Bitcoin Price Today: Crypto Price Today: Bitcoin Falls Below $25,900; BNB, Shiba Inu lost up to 5%

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Cryptocurrency markets were trading mixed on Monday ahead of key inflation data later in the day. Bitcoin, XRP, Cardano, and Polygon were trading with gains, while Ethereum, BNB, Solana, and Shiba Inu were trading with reductions.

Bitcoin (BTC) rose 0.28% to hit $25,864, while Ethereum (ETH) was below the $1,750 level.

“The crypto market has yet to react to the US Fed’s decision to suspend rate hikes. It is important to note that the US Fed has raised interest rates by 500 basis points since it started its war on inflation and prevented the economy from sliding into possible recessions,” said Shivam Thakral, CEO of BuyUcoin.

“The crypto market may react positively to the latest developments related to rate hikes in the coming weeks, but the real relief will come if interest rates are lowered to boost market liquidity,” Thakral added.

The global cryptocurrency market capitalization was trading at around $1.05 trillion, down 0.12% in the past 24 hours. score of 47 points. This could be attributed to the ongoing SEC lawsuits against Binance and Coinbase, which have led to a mass exodus of deposits from these exchanges,” said Parth Chaturvedi, Chief Investment Officer, CoinSwitch Ventures. is currently 1.9 billion, or 7% of the total 24-hour crypto market volume. The volume of all stablecoins is now $25.15 billion, or 94% of the total 24-hour crypto market volume. The market capitalization of Bitcoin, the largest cryptocurrency in the world, was around $501 billion. BTC volume stood at around $11.55 billion, down 24% in the past 24 hours. Bitcoin dominance is currently at 47%, an increase of 0.21% on the day, according to CoinMarketCap.

Rajagopal Menon, VP of WazirX, said: “The major market oscillators indicate neutral sentiment. The Relative Strength Index (14), one of the key indicators, sits at 41, with a neutral outlook. The stochastic %K (14, 3 , 3) ​​and the average directional index (14) are at 18 and 26, respectively, further indicating a neutral market.

“The MACD level (12, 26) at -376 indicates selling. The Rapid Stochastic RSI (3, 3, 14, 14) is at 27 with a neutral indicator, while the Williams Percent Range (14) at 82 signals neutral,” added Menon.

Crypto Cart: Quick Glance (Source: coinmarketcap.com, data as of 12:20 p.m., IST June 12, 2023)

Bitcoin $25,864 0.28% Ethereum $1,741 -0.92% Tether $1.00 -0.03% BNB $225 -5.18% XRP $0.514 1.32% Cardano $0.2764 4.52 % Dogecoin $0.6084 -2.02 % Polygon $0.6328 4.18 % Solana $15.19 -2.76% Litecoin $76.44 -1.45% Polkadot $4.5 0.70% Tron $0.06982 0.72% Avalanche $11.43 -1.80% Shiba Inu $0.000 006584 -3.58%

(Note: price change in the last 24 hours)

(Disclaimer: The recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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