Crypto Price Today: Bitcoin Falls Below $25,900; BNB and Shiba Inu go up to 6%

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Cryptocurrency markets were trading mixed on Wednesday ahead of the Federal Reserve policy meeting that ends later in the day. Bitcoin, XRP, and Solana were trading at discounts, while BNB, Polygon, and Shiba Inu were trading at discounts.

Bitcoin (BTC) fell 0.88% to $25,881, while Ethereum (ETH) was below the $1,750 level. BTC volume stood at around $13.02 billion, up 12.48% in the past 24 hours.

“The crypto market remained bullish as a crypto community anticipates a pause in continued rate hikes at today’s FOMC meeting. The crypto market may react strongly to the results of the FOMC meeting. FOMC today, as any loosening of monetary policies will prove beneficial to financial markets in the long run,” said Shivam Thakral, CEO of BuyUcoin.

The global cryptocurrency market capitalization traded at around $1.06 trillion, down 0.49% in the past 24 hours.

Total DeFi volume is currently $2.05 billion, or 6.57% of the total 24-hour crypto market volume. The volume of all stablecoins is now $30.11 billion, or 96% of the total 24-hour crypto market volume. The market capitalization of Bitcoin, the largest cryptocurrency in the world, was around $502 billion. Bitcoin dominance is currently at 48%, down 0.17% on the day, according to CoinMarketCap. With the global market capitalization exceeding $1 trillion, we should soon be able to witness a rally in the crypto markets. Breaking these levels, however, can send markets into deep red,” said Shubham Hudda, Senior Manager at CoinSwitch Markets Desk. 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 42, with a neutral outlook. The Stochastic %K (14, 3, 3 ) and the Average Directional Index (14) are at 25 and 27, respectively, further indicating a neutral market.

“The MACD level (12, 26) at -385 indicates a sell off. The Rapid Stochastic RSI (3, 3, 14, 14) is at 37 with a neutral indicator, while the Williams Percent Range (14) at 70 signals neutral,” added Menon.

Crypto Cart: Quick Glance (Source: coinmarketcap.com, data as of 12:14 p.m., IST June 14, 2023)

Bitcoin $25,881 -0.88%Ethereum $1,740 -0.72%Tether $1.00 -0.01%BNB $248 5.66%XRP $0.512 -3.43%Cardano $0.2745 -2.05%Dogecoin $0.0618 -0.22%Polygon $0.6481 0.27%Solana $15.12 -2.08% Litecoin $77.61 -1.12% Polkadot $4.63 -0.01% Tron $0.07227 0.32% Avalanche $11.82 1.10% Shiba Inu $0.000006806 1.14% (Note: price change in 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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