Cryptocurrency price today: The global cryptocurrency market on Wednesday, June 8 remained volatile as market capitalization remained largely flat, with slight gains throughout the day. This came just a day after the crypto market suffered losses, with major coins like Bitcoin, Ethereum, Solana, and Cardano registering massive losses. However, on Wednesday, all of these crypto coins recovered to give the market a little boost. According to the data, the global crypto market capitalization stood at $1.25 trillion at the time of writing, increasing by 2.20% in the last 24 hours.
“The crypto market needs some relief which may come from cooling inflation and the Fed easing monetary policy and interest rates. It is important to note that the United States will release a consumer price index next Friday, June 10, which will be a litmus test for the Fed’s strategy to control inflation,” said Charles Tan, Director marketing from Atato, a licensed MPC crypto custodian. wallet.
The price of bitcoin today rose 2.64% to $30,383.97 at the time of writing, according to data from CoinMarketCap. On the other hand, Ether price stood at $1,805.04 today, jumping 2.18% in the last 24 hours.
“BTC fell close to $29,000 before seeing an upside above the $31,000 range. Some altcoins did well: LINK rallied in double digits. However, overall sentiment remained bearish said Darshan Bathija, CEO and co-founder of Vauld.
“The data indicated that most investors who made gains in the 2021 bull market are currently experiencing losses: the MVRV ratio, a measure that measures when the price is above or below “fair value”, showed that over 28% of BTC investors were in losses. That said, long-term holders will likely view this market as a time to accumulate BTC,” Bathija added.
“Overall sentiment in the crypto market is positive, even though Bitcoin dipped below the $30,000 mark before recovering the $31,000 level. There was a brief upward momentum for Bitcoin which was quickly erased, likely due to the broader sell-off in the Asian and US markets. Ether, on the other hand, slipped below $1800 due to selling pressure,” Charles Tan noted.
“Chainlink (Link) enjoyed double-digit growth and was up over 11%, signifying an influx of capital that was quickly impacted by a large sell-off today. Considering weeks of continued downtrend, it can be seen as a small spark of market resolution,” he said.
Here are the top 10 cryptocurrencies and their prices as of June 8, 2022, Wednesday (data from coinmarketcap.com)
Bitcoin $30,383.97 or 2.64% gain in the last 24 hours
Ethereum $1,805.04 or 2.18% gain in the last 24 hours
Tether $0.9995 or 0.01% gain in the last 24 hours
USD Coin $1.00 or 0.01% gain in the last 24 hours
BNB $290.23 or 3.26% gain in the last 24 hours
Cardano $0.6358 or 8.86% gain in the last 24 hours
XRP $0.3987 or 2.16% gain in the last 24 hours
Binance USD $1.00 or 0.06% gain in the last 24 hours
Solana $39.44 or 0.32% gain in the last 24 hours
Dogecoin $0.08013 or 0.15% gain in the last 24 hours
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