Today Cryptocurrency Price: The global cryptocurrency market was volatile on Wednesday, June 8, as the market capitalization remained largely flat, with modest gains throughout the day. This came just a day after the crypto market suffered huge losses in major coins such as Bitcoin, Ethereum, Solana and Cardano. However, on Wednesday all these crypto coins recovered to give a slight push to the market. According to the data, global crypto market The cap stood at $1.25 trillion at the time of writing this article, an increase of 2.20 percent over the past 24 hours.
“The crypto market needs some relief that could come from the cooling of inflation and the easing of monetary policy and interest rates by the Fed. It is important to note that the US will release a consumer price index this coming Friday (June 10). which will be a litmus test for the Fed’s strategy to combat inflation,” said Charles Tan, chief marketing officer at Atato, a licensed MPC crypto custodian wallet.
According to data from CoinMarketCap, the price of bitcoin is up 2.64 percent today to $30,383.97 at the time of writing this article. On the other hand, Ether was priced at $1,805.04 today, jumping 2.18 percent over the past 24 hours.
“BTC declined near the $29,000 level and rose above the $31,000 range. Some altcoins did well: LINK rallied in double digits. However, overall sentiment remains bearish,” said CEO of Wald and co-founder Darshan Bathija said.
“The data indicates that most investors who made gains in the 2021 bull run are currently facing losses: the MVRV ratio, a metric that measures when prices are above or below “fair value.” That said, over 28% of BTC investors were in losses. Having said that, long-term holders may look at this market as a time to accumulate BTC,” Bathija said.
“The overall sentiment in the crypto market is on the positive side even as bitcoin fell below the $30,000 mark and reclaimed the $31,000 level. The selloff was quickly erased. On the other hand, selling pressure caused Ether to drop below $1800,” said Charles Tan.
“ChainLink (LINK) saw double-digit growth and was up over 11% – reflecting some capital inflows that were soon impacted by the broad sell-off today. Given weeks of continued decline, it should be viewed as a challenge to the market’s resolve.” Can be considered as a small spark,” he said.
Here are the top 10 cryptocurrencies and their prices as of Wednesday, June 8, 2022 (data from coinmarketcap.com)
Bitcoin is up $30,383.97, or 2.64 percent, in the last 24 hours
Ethereum up $1,805.04 or 2.18 percent in the last 24 hours
Tether is up $0.99995, or 0.01 percent, in the last 24 hours
USD coin up by $1.00 or 0.01 percent in last 24 hours
BNB is up $290.23 or 3.26 percent in the last 24 hours
Cardano is up $0.6358 or 8.86 percent in the last 24 hours
XRP is up $0.3987 or 2.16 percent in the last 24 hours
Binance USD up $1.00, or 0.06 percent in the last 24 hours
Solana $39.44 or 0.32 percent increase over the last 24 hours
Dogecoin is up $0.08013 or 0.15 percent in the last 24 hours
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