Cryptocurrencies remained under pressure on Tuesday as the price of Bitcoin, the world’s most popular virtual coin, fell below $ 30,000 for the first time since June 22.
Most virtual coins struggle for more than a week to register gains due to higher exits and bearish market momentum. According to data released Monday by digital asset manager CoinShares, Bitcoin investment products and funds posted exits for the second week in a row.
Bitcoin’s outflows reached $ 10.4 million in the week ended July 16 after outflows of $ 6.9 million the week before. The reason behind the higher exits is cautious investor sentiment amid increasing volatility.
Cryptocurrency Highlights | Consult yesterday’s prices
The world’s most popular virtual coin was trading at $ 29,671.81, down 6.63% at 11:15 a.m. Bitcoin’s market cap fell to $ 556 billion.
Ether, the second largest cryptocurrency, was under pressure as it fell nearly 9% and was trading below $ 1,800. All other popular altcoins fell in the range of 8-14%, signaling widespread weakness in the cryptocurrency market.
NEXT 24 HOURS CRUCIAL
Commenting on the weakness of the cryptocurrency market, Edul Patel, CEO and co-founder of Mudrex, a global algorithm-based cryptocurrency trading platform, said: “The past 24 hours have witnessed a massive sell-off across the cryptocurrency spectrum “.
“The largest crypto by market cap, Bitcoin, has broken its crucial support level of $ 30,000. It is currently hovering around the $ 29,600 mark. With this Bitcoin price drop, panic immediately started through. altcoins, ”he added.
Patel also pointed out that major altcoins have suffered double-digit losses in the past 24 hours. Popular altcoins such as Polkadot, Matic, Cardano, Solana registered over 10%. Lacking sufficient buyers, markets continued to decline throughout the day. The next 24 hours will be crucial for cryptocurrencies “, did he declare.
Here are the latest prices and trends for popular cryptocurrencies:
|
Cryptocurrency |
Price (US dollar) |
24 hour change |
Market capitalization (Billions) |
Volume (24 hours) |
|
Bitcoin |
29,721.02 |
-6.66% |
$ 557.57 |
$ 22.33 billion |
|
Ether |
1,752.71 |
-8.37% |
$ 204.65 |
$ 18.20 billion |
|
Dogecoin |
0.164656 |
-8.51% |
$ 21.47 |
$ 1.32 billion |
|
Litecoin |
106.56 |
-11.45% |
$ 7.26 |
$ 1.50 billion |
|
XRP |
0.530790 |
-9.59% |
$ 53.07 |
$ 1.66 billion |
|
Cardano |
1.06 |
-10.64% |
$ 34.26 |
$ 1.14 billion |
WARNING: Cryptocurrency prices were updated at 11:30 am and will change as the day progresses. The list is intended to give a rough idea of popular cryptocurrency trends and to be updated daily.
