Cryptocurrency Price Today: The global cryptocurrency market on Saturday, June 18, continued to spiral further down the burrow as major crypto coins did not seem to recover with investors refusing to invest anymore. The crypto market cap has now fallen below the $900 billion mark, and stood at $853.11 billion at the time of writing this article, as per data from CoinMarketCap. This was down by 5.41 per cent over the past day. Investors are still in the extreme fear zone, and we have entered the bear markets at a time when the US Federal Reserve hiked interest rates sharply by 75 basis points.
“The overall crypto market cap fell below $900 billion which is a marginal drop from the last day. The total crypto market volume fell by over 14 per cent to $64bn which clearly shows the bearish sentiments in the market,” said Tarusha Mittal, COO and Cofounder, Unifarm, a group staking platform. At the time of writing this article, the crypto market volume fell to $59.01 billion over the last 24 hours, a dip of 22.90 per cent, said CoinMarketCap data.
Mittal also said that sellers will take a break if Bitcoin grips the $20,000 support level. However, Bitcoin on the day fell below the $20,000 mark, missing the support level. Bitcoin price today was standing at $19,292.81 at the time of writing this article, down by 8.61 per cent in the last 24 hours. Meanwhile, Ether price today was down by 9.65 per cent, to stand at $1,004.94 at the time of writing this article.
“If we look at the weekly performance of the two largest crypto assets, Bitcoin and Ether have fallen by almost 35 per cent and 40 per cent respectively. The investors are shifting from riskier crypto assets and parking their funds in stable coins like USDT. Tether has been trading at a premium rate since the beginning of this month in the P2P market which signals its strong demand. Altcoins like Solana and XRP surged by close to 3 per cent due to the overall mini crypto rally in the altcoin space. The markets are expected to remain choppy in the coming weeks as central banks around the world continue to take strict measures to tame inflation,” noted Mittal.