Today Cryptocurrency Price: The global cryptocurrency market continued its decline on Friday, July 1 as it remained in the red zone for four consecutive days. Recession concerns and inflationary pressures have set the most crypto coins On a volatile mode, especially after a report concluded that the US economy contracted 1.6 percent in the first quarter of this year. This has worried investors trying to sell their coins, the stock market is also volatile, while they do not want to invest in any more risky assets.
The global cryptocurrency market dropped below the $900 million mark early Friday. Data from CoinMarketCap shows that at the time of writing this article, the cryptocurrency market capitalization stood at $873.11 billion, down 1.89 percent from the previous day. On the other hand, the total crypto market volume stood at $75.89 billion in the last 24 hours, an increase of 23.26 percent over the last 24 hours – indicating a selloff.
On that day, Bitcoin also fell below the $20,000 mark after recovering from the previous day. Bitcoin price today recorded a price of $19,398.55 at 1152 IST, a decrease of 2.83 percent as compared to the previous day.
“Bitcoin fell below $19K over the past day and bounced back above $20,000. Meanwhile, BTC balances on exchanges have hit critically low levels, according to data from Galsnod. This is a sign that bitcoin investors and more Whales are hoarding and hodling on their coins despite falling prices. This is a bullish signal that could eventually lead to a trend reversal. The daily trend for BTC is moving within a descending triangle pattern. Next major Support is expected at $14,000,” said WazirX Trade Desk.
Meanwhile, Ether price remained flat today and barely hanged above the $1,000 mark for two consecutive days. At the time of writing this article, Ethereum was priced at $1,053.43, down 3.03 percent over the past 24 hours.
“Ethereum is down by over 6% against Bitcoin since the beginning of this week as the Bitcoin Dominance Index continues to rise over the past few days. The daily trend of ETH-BTC is trending within an ascending triangle pattern. The daily RSI declined below 40 near the oversold zone. The next major support for ETH-BTC is expected at the 0.046 level and the next resistance is expected at 0.076,” said WazirX Trade Desk.
Here are the top 10 cryptocurrencies and their prices as of Friday, July 1, 2022 (according to data from coinmarketcap.com)
Bitcoin up $19,398.55at or 2.83 percent in last 24 hours
Ethereum lost $1,053.43, or 3.03 percent in the last 24 hours
Tether Lost $0.9989, or 0.01 Percent in the Last 24 Hours
USD coin loss of $1.00 or 0.01 percent in last 24 hours
BNB is up $218.74, or 0.63 percent, in the last 24 hours
Binance USD $0.9999 or 0.19 percent loss in the last 24 hours
XRP Lost $0.3166 or 2.65 percent in the last 24 hours
Cardano lost $0.4521 or 2.10 percent in the last 24 hours
Solana $32.69 or 0.30 percent increase in last 24 hours
Dogecoin lost $0.06498 or 3.24 percent in the last 24 hours
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