Cryptocurrency Price Today: The global cryptocurrency market fell below the $900 million mark for the second time this year on Thursday, June 30, amid fears of a recession as US GDP shrank 1.6 percent in the first quarter of the year, according to a report from Moody’s. The cryptocurrency market felt the effects of inflationary pressures, prompting investors to dive further into the extreme fear zone and sell their coins. The global cryptocurrency market fell well below the $900 million mark and registered a value of $888.01 billion. According to data, this is a decrease of 1.52 percent in the past 24 hours.
“The exposure to 3AC (Three Arrows Capital) is causing the panic that other hedge funds are crashing by creating more pressure to sell. Most retail investors go against the basic principle of investing. Instead of buying low and selling high, they buy when the market rises and sell during the downturn because they fear prices will fall further. The fear is now starting to work and we can expect a further fall in prices,” said Kumar Gaurav, CEO and founder of Cashaa, in a note to news18.com.
Bitcoin also plunged back below $20,000 on the day as investors refused to invest in the world’s largest cryptocurrency by market value. Bitcoin price today registered a value of $19,700.31 at 1217 IST, which is a 2.23 percent plunge in the past day. On the other hand, Ethereum, the world’s second largest cryptocurrency, barely held the $1,000 mark. Ether price also fell 5.01 percent today, to $1,075.79 as of the writing of this article.
“Bitcoin briefly dipped below $20K yesterday before recovering. Crypto markets have been largely unaffected by the recent liquidation of crypto hedge fund Three Arrows Capital (3AC). Market sentiment hasn’t changed much either and remains deep in the “extreme fear” zone. On the hourly timeframe, the BTC trend has formed a channel pattern, consolidating between $20K and $22K. The daily RSI is hovering around the 25 level and is teetering in the oversold zone. The next major support is expected at $14,000,” the WazirX trading desk said at an all-time low.
Here are the top 10 cryptocurrencies and their prices as of June 30, 2022, Thursday, (according to data from coinmarketcap.com)
Bitcoin $19,700.31 or 2.23 percent gain in the last 24 hours
Ethereum $1,075.79 or 5.01 percent loss in the last 24 hours
Tether $0.9989 or 0.03 percent gain in the last 24 hours
USD Coin $1.00 or 0.01 percent loss in the last 24 hours
BNB $217.29 or 1.10 percent loss in the last 24 hours
Binance USD $1.00 or 0.03 percent gain in the last 24 hours
XRP $0.3252 or 2.76 percent loss in the last 24 hours
Cardano $0.458 or 1.97 percent loss in the last 24 hours
Solana $32.42 or 7.58 percent loss in the last 24 hours
Dogecoin $0.06642 or 1.56 percent gain in the last 24 hours
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