Bitcoin entered the third week of June and maintained last week’s losses. The most expensive cryptocurrency, Bitcoin, was down 0.46 percent on June 19, trading at $26,395 (about 21.6 lakh rupees). Over the weekend, there were significant swings across the crypto market. The value of bitcoin rose by $902 (approximately Rs.73,955) between Friday, June 16 and Monday. Industry insiders have noted that BTC’s current trading value suggests that investor resilience has increased slightly after last week.
ether followed Bitcoin on the losing track. The second-most expensive cryptocurrency was down 0.26 percent to trade at $1,722 (about 1.4 lakh rupees). Over the weekend, Ether rose in value by $60 (about 4,920 rupees).
“The inability of the bears to potentially push BTC below $25,000 (roughly 20 lakh rupees) may have attracted the attention of optimistic investors looking to enter the market to start a recovery.” BTC’s support currently lies at the mark of USD 26,386 (approximately Rs.21 lakh rupees) while resistance is observed at USD 26,633 (approx. Rs.21.8 lakh rupees). Similarly, Ethereum mirrored Bitcoin’s performance and posted gains over the weekend,” Edul Patel, CEO of crypto investment platform Mudrex, told Gadgets 360.
Binance coin, Cardano, Tron, SolanaAnd polygon recorded losses.
avalanche, Lion, cosmos, chain linkAnd Uniswap there were price drops too.
The overall valuation of the crypto market is down 0.57 percent over the past 24 hours CoinMarketCap. The crypto market cap is $1.06 trillion (roughly 87,20,576 crore) at the time of writing.
However, stablecoins and memecoins have been able to hold onto their gains on the price charts.
connection, USD coin, rippleAnd BinanceUSD reaped profits.
The profits were also lost Dogecoin And Shiba Inu next to Litecoin, Speckle, MoneroAnd Kronos.
Meanwhile, the crypto fear and greed index has remained below 50 for the past 10 days; currently at 47, down two points from yesterday. Industry insiders are also predicting stable times for the future for well-known reasons.
“Black Rocks Entry into spot BTC ETFs is seen as a hugely positive development and has lifted investor sentiment. Binance.US and the SEC have reached an agreement that prevents the assets from being frozen in exchange for more transparency and oversight. However, no movement has yet started in the broader lawsuit. “Markets are closely watching events surrounding this lawsuit,” Parth Chaturvedi, Investments Lead, CoinSwitch Ventures, told Gadgets 360.
Cryptocurrency investors have become more cautious about who they do business with after being rocked by sudden cryptocurrency crashes last year Celsius network, Voyager Digital, FTX, and other. Many investors and crypto players also fear regulatory crackdown.
Recent bankruptcies of crypto platforms have led to this allegedly According to Xclaim, client assets locked up now stand at around US$34 billion (nearly Rs.2.78,600 crore), allowing creditors to trade in such claims.
countries like Hong Kong are accelerating efforts to bring regulatory clarity to their crypto ecosystem to entice industry participants to do business there.
“Hong Kong’s new regulations are a breathing space for US digital asset exchanges trying to gain a foothold in the Asian crypto hub. “Given the regulatory ambiguity and increasing crackdown on digital assets, Hong Kong’s capitalization on this opportunity will spark a new dynamic in crypto geography,” Rajagopal Menon, vice president of WazirX, told Gadgets 360.
Cryptocurrency is an unregulated digital currency, not legal tender and is subject to market risks. The information provided in this article is not intended to be, and does not constitute, financial advice, trading advice, or any other advice or recommendation of any kind offered or endorsed by NDTV. NDTV is not responsible for any loss arising from any investment based on a perceived recommendation, forecast or other information contained in the article.
