Cryptocurrency Price Today: The cryptocurrency market on June 2, Thursday, plunged yet again after seeing a ray of hope over the past few days, imitating stock market trends. Major cryptocurrencies, including Bitcoin, corrected themselves and as a result wiped off all gains they made a few days ago. The global cryptocurrency market was standing at $1.24 trillion, down by 4.26 per cent over the past 24 hours, as the situation remained volatile.
“The South Korean government will be forming a Digital Assets Committee, targeted as early as this month, to oversee the digital assets market. Specific parameters of the committee include providing criteria for the listing of coins by exchanges, introducing investor protections measures and monitoring unfair trading. This is a welcome move for the industry in bringing greater regulatory clarity to the space. Not only is it a necessary step for digital assets to reach mainstream adoption, it also represents a great opportunity for the crypto industry to mature and truly flourish," said the CoinDCX research Team.
Bitcoin plunged below the $30,000 levels again during early hours, but later managed to move past the mark. Bitcoin price today fell by 4.61 per cent to stand at $30,139.37 at the time of writing this article. On the other hand, Ether price today was standing at $1,836.98, falling by 5.23 per cent over the past 24 hours.
“Bitcoin corrected by nearly 6% yesterday dropping below the $30K level once again. BTC had made minor recovery in the last couple of days rallying above $32K but the momentum did not last long as the Dollar index regained some lost ground. The daily trend for Bitcoin continues to traverse within a descending triangle pattern," noted the WazirX trade desk.
“The next resistance for BTC is expected at $40,000 and an immediate support is expected at $26,800. Bitcoin needs to break past the $40K level to witness any significant upward rally. Until then BTC may continue to consolidate between the $28K to $40K," it said.
“With the US equities enduring another day of retracement, the crypto markets followed a similar path. With the high correlation between BTC and the S&P 500 index, the odds of traders remaining bullish on cryptocurrencies was lower," said Darshan Bathija, CEO and co founder of Vauld.
“The market is performing in correlation with global markets. Major newly L1 coins like Solana and Avax are 80-90% down from their ATH as they were bought purely based on speculation during the bull market, and we see investors getting out of those positions. We have to wait for that trigger point to see it all going green again," said Om Malviya, president of Tezos India.
Here are the top 10 cryptocurrencies and their prices on June 1, 2022 ( According to data from coinmarketcap.com)
Bitcoin $30,139.37 or 4.61 per cent loss in the last 24 hours
Ethereum $1,836.98 or 5.23 per cent loss in the last 24 hours
Tether $0.9993 or 0.00 per cent loss in the last 24 hours
USD Coin $1.00 or 0.03 per cent gain in the last 24 hours
BNB $305.07 or 3.63 per cent loss in the last 24 hours
Cardano $0.5816 or 4.09 per cent loss in the last 24 hours
XRP $$0.398 or 4.28 per cent loss in the last 24 hours
Binance USD $0.9998 or 0.20 per cent loss in the last 24 hours
Solana $40.32 or 9.72 per cent loss in the last 24 hours
Dogecoin $0.0816 or 6.21 per cent loss in the last 24 hours