Cryptocurrency price today: The global cryptocurrency market was headed for another drop on Saturday, June 11, as major crypto currencies took a hit during the day. Nearly all of the major crypto coins, including Bitcoin, Ethereum, Cardano, Solana, and others, extended previous day’s losses to shed more value. The global cryptocurrency market stood at $1.20 trillion, down 3.19 percent over the past 24 hours, the data showed, as the situation remained more on the downside.
Cryptocurrency prices remained volatile for another day as investors seemed hesitant about attractive prices and concerns about rising inflation and economic slowdown. “We are seeing frequent short-term volatility spikes as market participants are trading within a tight range because they are unsure how the crypto market would react to macroeconomic conditions,” said Darshan Bathija, CEO and co-founder of Vauld.
Bitcoin dipped back below the $30,000 levels during the early hours of the day and remained in that position. This came after two days in which the world’s largest cryptocurrency was flat at the $30,000 mark. Bitcoin price today fell 2.46 percent to settle at $29,340.07 at the time of writing. Over the past week, Bitcoin rates are down 1.13 percent. On the other hand, the price of Ether today took a heavy hit and stood at $1,669.92, falling by 6.79 percent in the last 24 hours.
“Although BTC has been moving along with the stock market, its correlation with the S&P 500 Index has decreased over the last month. If the crypto markets can become uncorrelated with traditional markets, it would be a very bullish sign. While long-term holders are doubling down on their BTC investments, retail investors remain risk averse in today’s market,” said Bathija.
“With a significant amount of institutional capital continuing to pour into the crypto space, this can potentially be seen as a reversal of the negative sentiment that was once prevalent. Entering the second half of 2022, we remain bullish on crypto and web3 adoption as the technology continually evolves to address existing challenges in the financial sector,” CoinDCX research team added.
Here are the top 10 cryptocurrencies and their prices on June 11, 2022 (according to data from coinmarketcap.com)
Bitcoin $29,340.07 or 2.46 percent loss in the last 24 hours
Ethereum $1,669.92 or 6.79 percent loss in the last 24 hours
Tether $0.9993 or 0.00 percent loss in the last 24 hours
USD Coin $1.00 or 0.02 percent gain in the last 24 hours
BNB $289.76 or 0.38 percent loss in the last 24 hours
Cardano $0.6094 or 2.26 percent loss in the last 24 hours
XRP $0.3876 or 4.49 percent loss in the last 24 hours
Binance USD $0.9999 or 0.13 percent loss in the last 24 hours
Solana $37.50 or 6.98 percent loss in the last 24 hours
Dogecoin $0.07625 or 3.64 percent loss in the last 24 hours
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