Cryptocurrency price

Cryptocurrency Price Update: Bitcoin Struggles To Stay Above $ 33,000, Ether Down More Than 7%

The cryptocurrency market was under pressure on Tuesday after rebounding slightly over the weekend. At present, virtual coins are experiencing sharp fluctuations in valuation due to a number of developments.

Bitcoin (BTC), the world’s most popular cryptocurrency, was trading at $ 33,124, down almost 4% as of 12:30 p.m. Ether (ETH) has fallen almost 7% and is struggling to stay above $ 2,000.

The entire cryptocurrency market is currently experiencing a widespread collapse, and popular altcoins such as XRP, Cardano, Dogecoin, Stellar, Uniswap, Polkadot, and Litecoin have fallen sharply.

Cryptocurrency Highlights | Consult yesterday’s prices

The new weakness in the cryptocurrency market is mainly the result of a seizure of virtual coins worth $ 408 million by UK police as part of an investigation into money laundering by criminal groups organized.

This could be a big blow to cryptocurrency trading in the UK, where the leading virtual coin exchange platform Binance is already facing a regulatory investigation.

London Police said on Tuesday that £ 180million of undisclosed cryptocurrency was seized less than three weeks after a transport of £ 114million on June 24 as part of the investigation.

“As cash remains king in the criminal world, as digital platforms develop we are seeing more and more organized criminals using cryptocurrency to launder their dirty money,” said Graham McNulty, under -deputy commissioner of the metropolitan police.

The development is expected to trigger short-term volatility in the cryptocurrency market.

Meanwhile, trading volumes on major cryptocurrency exchanges fell more than 40% in June, according to data provided by London researcher CryptoCompare.

He said spot trading volumes fell 42.7% to $ 2.7 trillion, with derivative volumes down 40.7% to $ 32 trillion.

“The headwinds continued as China persisted in its crackdown on bitcoin mining,” CryptoCompare said. “As a result of both falling prices and volatility, spot volumes have declined. “

It can be noted that Bitcoin fell more than 6% last month, reaching its lowest since January. By May, Bitcoin had fallen 35% due to China’s crackdown on the rapidly growing industry.

Commenting on the new weakness, Edul Patel, CEO and co-founder of Mudrex, a global algorithm-based cryptocurrency trading platform, said: “Cryptocurrency markets are emerging from consolidation. However, so far we are seeing a benefit booking session. “

“There was no major sales activity because the volumes traded are not huge. In addition, there has been no macroeconomic factor to provide fodder for the bears, ”he added.

Patel said most of the major cryptocurrencies were down around 5%. “BTC has passed the $ 33,000 mark. Most altcoins such as Ether, Polkadot, Solana, etc. are under selling pressure. We can expect markets to remain volatile over the next 24 hours,” he added.

Here are the latest prices and trends for popular cryptocurrencies:

Cryptocurrency

Price (US dollar)

24 hour change

Market capitalization (Billions)

Volume (24 hours)

Bitcoin

33,232.82

-3.36%

$ 623.24

$ 21.20 billion

Ether

2,022.81

-6.00%

$ 236.00

$ 16.93 billion

Dogecoin

0.205563

-5.54%

$ 26.78

$ 1.31 billion

Litecoin

132.69

-4.30%

$ 9.03

$ 1.91 billion

XRP

0.636429

-2.34%

$ 63.64

$ 1.78 billion

Cardano

1.31

-4.29%

$ 42.19

$ 1.19 billion

DISCLAIMER: Cryptocurrency prices were updated at 1:40 p.m. and will change throughout the day. The list is intended to give a rough idea of ​​popular cryptocurrency trends and to be updated daily.


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