Bitcoin and other cryptocurrencies traded lower on Friday after a three-day rally. Bitcoin fell 0.73% to $30,063, while Ethereum was below $1,900. BTC volume slumped 40% in the last 24 hours, and the global cryptocurrency market cap fell 1.36% to around $1.17tn. Bitcoin’s dominance reached 50%, according to CoinMarketCap, after a 0.16% increase over the day. The crypto fear and greed index remained unchanged at 65/100. Other top crypto tokens also traded in the red, including BNB, Solana, and Polygon, with each declining over 4%.
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Explore NowThe cryptocurrency markets traded in the red on Friday after rising for three consecutive days. Bitcoin (BTC) declined 0.73% to $30,063, whereas Ethereum (ETH) was below the $1,900 level.
BTC volume stood at approximately $18.92 billion, falling 40% in the last 24 hours.
“Markets have slipped after a three-day rally. The crypto fear and greed index has registered no movement and continues to remain at a score of 65/100,” Parth Chaturvedi, Investments Lead at CoinSwitch Ventures, said.
“BTC, down 1.3%, continues to trade around $30k. BTC’s price is beginning to stall after the BTC ETF excitement within the market. Though we can expect the BTC price to hold firmly around the current levels with support at $29.7k,” Parth added.
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View Details »Other top crypto tokens were also trading in the red on Friday. BNB, Solana, and Polygon declined over 4% each. The global cryptocurrency market cap was trading lower around $1.17 trillion, falling 1.36% in the last 24 hours.
The market cap of Bitcoin, the world’s largest cryptocurrency, was around $582 billion. Bitcoin’s dominance is currently 50%, an increase of 0.16% over the day, according to CoinMarketCap.
“Bitcoin failed to break the $30,700 level and could therefore trigger a correction towards the $29,300 Fibonacci retracement. Increased selling pressure could push the price down to around $28,400, which is the 38.2% Fibonacci level. If the bearish trend strengthens, the targets at $27,750 and $27,000 (50% and 61.8% Fibonacci retracement levels) will become relevant,” Sathvik Vishwanath, Co-Founder & CEO of Unocoin, said.
Rajagopal Menon, Vice President at WazirX said, “Major market oscillators point to a neutral sentiment. The Relative Strength Index (14) sits at 70, with a neutral outlook. The Stochastic %K (14, 3, 3) at 87 indicates “Sell” and the Average Directional Index (14) at 29 indicates a Neutral outlook.
“The MACD Level (12, 26), at 580, indicates Buy. The Stochastic RSI Fast (3, 3, 14, 14) is Sell at 98 and William’s Percentage indicates a Neutral sentiment at -13,” Menon added.
Crypto Cart: Quick Glance (Source: coinmarketcap.com, data as of 10.34 hours, IST on June 22, 2023)
Bitcoin $30,063 -0.73%
Ethereum $1,885 -1.69%
Tether $0.9999 0.01%
BNB $243 -4.21%
XRP $0.4962 -3.76%
Cardano $0.2925 -2.14%
Dogecoin $0.06642 -2.42%
Solana $16.75 -4.07%
Polygon $0.6685 -4.29%
Litecoin $86.58 -1.36%
Polkadot $4.92 -0.35%
Tron $0.0725 -1.65%
Shiba Inu $0.000007926 -1.57%
(Note: Price change in last 24 hours)
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)