Cryptourrency Price Today, June 08: Bitcoin price today went up by 2.64 per cent to stand at $30,383.97 at the time of writing this article
Cryptocurrency Price Today: The global cryptocurrency market on Wednesday, June 8, remained volatile as the market cap remained largely flat, with slight gains through the day. This came just a day after the crypto market suffered losses, with major coins like Bitcoin, Ethereum, Solana and Cardano tracking massive losses. However, on Wednesday, all these crypto coins recovered to give the market a little push. As per data, the global crypto market cap was standing at $1.25 trillion at the time of writing this article, rising by 2.20 per cent in the last 24 hours.
“The crypto market requires some relief which may come from the inflation cooling off and the Fed relaxing the monetary policy and interest rates. It is important to note that the U.S. will release a consumer price index on coming Friday (June 10) which will be a litmus test for Fed’s strategy to tame inflation,” said Charles Tan, Chief Marketing Officer of Atato, a licensed MPC crypto custodian wallet.
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Bitcoin price today went up by 2.64 per cent to stand at $30,383.97 at the time of writing this article, according to data from CoinMarketCap. On the other hand, Ether price today was standing at $1,805.04, jumping by 2.18 per cent over the past 24 hours.
“BTC dropped near $29,000 levels before seeing an uptick above the $31,000 range. Some altcoins performed well: LINK rallied in double digits. However, the overall sentiment still remained bearish,” said Darshan Bathija, CEO and co founder of Vauld.
“Data indicated that most investors who made gains in the 2021 bull market are currently experiencing losses: MVRV ratio, a metric that measures when the price is above or below “fair value”, showed that more than 28% of BTC investors were in losses. Having said that, long-term holders will likely view this market as a time to accumulate BTC,” added Bathija.
“The overall sentiment in the crypto market is on the positive side, even as Bitcoin dipped below the $30,000 mark before reclaiming the $31,000 level. There was a brief upward momentum for Bitcoin which was quickly erased likely due to the broader sell-off in the Asian and the US markets. Ether on the other hand slipped below $1800 due to selling pressure,” noted Charles Tan.
“Chainlink (Link) witnessed double-digit growth and rallied over 11% – signifying some capital inflow which was soon affected by broad selling off today. Considering the weeks of continued downtrend this can be considered as a small spark of the markets’ resolve,” he said.
Here are the top 10 cryptocurrencies and their prices on June 8, 2022, Wednesday (data from coinmarketcap.com)
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Bitcoin $30,383.97 or 2.64 per cent gain in the last 24 hours
Ethereum $1,805.04 or 2.18 per cent gain in the last 24 hours
Tether $0.9995 or 0.01 per cent gain in the last 24 hours
USD Coin $1.00 or 0.01 per cent gain in the last 24 hours
BNB $290.23 or 3.26 per cent gain in the last 24 hours
Cardano $0.6358 or 8.86 per cent gain in the last 24 hours
XRP $0.3987 or 2.16 per cent gain in the last 24 hours
Binance USD $1.00 or 0.06 per cent gain in the last 24 hours
Solana $39.44 or 0.32 per cent gain in the last 24 hours
Dogecoin $0.08013 or 0.15 per cent gain in the last 24 hours
