By: Swastika Das Sharma
Last Updated: June 27, 2022, 15:47 IST
Bitcoin breached the $21,000 mark after days this weekend.
Cryptocurrency Price Today: The global cryptocurrency market on Monday, June 27, remained largely flat after rebounding over the weekend and inching closer to regain the $1 trillion mark label. The International Monetary Fund expects the US economy to “narrowly avoid” recession this year and the next, after the US Federal Reserve rate hike, which has rekindled the hopes of investors. The crypto market, which imitates the stock markets, have rebounded on this note. On Monday, the global cryptocurrency market stood at $961.84 billion, slightly down by 0.29 per cent over the past 24 hours.
“Crypto has been trending in the greens since Bitcoin and Ethereum made sizeable recoveries over the weekend. Leading cryptocurrencies and meme coins made a phenomenal recovery, with some making double-digit percentage gains. Now trading above the US$21K mark, Bitcoin is holding strong as the International Monetary Fund expects the US economy to “narrowly avoid” recession this year and the next, following the rollout of the US Federal Reserve’s hawkish policies to curb inflation,” said the CoinDCX research team.
Bitcoin price today inched slightly up by 0.19 per cent in the past 24 hours to trade at $21,449.30 at the time of writing this article, data from CoinMarketCap showed.
“Bitcoin remained fairly neutral throughout the last week, bouncing between $20K and $22K and closing about 3% higher. The weekly volume saw more buyers entering the market at the current price level. The market sentiment has improved significantly, but still remains in the “extreme fear” zone as small investors continued to accumulate Bitcoin,” said the WazirX trade desk. An immediate resistance is expected at the $32,300 level and a key is expected at $14,000, it said.
Meanwhile, world’s second largest crypto coin, Ethereum too remained comfortably at the $1,200 mark on the day. Ether price today was however slightly down by 0.53 per cent, to stand at $1,232.92 while writing this article, as per data from CoinMarketCap.
“Ethereum against Bitcoin has closed in green for 2 weeks in succession. The last week saw ETH-BTC gaining close to 4% with Bitcoin’s Dominance index dropping to 43%. The monthly chart for ETH-BTC has formed an ascending triangle pattern, making higher lows. The daily RSI is moving close to the neutral level. The next key support for ETH-BTC is expected at 0.046 level and next resistance is expected at 0.076,” added the WazirX trade desk.
Here are the top 10 cryptocurrencies and their prices on June 27, 2022, Monday (According to data from coinmarketcap.com)
Bitcoin $21,449.30 or 0.19 per cent gain in the last 24 hours
Ethereum $1,232.92 or 0.53 per cent loss in the last 24 hours
Tether $0.9994 or 0.00 per cent loss in the last 24 hours
USD Coin $1.00 or 0.03 per cent loss in the last 24 hours
BNB $240.03 or 0.49 per cent gain in the last 24 hours
XRP $0.3647 or 0.46 per cent loss in the last 24 hours
Binance USD $1.00 or 0.16 per cent loss in the last 24 hours
Cardano $0.5076 or 1.35 per cent loss in the last 24 hours
Solana $40.94 or 0.45 per cent gain in the last 24 hours
Dogecoin $0.07799 or 11,34 per cent gain in the last 24 hours
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About the Author
Swastika Das Sharma, Subeditor at News18.com, has been part of digital media since 2020. She has completed her post-graduation from Asian College of J…Read More
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By: Swastika Das Sharma