By: Swastika Das Sharma
Last Updated: July 06, 2022, 12:00 IST
Bitcoin price today was standing at just above $20,000 at the time of writing this article
Cryptocurrency Price Today: After a short-lived rebound, the cryptocurrency market was back in the red zone on Wednesday, July 6 as investor sentiments remained negative against a volatility in the stock market. The global cryptocurrency market fell to stay just above $900 million mark, registering a value of $901.98 billion. This is a decrease of 1.60 per cent in the past 24 hours, as per data, as major crypto coins fell over the day.
Bitcoin on the day also dipped slightly again as investors refused to invest in the world’s largest cryptocurrency by market value. Bitcoin price today registered a value of $20,082.28 at 1151 IST, which is a plunge of 1.24 per cent over the past day.
“Bitcoin has been in a consolidation phase for nearly 3 weeks, bouncing between $18K and $22K levels. Meanwhile, June’22 saw the largest outflow of Bitcoin ever in a month. Onchain data indicated that over 150,000 BTC’s 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,” said analysts at WazirX trade desk.
On the other hand, Ethereum, the world’s second largest crypto coin was barely holding on to the $1,100 mark. Ether price today was also down by 2.10 per cent, to stand at $1,133.64 while writing this article.
“Ethereum against Bitcoin has remained fairly flat in the last 4 weeks or so. Bitcoin’s dominance too has changed much in the past ten odd 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.,” noted the analysts.
“Major cryptocurrencies traded low on Tuesday. Bitcoin was seen changing hands at US$19,000 after trading between a day high and low. BTC has been struggling to hold above US$20,000 from the past two months. 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. The volatility in the market continues as bears look stronger than the bulls,” said Edul Patel, CEO and co founder of Mudrex.
Here are the top 10 cryptocurrencies and their prices on July 6, 2022, Wednesday, (According to data from coinmarketcap.com)
Bitcoin $20,082.28 or 1.24 per cent loss in the last 24 hours
Ethereum $1,133.64 or 2.10 per cent loss in the last 24 hours
Tether $0.999 or 0.01 per cent loss in the last 24 hours
USD Coin $1.00 or 0.02 per cent loss in the last 24 hours
BNB $232.61 or 0.90 per cent loss in the last 24 hours
Binance USD $1.00 or 0.11 per cent loss in the last 24 hours
XRP $0.3235 or 0.96 per cent loss in the last 24 hours
Cardano $0.4568 or 2.36 per cent loss in the last 24 hours
Solana $35.76 or 0.34 per cent loss in the last 24 hours
Dogecoin $0.06742 or 2.42 per cent loss 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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