Today Cryptocurrency Price: The global cryptocurrency market continued to decline further on Wednesday, July 13 as it neared $870 million, while a global selloff continued just ahead of the release of US inflation data. Bitcoin, Ether, Dogecoin, Solana fell further in the south as the global crypto market cap stood at 872.41 billion at the time of writing this article. It was down 1.66 per cent in the last 24 hours.
Investors are expecting tighter monetary policies from the Fed after the US Bureau of Labor Statistics released CPI data. If the inflation numbers continue to rise, Bitcoin may find a new lower support level which could add to the bearish sentiment in the market,” said Tarusha Mittal, Co-Founder and COO of Uniform. “Unless there is some improvement in the macroeconomic factors surrounding financial markets, the market will remain volatile,” he added.
Bitcoin remained below $20,000 for the day and did not show any significant movement in the last 24 hours. Bitcoin price today recorded a price of $19,484.76 at 1211 IST, which is a decrease of 2.14 percent as compared to the previous day.
“Bitcoin continued to trade below the $20K level for the past day without any significant volatility. Trading volumes remained severe across exchanges with a feeling of fear throughout the market. On the 4-hour time frame, BTC trended Is trending within a descending channel pattern. Immediate support for bitcoin is expected at $17,700. Daily RSI is trading close to the oversold zone,” said analysts at WazirX Trade Desk.
“Due to rising inflation, bitcoin continued to trade below the $20,000 level on Tuesday. The euro fell to its lowest level in the past twenty years against the US dollar yesterday, and the strengthening of the dollar is affecting prices in the crypto market. If buyers can hold BTC at current levels, we could see it bounce back above the $20,000 level,” said Edul Patel, co-founder of Mudrex.
Meanwhile, the price of Ethereum also remained stable on the day. Ether was also down 2.83 percent today at $1,055.68 at the time of writing this article.
“Ethereum, the second largest cryptocurrency, broke the $1,100 level, indicating that the bears are more powerful than the bulls. If this trend continues, we could see ETH touching the $1,000 level soon Let’s see,” Patel said.
Here are the top 10 cryptocurrencies and their prices as of Wednesday, July 13, 2022 (according to data from coinmarketcap.com)
Bitcoin Lost $19,484.76, or 2.14 Percent in the Last 24 Hours
Ethereum Lost $1,055.68, or 2.83 Percent in the Last 24 Hours
Tether is up $0.9993 or 0.00 percent in the last 24 hours
USD coin up by $1.00 or 0.00 percent in last 24 hours
BNB lost $223.72, or 0.82 percent, in the last 24 hours
Binance USD up $1.00 or 0.016 percent in last 24 hours
XRP Lost $0.3146 or 0.44 percent in the last 24 hours
Cardano lost $0.4336 or 3.13 percent in the last 24 hours
Solana has lost $33.21 or 1.77 percent in the last 24 hours.
Dogecoin Loss $0.06074 or 2.54 percent in the last 24 hours
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