Crypto Price Today: Bitcoin Fails to Post Notable Gains with Most Altcoins Hit by Losses

The crypto market is going through a phase of volatility with most altcoins undergoing a price correction. On Tuesday, June 11, Bitcoin recorded a loss of up to 1.95% on domestic and international exchanges. On Indian exchanges like CoinSwitch and WazirX, Bitcoin is hovering around the price of $72,653 (around Rs. 60.6 lakh). Meanwhile, the asset is trading at $68,049 (around Rs. 56.8 lakh) on overseas platforms like CoinMarketCap. The majority of other cryptocurrencies fell behind Bitcoin on the loss-making side of the cryptocurrency chart on Tuesday.

Ether recorded a loss of less than one percent in the last 24 hours. At the time of writing, Ether is trading at $3,233 (roughly Rs. 2.70 lakh) on Indian exchanges, while its price on international exchanges stands at $3,560 (roughly Rs. 2 .97%).

“The recent price decline has triggered buying activity primarily from institutional investors as digital assets prepare for their next bull run. Regulatory developments and positive macroeconomic factors could lead to greater momentum in the second half of 2024,” Shivam Thakral, CEO of BuyUcoin told Gadgets360. “Investment activity led by Bitcoin added over $1.97 billion (approximately Rs. 16,448 crore) in inflows, while Ethereum saw its best performance since March by adding nearly 70 million dollars (around Rs. 584 crore) in inflows as per Coinshares data.”

Attached, Solana, Ripple, Dogecoin, CardanoAnd Shiba Inu recorded losses alongside Bitcoin and Ether.

These were joined by avalanche, Peas, Chain link, Close protocol, PolygonAnd Cosmos.

The overall crypto market cap fell by 2.36% in the last 24 hours. With this, the sector’s valuation currently stands at $2.49 trillion (approximately Rs. 2,07,90,379 crore), according to data from CoinMarketCap shown Tuesday.

Only a handful of cryptocurrencies have managed to make gains. These included Binance Coin, USD Coin, Tron, LeoAnd Iota.

“The broader altcoin market is showing a downward trend. The recently launched memecoin was NOT the one that suffered the most, dropping 14% as people booked profits on the top memecoin in the TON. Another famous memecoin, PEPE, was also down 9%, with overall 24-hour crypto market liquidations reaching over $150 million (roughly Rs. 1,252.00 crore) according to Coinglass data,” CoinSwitch Markets Desk told Gadgets360.

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