Cryptocurrency Price Today: The global cryptocurrency market remained below the $1 trillion mark on Wednesday, June 15, as bears tightened their grip on it. A major global sell-off and anticipation of a rate hike by the US Federal Reserve has prompted investors to lower their risk appetite, the effect of which can be felt in the cryptocurrency market, with major coins, including Bitcoin and Ethereum, shedding values to hit new lows. year. The global cryptocurrency market stood at $935 billion and declined 3.68 percent over the course of the day.
“The crypto market saw another rough start to the week as most crypto assets traded in the red at the top. The total crypto market cap plunged below the 1 trillion mark and the total crypto volume in the past day was $151 billion. Panic was likely triggered by a leading crypto lending platform announcing the shutdown of most services such as withdrawals amid the market crash, which likely contributed to a crypto asset sell-off,” said Charles Tan, Chief Marketing Officer, Atato.
“Prior to the US Fed’s decision to raise interest rates, most markets were in the red. Many market participants now expect a 75 basis point hike and will likely be listening closely to how the Fed plans to move forward,” said Darshan Bathija, Vauld CEO and co-founder.
“Glassnode data also shows that exchange inflows have increased over the past two days; again, this indicates anxious market sentiment as most investors are selling and exiting the markets,” Bathija added.
Bitcoin fell again that day to its lowest level since December 2020, trading at $21,000 after nearly two years. Bitcoin price fell 6.92 percent today and stands at $21,219.49 at the time of writing this article. Meanwhile, Ether price fell 7.97 percent to $1127.57 today
at the time of writing this article.
BTC price has been hovering around the 22K region after a tumultuous last few days in which Bitcoin fell more than 20% and the Dollar Index (DXY) rose to 106. The daily trend for BTC has now formed a bearish channel pattern after the breaking its previous support. The next major support for Bitcoin is expected at $19,000. Interestingly, the BTC trend has reached a key support level on the 200-week moving average curve. Historically this has only happened 3 times before and the markets have started an upward trend after this event with a few weeks of consolidation,” noted the WazirX trading desk.
Here are the top 10 cryptocurrencies and their prices as of June 15, 2022 (according to data from coinmarketcap.com)
Bitcoin $21,219.49 or 6.92 percent loss in the last 24 hours
Ethereum $1,127.57 or 7.97 percent loss in the last 24 hours
Tether $0.9987 or 0.02 percent loss in the last 24 hours
USD Coin $1.00 or 0.00 percent gain in the last 24 hours
BNB $211.22 or 6.43 percent loss in the last 24 hours
Binance USD $1.00 or 0.03 percent loss in the last 24 hours
Cardano $0.461 or 5.07 percent loss in the last 24 hours
XRP $0.3037 or 4.66 percent loss in the last 24 hours
Solana $28.04 or 7.43 percent loss in the last 24 hours
Polkadot $7.21 or 2.20 percent loss in the last 24 hours
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