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Cryptocurrency Price Today: Bitcoin Plunges Below $20,000; Ether, Solana Lose Up to 7%

By: Swastika Das Sharma

News18.com

Last Updated: June 30, 2022, 12:31 IST

Crypto markets have spiralled down to their lowest in this year. (Image: Shutterstock)

Crypto markets have spiralled down to their lowest in this year. (Image: Shutterstock)

Cryptocurrency Price Today, June 30: Bitcoin price today registered a value of $19,700.31 at 1217 IST, which is a plunge of 2.23 per cent over the past day.

Cryptocurrency Price Today: The global cryptocurrency market on Thursday, June 30, fell below the $900 million mark for the second time this year amid fears of recession as the US GDP contracted 1.6 per cent in the first quarter of the year, as per a Moody’s report. The crypto coin market felt the consequences of an inflationary pressure, which resulted in investors further diving into the extreme fear zone and selling their coins. The global cryptocurrency market fell way below the $900 million mark, registering a value of $888.01 billion. This is a decrease of 1.52 per cent in the past 24 hours, as per data.

“The 3AC (Three Arrows Capital) exposure creates 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 is upward and sell during the downturn because they fear prices will fall further. The fear has started to work now, and we can expect a further meltdown in price," said Kumar Gaurav, CEO and founder of Cashaa, in a note to news18.com.

Bitcoin on the day also dipped below the $20,000 mark again 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 plunge of 2.23 per cent over the past day. On the other hand, Ethereum, the world’s second largest crypto coin was barely holding on to the $1,000 mark. Ether price today was also down by 5.01 per cent, to stand at $1,075.79 while writing this article.

“Bitcoin had dipped below $20K momentarily yesterday, before recovering back. The crypto markets remained largely unfazed by the recent liquidation of the crypto hedge fund, Three Arrows Capital(3AC). The market sentiment has not changed much either, remaining deep in the “extreme fear” zone. On the hourly time-frame, the BTC trend has formed a channel pattern, consolidating between $20K and $22K. The daily RSI is hovering around the 25 level, reeling in the oversold zone. The next key support is expected at $14,000," said the WazirX trade desk in a low.

RELATED NEWS

Here are the top 10 cryptocurrencies and their prices on June 30, 2022, Thursday, (According to data from coinmarketcap.com)

Bitcoin $19,700.31 or 2.23 per cent gain in the last 24 hours

Ethereum $1,075.79 or 5.01 per cent loss in the last 24 hours

Tether $0.9989 or 0.03 per cent gain in the last 24 hours

USD Coin $1.00 or 0.01 per cent loss in the last 24 hours

BNB $217.29 or 1.10 per cent loss in the last 24 hours

Binance USD $1.00 or 0.03 per cent gain in the last 24 hours

XRP $0.3252 or 2.76 per cent loss in the last 24 hours

Cardano $0.458 or 1.97 per cent loss in the last 24 hours

Solana $32.42 or 7.58 per cent loss in the last 24 hours

Dogecoin $0.06642 or 1.56 per cent gain in the last 24 hours

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first published:June 30, 2022, 12:31 IST
last updated:June 30, 2022, 12:31 IST