Cryptocurrency Price Today: A ripple effect of stock markets losing gains was felt at the cryptocurrency market on Wednesday, June 29. The global cryptocurrency market on the day fell further down to $908.48 billion at the time of writing this article, down by 2.31 per cent over the past 24 hours. Investors, worried about recession, were looking for another selloff as the ripple effect from the stock markets sent Bitcoin to the red zone for another day while other crypto coins followed suit. The total cryptocurrency market volume over the last 24 hours was standing at $56.96 billion, which makes a 0.73 per cent increase.
“Markets wavered and stocks fell, losing earlier gains as the US Federal Reserve affirmed more rate hikes to counter recession fears. The renewed uncertainties had a ripple effect on crypto sending Bitcoin down to the reds and other leading cryptocurrencies following suit. While this is not ideal, Bitcoin — recently reaffirmed as a commodity by the US Securities and Exchange Commission’s Chair Gary Gensler — could potentially be a safe haven for investors to hedge against the anticipated uncertainties,” said the CoinDCX research team.
Bitcoin remained flat on Wednesday at the $20,000 mark. At the time of writing this article, Bitcoin price today was standing at $20,323.29, down by 2.38 per cent, as per data from CoinMarketCap.com.
“Bitcoin remained fairly flat throughout the last day, consolidating between $20K and $21K. On the weekly timeframe, the BTC trend has formed a descending channel pattern. The weekly RSI had hit an all time low a couple of weeks back and hasn’t shown any significant improvement since then. Another crucial fact is that the BTC price has closed below the 200-week Moving Average(MA) for the second week in a row which is unheard of. The 200-week MA is currently at around $22,500 and if BTC breaks this level, then the key resistance will be at $32,300 else the key support would be at $14,000,” said the WazirX trade desk.
On the other hand, Ether price today was however slightly down by 2.67 per cent, to stand at $1,151.24 while writing this article.
“Ethereum against Bitcoin dropped by nearly 3% yesterday as the Bitcoin Dominance index gained marginally over the last couple of days. The daily trend for ETH-BTC is traversing within an ascending triangle pattern. The daily RSI dropped to 40 edging closer to the oversold zone. The next key support for ETH-BTC is expected at 0.046 level and next resistance is expected at 0.076,” said the WazirX trade desk.
Here are the top 10 cryptocurrencies and their prices on June 29, 2022, (According to data from coinmarketcap.com)
Bitcoin $20,323.29 or 2.38 per cent gain in the last 24 hours
Ethereum $1,151.24 or 2.67 per cent loss in the last 24 hours
Tether $0.9987 or 0.03 per cent loss in the last 24 hours
USD Coin $1.00 or 0.01 per cent loss in the last 24 hours
BNB $223.95 or 4.52 per cent loss in the last 24 hours
Binance USD $1.00 or 0.19 per cent gain in the last 24 hours
XRP $0.3356 or 2.44 per cent loss in the last 24 hours
Cardano $0.4723 or 2.08 per cent loss in the last 24 hours
Solana $35.47 or 5.93 per cent loss in the last 24 hours
Dogecoin $0.0667 or 5.17 per cent loss in the last 24 hours