Cryptocurrency price today: The global cryptocurrency market was heading for another decline on Saturday, June 11, as major cryptocurrency coins took a hit during the day. Almost all major crypto coins, including Bitcoin, Ethereum, Cardano, Solana and others, extended their losses from the previous day to lose more value. The global cryptocurrency market stood at $1.20 trillion, down 3.19% in the past 24 hours, the data showed, with the picture remaining more negative.
Cryptocurrency prices remained volatile for another day as investors seemed undecided about attractive prices and worries about rising inflation and an economic slowdown. “We are seeing frequent bouts of short-term volatility as market participants are trading within a tight range as they are unsure how the crypto market would react to macro conditions,” said Darshan Bathija, CEO and Co-Founder of Vaud.
Bitcoin once again dipped below the $30,000 levels in the early hours of the day and remained in that position. This came after two days of stagnation for the world’s largest cryptocurrency at $30,000. Bitcoin price today fell 2.46% to $29,340.07 at the time of writing. Over the past week, Bitcoin rates have fallen by 1.13%. On the other hand, Ether price took a big hit today and stood at $1,669.92, down 6.79% in the last 24 hours.
“While BTC has moved in tandem with the equity market, its correlation with the S&P 500 Index has declined over the past month. If crypto markets can move away from correlation with traditional markets, it would be a very bullish signal. While long term holders are doubling down on their BTC investments, retail investors still remain risk averse in the current market,” Bathija said.
“With a significant amount of institutional capital continuing to flow into the crypto space, this can potentially be seen as a reversal of the negative sentiment so prevalent once. Heading into the second half of 2022, we remain bullish on crypto and Web3 adoption as the technology is continuously evolving to address existing challenges in the financial industry,” the CoinDCX research team added.
Here are the top 10 cryptocurrencies and their prices as of June 11, 2022 (According to data from coinmarketcap.com)
Bitcoin $29,340.07 or 2.46% loss in the last 24 hours
Ethereum $1,669.92 or 6.79% loss in the last 24 hours
Tether $0.9993 or 0.00% loss in the last 24 hours
USD Coin $1.00 or 0.02% gain in the last 24 hours
BNB $289.76 or 0.38% loss in the last 24 hours
Cardano $0.6094 or 2.26% loss in the last 24 hours
XRP $0.3876 or 4.49% loss in the last 24 hours
Binance USD $0.9999 or 0.13% loss in the last 24 hours
Solana $37.50 or 6.98% loss in the last 24 hours
Dogecoin $0.07625 or 3.64% loss in the last 24 hours
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