News
Bitcoin remains below $68,000 while the most important coins see a bloodbath
Bitcoin (BTC), the world’s oldest and most valued cryptocurrency, failed to surpass the $68,000 mark early Wednesday. Other popular altcoins — including Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Solana (SOL), and Litecoin (LTC) — ended up in the red across the board as the overall market fear and greed index he remained standing. to 56 (Neutral) out of 100, according to CoinMarketCap data. Memecoin PEPE was the biggest gainer, jumping more than 11% in 24 hours. ORDI became the biggest loser, with a 24-hour decline of nearly 10%.
At the time of writing, the global cryptocurrency market capitalization stood at $2.45 trillion, down 0.88% over 24 hours.
Bitcoin (BTC) price today
According to CoinMarketCap, the price of Bitcoin stood at $67,380.03, recording a decline of 0.83% in the 24 hours. According to Indian exchange WazirX, the price of BTC stood at Rs 60.35 lakh.
Ethereum (ETH) price today
At the time of writing, ETH price stood at $3,517.76, marking a 1.25% drop in 24 hours. According to WazirX, the price of Ethereum in India stood at Rs 3.16 lakh.
Dogecoin (DOGE) price today
DOGE posted a 24-hour loss of 1.30%, according to CoinMarketCap data, currently valued at $0.1394. According to WazirX, the price of Dogecoin in India was Rs 12.55.
Litecoin (LTC) price today
Litecoin recorded a decline of 0.58% in the 24 hours. As of this writing, it was trading at $77.25. The price of LTC in India stood at Rs 6,937.
Ripple (XRP) price today
XRP price settled at $0.4816, recording a loss of 1.15% in the 24-hour period. According to WazirX, Ripple price stood at Rs 43.15.
Solana (SOL) Price today
Solana’s price settled at $150.85, marking a decline of 2.19% in 24 hours. According to WazirX, the SOL price in India stood at Rs 13,555.01.
Top cryptocurrency gains today (June 11)
According to CoinMarketCap data, here are the five biggest cryptocurrency gains in the last 24 hours:
Pepper (PEPPER)
Price: $0.00001293
Earnings over 24 hours: 11.04%.
Bon (Bonk)
Price: $0.00002803
Earnings over 24 hours: 7.94%.
Ondo (ONDO)
Price: $1.26
Stacks (STX)
Price: $2.21
Earnings over 24 hours: 4.27%.
Kaspa (KAS)
Price: $0.1648
Earnings over 24 hours: 4.08%.
Top cryptocurrency losers today (June 11)
According to CoinMarketCap data, here are the top five cryptocurrency losers over the past 24 hours:
ORDER (ORDER)
Price: $51.02
Loss in 24 hours: 9.40%.
Akash Network (AKT)
Price: $4.03
Loss in 24 hours: 8.01%.
dYdX (native) DYDX
Price: $1.68
Loss in 24 hours: 5.63%.
FLOKI (FLOKI)
Price: $0.0002351
Loss in 24 hours: 5.53%.
Chiliz (CHZ)
Price: $0.1181
Loss in 24 hours: 5.48%.
What cryptocurrency exchanges are saying about the current market scenario
Mudrex co-founder and CEO Edul Patel told ABP Live: “Bitcoin fell to a three-week low at the $66,170 level on Tuesday on increased liquidations. However, it has since consolidated at the $67,000 level dollars ahead of the key US inflation report and Federal Reserve meeting scheduled for today. The next immediate support lies at $67,100 and resistance at $67,700. On the other hand, Ethereum is also trading similarly to Bitcoin which is trading at the $3,400 level.”
CoinSwitch Markets Desk noted: “With all eyes on the US CPI data and Fed interest rate decision today, the cryptocurrency market has already taken a hit with Bitcoin holding at $66,000. As the market does not expect rate cuts in the US, any sign of a rate cut could push the market into bullish territories once again In altcoin news, Polygon Community Treasury has pledged 1 billion tokens in the next 10 years. years to incentivize builders to build on the Polygon blockchain with Season 1 consisting of the distribution of around $22 million for the same. Given that MATIC underperforms other crypto assets, this could give the project a much-needed boost .”
Sathvik Vishwanath, CEO and co-founder of Unocoin, said: “Bitcoin (BTC/USD) is trading near $67,250 as the market awaits key US economic data. Core CPI is expected to remain stable at 0 .3%, while the headline CPI is expected to increase by 0.1%. These numbers influence the Fed’s monetary policy. Higher inflation can lead to an increase in interest rates, which can have a negative impact on Bitcoin. Conversely, lower inflation could support bitcoin. Key is the Fed rate announcement and FOMC projection at 6pm. Bitcoin is currently slightly bearish, trading at $67,262, with key support at 65,985. $ and resistance at $69,174. A buy position is recommended above $65,985 with a target of $69,174.”
Shivam Thakral, CEO of BuyUcoin, said: “Financial markets around the world, including the digital asset market, are preparing for crucial inflation data and the US Fed meeting on Wednesday, which could determine the interest rate decision by the US Fed. The cryptocurrency market witnessed a marginal decline with BTC slipping below the $68,000 mark while Ethereum changed hands below the $3600 level at the time of writing. If the Fed decides to cut the interest rate after encouraging inflation data, we can expect an upward trajectory in the overall cryptocurrency market.”
CoinDCX’s research team told ABP Live: “Over the past 24 hours, the cryptocurrency market has continued to decline as investors and traders await key US economic data: CPI and Fed funds rate (both to be announced today) and PPI (to be announced Tomorrow). Technically, BTC fell below a key support level, but has rebounded, currently hovering around that level. Today’s daily close will also be crucial critical support of $3500. If it loses this support, it could fall to the $3200 level. The ETH/BTC pair is at a key support/resistance reversal level. If BTC rises slightly, it is likely that ETH and other altcoins outperforms BTC.”
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Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any losses arising from such transactions. Cryptocurrency is not legal tender and is subject to market risks. Readers are advised to seek expert advice and carefully read the offering documents along with relevant relevant literature on the subject before making any type of investment. Cryptocurrency market forecasts are speculative and any investments made will be at the sole cost and risk of the readers.