Crypto Market Watch: Bitcoin Ether and Most Cryptocurrencies Incur Minor Losses as Sector Stays Shaky
Bitcoin on Tuesday, June 27, incurred a small loss of 0.13 percent alongside majority other cryptocurrencies. Amid a shaky crypto market, Bitcoin's trading value stayed at a healthy price point of $30,380 (roughly Rs. 24.9 lakh). This is the second consecutive day that the most expensive cryptocurrency has managed to maintain its price above the mark of $30,000 (roughly Rs. 24.3 lakh). In the last 24 hours, the value of Bitcoin notably dropped by $69 (roughly Rs. 5,656).
Ether walked into losses alongside Bitcoin on Tuesday. With a minor dip of 0.75 percent, Ether is presently trading at $1,863 (roughly Rs. 1.5 lakh). The second most valued cryptocurrency, ETH lost $10 (roughly Rs. 820) from its last day's pricing.
“Market experts predict July gains for Bitcoin based on historical data,” Rajagopal Menon, Vice President, WazirX, told Gadgets 360.
As per the crypto price tracker by Gadgets 360, most of the popular altcoins found themselves struck by small losses today.
These include Tether, Binance Coin, USD Coin, Ripple, Cardano, and Dogecoin.
Price tumbles were also recorded by Solana, Polkadot, Avalanche, Shiba Inu, Chainlink, Cosmos, and Uniswap.
The overall valuation of the crypto sector showed no changes in the last 24 hours and retained its capitalisation at $1.18 trillion (roughly Rs. 96,87,576 crore), as per CoinMarketCap.
The crypto fear and greed index has climbed four points to remain in the greed zone with a score of 59/100.
Meanwhile, some cryptocurrencies did reflect small but significant profits on Tuesday.
These include Tron, Litecoin, Polygon, and Bitcoin Cash.
Monero, Stellar, Near Protocol, EOS Coin, Iota, Zcash, Dash, and Zilliqua also managed to record profits.
“With Sensex in India recently reaching all-time highs and S&P 500 in the USA reaching a 15-month high, investors' interest in alternate asset classes is also brewing. While BTC dominance is also consolidating around its two-year high of 51.7 percent, some altcoins have also started rallying. This includes Bitcoin Cash (BCH) which has registered gains of over 100 percent in the last seven days,” Shubham Hudda, Senior Manager, CoinSwitch Markets Desk, told Gadgets 360. “It could be attributed to the institutional interest it has amassed after getting listed on Fidelity, Schwab, and Citadel-backed EDX Markets recently,” he added.
Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.
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