Bitcoin (BTC), the world’s oldest and most valued cryptocurrency, stays on its downward path and dips under the $68,000 mark early Tuesday. Different widespread altcoins — together with the likes of Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Solana (SOL), and Litecoin (LTC) — landed within the reds throughout the board as the general Market Concern & Greed Index stood at 60 (Greed) out of 100, as per CoinMarketCap knowledge. The Injective (INJ) token emerged to be the largest gainer, with a 24-hour bounce of over 9 %. Notcoin (NOT) grew to become the largest loser, with a 24-hour dip of over 14 %.
The worldwide crypto market cap stood at $2.46 trillion on the time of writing, registering a 24-hour dip of two.55 %.
Bitcoin (BTC) Value In the present day
Bitcoin value stood at $67,774.70, registering a 24-hour dip of two.37 %, as per CoinMarketCap. In keeping with Indian change WazirX, BTC value stood at Rs 60.33 lakh.
Ethereum (ETH) Value In the present day
ETH value stood at $3,535.82, marking a 24-hour dip of three.64 % on the time of writing. As per WazirX, Ethereum value in India stood at Rs 3.18 lakh.
Dogecoin (DOGE) Value In the present day
DOGE registered a 24-hour lack of 2.26 %, as per CoinMarketCap knowledge, at the moment priced at $0.1411. As per WazirX, Dogecoin value in India stood at Rs 12.71.
Litecoin (LTC) Value In the present day
Litecoin noticed a 24-hour dip of 1.63 %. On the time of writing, it was buying and selling at $78.18. LTC value in India stood at Rs 6,960.95.
Ripple (XRP) Value In the present day
XRP value stood at $0.4866, seeing a 24-hour lack of 1.90 %. As per WazirX, Ripple value stood at Rs 43.49.
Solana (SOL) Value In the present day
Solana value stood at $153.92, marking a 24-hour dip of three.04 %. As per WazirX, SOL value in India stood at Rs 13,690.
Prime Crypto Gainers In the present day (June 11)
As per CoinMarketCap knowledge, listed below are the highest 5 crypto gainers over the previous 24 hours:
Injective (INJ)
Value: $29.54
24-hour achieve: 9.54 %
Gnosis (GNO)
Value: $349.16
24-hour achieve: 8.85 %
Akash Community (AKT)
Value: $4.41
24-hour achieve: 5.50 %
Oasis (ROSE)
Value: $0.118
24-hour achieve: 2.74 %
Flare (FLR)
Value: $0.02774
24-hour achieve: 2.10 %
Prime Crypto Losers In the present day (June 11)
As per CoinMarketCap knowledge, listed below are the highest 5 crypto losers over the previous 24 hours:
Notcoin (NOT)
Value: $0.05199
24-hour loss: 14.05 %
Wormhole (W)
Value: $0.5522
24-hour loss: 13.09 %
Mantra (OM)
Value: $0.9984
24-hour loss: 8.01 %
JasmyCoin (JASMY)
Value: $0.03573
24-hour loss: 6.90 %
Ethena (ENA)
Value: $0.7412
24-hour loss: 6.83 %
What Crypto Exchanges Are Saying About Present Market State of affairs
Mudrex co-founder and CEO Edul Patel advised ABP Reside, “Bitcoin is at the moment consolidating across the $68,000 stage following current liquidations. Buyers and merchants are intently watching the Federal Reserve’s upcoming press convention and the discharge of CPI knowledge, each scheduled for tomorrow. Bears are trying to push the worth under $68,000, however bulls may have interaction in robust shopping for at this stage. The following help stage for BTC is at $67,400, whereas resistance is at $68,600.”
Parth Chaturvedi, Head of Investments, CoinSwitch Ventures, mentioned, “BTC didn’t breach the all time highs, and fell by 2%. This exhibits that the market sentiment within the close to brief time period. An evaluation nonetheless from 2011 costs until now exhibits that BTC has in actual fact given a 104% CAGR beating each the US Inventory Market and Warren Buffett’s portfolio in returns. The broader altcoin market is displaying a downward pattern. The just lately launched memecoin NOT suffered probably the most with it being 14% down as folks booked earnings out of the TON’s prime memecoin. One other well-known memecoin, PEPE was down 9% as effectively with 24 hr general crypto market liquidations reaching greater than 150 million {dollars} as per the info from coinglass.”
Rajagopal Menon, Vice President, WazirX, mentioned, “Bitcoin (BTC) is going through intense stress, dragging altcoins to new lows. Presently priced at $68,197, BTC has dropped 2.21% within the final 24 hours. The battle to surpass all-time highs is linked to a slowdown in stablecoin minting post-halving. Nevertheless, a head-and-shoulders formation in BTC may quickly break the resistance line, probably pushing its value towards $83,000 within the close to time period.”
Sathvik Vishwanath, CEO and co-founder of Unocoin, mentioned, “The tip of the US-Saudi petrodollar settlement on June 9, 2024 marks a major shift in world monetary dynamics that Bitcoin might profit from. As Saudi Arabia explores options such because the Chinese language RMB, euros and digital currencies, the transfer may cut back reliance on the US greenback and increase inflation. Bitcoin, with its fastened provide and decentralized nature, might turn out to be the popular hedge towards inflation. As conventional fiat currencies devalue, Bitcoin’s attractiveness as an funding may improve, resulting in long-term appreciation. Buying and selling at $69,600 with resistance at $70,100, Bitcoin futures look bullish if it stays above the $69,100 pivot level.”
Shivam Thakral, CEO of BuyUcoin, mentioned, “The Bitcoin-led funding exercise added over $1.97 billion in inflows whereas Ethereum witnessed its finest efficiency since March by including virtually $70 million in inflows as per the info from Coinshares. The current dip in costs has sparked shopping for exercise primarily from institutional buyers as digital asset prepares for his or her subsequent bull run. The regulatory developments and constructive macroeconomic components might result in larger momentum within the second half of 2024.”
CoinDCX Analysis Staff advised ABP Reside, “Within the final 24 hours, the crypto market continued to slip down. BTC touched $68,000 whereas ETH dipped under $3,600. Altcoins additionally noticed vital drops. This week might be vital and extremely unstable for the crypto market because of the upcoming FOMC conferences and U.S. CPI and PPI bulletins. Technically, the pattern is bearish within the decrease time-frame, however within the greater time-frame, it stays bullish.”
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Disclaimer: Crypto merchandise and NFTs are unregulated and may be extremely dangerous. There could also be no regulatory recourse for any loss from such transactions. Cryptocurrency just isn’t a authorized tender and is topic to market dangers. Readers are suggested to hunt skilled recommendation and browse supply doc(s) together with associated vital literature on the topic rigorously earlier than making any type of funding in any way. Cryptocurrency market predictions are speculative and any funding made shall be on the sole value and threat of the readers.
