Crypto markets proceed to wrestle to draw new buyers whilst some restoration was witnessed on Tuesday. In the final 24 hours, the worldwide cryptocurrency market cap decreased to $905 billion, falling 0.61% over the day whereas Bitcoin traded close to $20,000. Prices of many of the prime cryptos fell after surging for a number of hours yesterday, based on CoinMarketCap information on the time of writing (10.49 am, India time).
The international crypto market quantity during the last 24 hours elevated 19.5% to $67 billion. The whole quantity in DeFi was $5.8 billion, representing 8.65% of the whole crypto market 24-hour quantity. The quantity of all stablecoins was $61.16 billion, 91% per cent of the whole crypto market 24-hour quantity.
Bitcoin (BTC) dominance elevated by 0.02 per cent to 42.41%. BTC’s value fell 0.45% within the final 24 hours. At the time of writing, BTC was buying and selling at $20,155. In the final 7 days, the BTC value has fallen by 0.62%
Bitcoin exits exchanges
“Bitcoin has been in a consolidation phase for nearly 3 weeks, bouncing between $18,000 and $22,000 levels. Meanwhile, June 2022 saw the largest outflow of Bitcoin ever in a month. Onchain data indicated that over 150,000 BTCs exited centralized exchanges in the last month. On the weekly timeframe, the BTC chart has formed a descending triangle pattern. The weekly RSI has been at its lowest phase hovering around the 25 level. The next resistance is expected at $32,300 and the next key support is expected at $14,000,” analysts at WazirX Trade Desk shared in a notice with FE Online.
Ethereum stays flat
“Ethereum against Bitcoin has remained fairly flat in the last 4 weeks or so. Bitcoin’s dominance has also changed much in the past 10 days, hovering just above 43%. The monthly chart for ETH-BTC has formed an ascending triangle pattern, making higher lows and is currently trading at the support levels. The daily RSI is fairly at a healthy level of nearly 50. The next key support for ETH-BTC is expected at 0.046 level and next resistance is expected at 0.076,” the analysts stated.
Volatility continues
The volatility out there is predicted to proceed as bears look stronger than the bulls.
“Bitcoin traded at US$19,000 on Tuesday as bulls started liquidating their positions. BTC is down by nearly 71% from its all-time high and 57% down from the beginning of the year. At the same time, Ethereum is also down by 70% on its year-to-date loss. BTC has been struggling to stay above US$20,000 consistently for the past two months. If bulls can make a move to keep BTC above this level, we might see some good price action. Overall, the volatility in the market continues as bears look stronger than the bulls,” Edul Patel, CEO and Co-founder of crypto funding platform Mudrex stated.
Crypto Rupe Index Change
Crypto Rupee Index (CRE8) by CoinSwitch elevated round 2.67% within the final 24 hours to Rs 2352 on the time of writing. CRE8 tracks crypto market efficiency in INR.
Top Crypto Prices on July 6
Ethereum (ETH): Ethereum value fell round 1% to $1139 within the final 24 hours. In the final 7 days, ETH value has decreased by 0.82%. It is at the moment ranked because the 2nd largest crypto asset.
Binance (BNB): Binance Chain coin’s value elevated 0.67% to $234 within the final 24 hours. In the final 7 days, BNB value has elevated by 4.75%. It is at the moment ranked because the fifth largest crypto asset.
XRP: XRP coin’s value decreased by 0.86% to $0.3239 within the final 24 hours. In the final 7 days, XRP value has decreased by 3.51%. It is at the moment ranked because the seventh largest crypto.
Solana (SOL): Solana value elevated 0.66% to $35.96 within the final 24 hours. In the final 7 days, SOL value has elevated by 1.33%. It is at the moment ranked because the ninth largest crypto asset.
Cardano (ADA): Cardano token’s value decreased by 1.82% to $0.4577 within the final 24 hours. In the final 7 days, ADA value has decreased by 3.17%. It is at the moment ranked as eighth largest crypto asset.
Dogecoin’s (DOGE) value decreased by 2.51% within the final 24 hours. DOGE is at the moment ranked tenth when it comes to market capitalisation. The value of DOGE on the time of this report was $0.06748.
Price of Polkadot (DOT) decreased by 2.7% to $6.85. Avalanche (AVAX) value elevated round 3.23% to $18.43 within the final 24 hours. Both DOT and AVAX are at the moment ranked twelfth and seventeenth respectively on CoinMarketCap.
Polygon (Matic) value decreased by round 2% to $0.5111 within the final 24 hours. In the final 7 days, MATIC value has fallen by 3.22%. It is at the moment ranked 18th on CoinMarketCap.
Shiba Inu (SHIB) fell practically 4 per cent within the final 24 hours to $0.00001036. It is at the moment ranked 14th on CoinMarketCap.
(Cryptos and different digital digital property are unregulated in India. They are thought of extraordinarily dangerous for funding. Please seek the advice of your monetary advisor earlier than making any funding resolution)
Source: www.financialexpress.com”