The cryptocurrency market is showing volatility across most cryptocurrencies on Wednesday, June 26. Bitcoin registered a minor fall of 0.29 percent which dragged its price from $63,200 (roughly Rs. 52.8 lakh) to the $61,752 (roughly Rs. 51.5 lakh) mark according to CoinMarketCap. Meanwhile, on domestic exchanges, the value of Bitcoin stands at $60,145 (roughly Rs. 50.2 lakh). However, the Bitcoin chart needs significant bearish selling pressure to retest $70,000 (roughly Rs. 58.4 lakh).
“Bitcoin after testing $58,000 (roughly Rs. 48.4 lakh) on Monday recovered to $62,000 (roughly Rs. 51.9 lakh) in the last 24 hours. This move coincided with a rally in Nvidia and the Nasdaq Composite, all two experienced their worst days since April in the previous session,” Edul Patel, CEO of Mudrex told Gadgets360.
Ether showed a minor price rise of 2.63 percent on the crypto price tracker on Wednesday. Ether, at the time of writing, is trading at $3,725 (approx. 3.11 lakh) on domestic exchanges and $3,387 (approx. 2.82 lakh) on international exchanges.
“The sharp decline is unexpected in light of the early approval of spot Ether exchange-traded funds (ETFs) in the US in July, which had fueled optimism for a significant price recovery. Price movements significant year-to-date ETH after giving a break above the 'descending triangle' pattern rose to $3,977 (roughly Rs. 33 lakh) and started consolidating in a range of $3,900 ( approximately Rs. 3.25 lakh) to $3,700 (approximately Rs. 3.08 lakh),” ZebPay's Trade Desk told Gadgets360.
As of Wednesday, cryptocurrencies trading in losses include Binance Coin, Ripple, Tron, Near Protocol, Uniswap, Polygon, Leo and Cosmos.
Meanwhile, cryptocurrencies trading in profit include Tether, Solana, Dogecoin, Cardano, Shiba Inu and Avalanche.
Chainlink, Polkadot, Litecoin, Stellar, Bitcoin SV and Elrond also managed to hold on to small gains on the price charts.
The global crypto market managed to increase by 0.91 percent in valuation over the last 24 hours. As of Wednesday, the crypto market cap stands at $2.28 trillion (roughly Rs. 1,90,34,922 crore), CoinMarketCap shows.
“In altcoins, memecoins continued to dominate the day's top movers, with Coinbase L2's leading memecoin BRETT and Ethereum's PEPE topping the charts. These two memecoins are inspired by the artist's comic series Matt Furie, 'The Boy's Club,'” the CoinSwitch Markets Desk told Gadgets360.
