Today Cryptocurrency Price: Following the trend of the stock market over the past few days, the cryptocurrency market once again fell after seeing a glimmer of hope on Thursday, June 2. Major cryptocurrencies including bitcoin corrected themselves and as a result wiped out all the gains they made a few days ago. The global cryptocurrency market stood at $1.24 trillion, down 4.26 percent over the past 24 hours, as the situation remained volatile.
“The South Korean government will set up a digital assets committee targeted earlier this month to oversee the digital asset market. Specific parameters of the committee include providing criteria for listing coins by exchanges, introducing investor protection measures, and unfair trade practices. This is a welcome step for the industry to bring more regulatory clarity to the space. It is not only a necessary step for digital assets to reach mainstream adoption, it is also a step towards the maturing and growing of the crypto industry. It also represents a great opportunity to really flourish,” said the CoinDCX research team.
In the early hours, Bitcoin again fell below the $30,000 level, but later managed to cross this mark. The price of bitcoin is down 4.61 percent today to $30,139.37 at the time of writing this article. On the other hand, Ether was priced at $1,836.98 today, down 5.23 percent over the past 24 hours.
“Bitcoin corrected almost 6% yesterday, falling once again below the $30K level. BTC had moderately corrected to rally above $32K over the past few days, but this momentum did not last long as the dollar index has gained some lost ground. The daily trend for bitcoin continues within a descending triangle pattern,” said the WazirX Trade Desk.
“The next resistance for BTC is expected at $40,000 and immediate support is expected at $26,800. Bitcoin needs to break the $40K level to see any significant growth. May continue to consolidate between $40K,” it said.
“With another day of US stocks retracement, crypto markets followed a similar path. With the high correlation between BTC and the S&P 500 index, traders were less likely to be bullish on cryptocurrencies,” said CEO of Wold. and co-founder Darshan Bathija said.
“The market is performing in correlation with the global markets. Major new L1 coins like Solana and Awax are down 80-90% from their ATH because they were bought purely based on speculation during bull markets, and we see investors exiting those positions. “We will have to wait for that trigger point so that it all turns green again,” said Tezos India President Om Malviya.
Here are the top 10 cryptocurrencies and their prices as of June 1, 2022 (according to data from coinmarketcap.com)
Bitcoin lost $30,139.37 or 4.61 percent in the last 24 hours
Ethereum lost $1,836.98, or 5.23 percent in the last 24 hours
Tether $0.9993 or 0.00 percent loss in the last 24 hours
USD coin up by $1.00 or 0.03 percent in last 24 hours
BNB has lost $305.07, or 3.63 percent, in the last 24 hours
Cardano lost $0.5816 or 4.09 percent in the last 24 hours
XRP Loses $0.398, or 4.28 percent, in the last 24 hours
Binance USD $0.9998 or 0.20 percent loss in last 24 hours
Solana lost $40.32 or 9.72 percent in the last 24 hours
Dogecoin $0.0816 or 6.21 percent loss in the last 24 hours