growth trajectory of crypto and the immense potential it holds to revolutionize the way we live, work and play,” the CoinDCX research team said.
Bitcoin has finally crossed the $30,000 level, after being below it for weeks. Today’s Bitcoin price stood at $30,594.73 at the time of writing this article. This was a gain of 5.49 percent in the past 24 hours.
Bitcoin is up nearly 3 percent since yesterday to break above the $30K level. Bitcoin has closed lower for the 9th straight week. On the 4-hour timeframe, the BTC trend has broken out of the triangle pattern. The next resistance for BTC is expected to hit $40,000.The daily RSI for Bitcoin has surged above 40 for the first time since early May 22. However, market sentiment for Bitcoin and crypto remains in the zone of “extreme fear,” according to the WazirX trading desk.
The Ethereum price was still below $2,000 today, but gained 6.56 percent in the past 24 hours to reach $1,902.85 per unit at the time of writing this article. After a weekend of underperformance, Solana and Cardano, among other altcoins, gained more than 10 percent each.
“Over the weekend, altcoins also underperformed. Terra’s new blockchain was launched and the price of both LUNA Classic and LUNA 2.0 tokens fell. What is clear is that the crypto community is still visibly skeptical about the reliability of the project after the UST De-pegging debacle,” said Darshan Bathija, CEO and co-founder of Vauld.
Here are the top 10 cryptocurrencies and their prices as of May 30, 2022, Monday (data from coinmarketcap.com)
Bitcoin $30,594.73 or 5.49 percent gain in the last 24 hours
Ethereum $1,902.85 or 6.56 percent loss in the last 24 hours
Tether $0.9992 or 0.01 percent gain in the last 24 hours
USD Coin $1.00 or 0.00 percent loss in the last 24 hours
BNB $319.51 or 6.27 percent gain in the last 24 hours
XRP $0.4012 or 4.56 percent gain in the last 24 hours
Binance USD $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 10.45 percent loss in the last 24 hours
Dogecoin $0.08575 or 5.67 percent gain in the last 24 hours
Read all the latest news, breaking news and IPL 2022 Live Updates here.