Cryptocurrency Price Today: The global cryptocurrency market on Friday, July 1, continued to fall as it remained in the red zone for four consecutive days. Recession worries and inflationary pressure has set most crypto coins on a volatile mode, especially after a report concluded that the US economy contracted by 1.6 per cent in the first quarter of this year. Investors, worried about this, have been trying to sell their coins, with the stock markets being volatile as well, while they are also not looking to invest in any more risky assets.
The global cryptocurrency market spiralled further below the $900 million mark early on Friday. At the time of writing this article, the cryptocurrency market cap was $873.11 billion, a decrease of 1.89 per cent over the past day, data from CoinMarketCap showed. On the other hand, the total crypto market volume over the last 24 hours was standing at $75.89 billion, which is a increase of 23.26 per cent over the past 24 hours — indicating a selloff.
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Bitcoin on the day also dipped below the $20,000 mark again after recovering on the previous day. Bitcoin price today registered a value of $19,398.55 at 1152 IST, which is a dip of 2.83 per cent over the past day.
“Bitcoin dropped below $19K last day before recovering back above $20,000. Meanwhile the BTC balance on exchanges has hit a critically low level according to data from Galssnode. It is an indication that Bitcoin investors and whales are accumulating and HODling onto their coins despite the falling prices. This is a bullish sign which could eventually set off a reversal in trend. The daily trend for BTC is traversing within a descending triangle pattern. The next key support is expected at $14,000,” said the WazirX Trade Desk.
Meanwhile, Ether price today remained flat and dangled barely over the $1,000 mark for two straight days. At the time of writing this article, Ethereum price was standing at $1,053.43, which is down by 3.03 per cent over the past 24 hours.
“Ethereum against Bitcoin has dropped by over 6% since the start of this week as the Bitcoin Dominance index continued to rise in the last couple of days. The daily trend for ETH-BTC is traversing within an ascending triangle pattern. The daily RSI dropped below 40 edging closer to the oversold zone. The next key support for ETH-BTC is expected at 0.046 level and next resistance is expected at 0.076,” added the WazirX Trade Desk.
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Here are the top 10 cryptocurrencies and their prices on July 1, 2022, Friday, (According to data from coinmarketcap.com)
Bitcoin $19,398.55at or 2.83 per cent gain in the last 24 hours
Ethereum $1,053.43 or 3.03 per cent loss in the last 24 hours
Tether $0.9989 or 0.01 per cent loss in the last 24 hours
USD Coin $1.00 or 0.01 per cent loss in the last 24 hours
BNB $218.74 or 0.63 per cent gain in the last 24 hours
Binance USD $0.9999 or 0.19 per cent loss in the last 24 hours
XRP $0.3166 or 2.65 per cent loss in the last 24 hours
Cardano $0.4521 or 2.10 per cent loss in the last 24 hours
Solana $32.69 or 0.30 per cent gain in the last 24 hours
Dogecoin $0.06498 or 3.24 per cent loss in the last 24 hours
