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Bitcoin (BTC), the world's oldest and most valuable cryptocurrency, continued to fall, dropping below $68,000 early Tuesday. Other famous cryptocurrencies, such as Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Solana (SOL), and Litecoin (LTC), are growing as the global market index of fear and greed changes. The Injective (INJ) token was the greatest gainer, with a 24-hour rise of more than 9%. Notcoin (NOT) was the biggest loser, falling more than 14% in 24 hours. During this post, the global cryptocurrency market was estimated at $2.46 trillion, a 2.55% drop in just 24 hours.
Bitcoin (BTC) price today
Bitcoin was at $67,774.70, registering a 24-hour drop of 2.37 percent, according to CoinMarketCap.
BTC was priced at Rs 60.33 lakh, according to Indian stock exchange WazirX.
Ethereum (ETH) Price Today
The ETH price stood at $3,535.82, marking a 24-hour drop of 3.64 percent at the time of writing.
According to WazirX, Ethereum price in India stood at Rs 3.18 lakh.
Dogecoin (DOGE) price today
DOGE recorded a 24-hour loss of 2.26%, currently trading at $0.1411, according to CoinMarketCap.
According to WazirX, Dogecoin was priced at Rs 12.71 in India.
Litecoin (LTC) Price Today
Litecoin is down 1.63% in 24 hours.
As of this writing, it is trading at $78.18.
LTC was priced at Rs 6,960.95 in India.
Ripple (XRP) price today
XRP was trading at $0.4866, down 1.90 percent in 24 hours.
According to WazirX data, Ripple price is Rs 43.49.
Solana (SOL) Price today
Solana is trading at $153.92, down 3.04% in 24 hours.
According to WazirX, SOL is priced at Rs 13,690 in India.
Today’s Biggest Cryptocurrency Gainers (June 11)
Here are the 5 cryptocurrencies with the biggest gains in the past 24 hours, according to CoinMarketCap data
Injective(INJ)
Price: $29.54
24-hour increase: 9.54%
Gnosis (GNO)
Price: $349.16
24-hour increase: 8.85%
Akash Network (AKT)
Price: $4.41
24-hour increase: 5.50%
Oasis (Rose)
Price: $0.118
24-hour increase: 2.74%
Flare (FLR)
Price: $0.02774
24-hour increase: 2.10%
Today’s Biggest Cryptocurrency Losers (June 11)
Here are the top five cryptocurrency losers in the past 24 hours, according to CoinMarketCap data:
Not a currency (NOT)
Price: $0.05199
24-hour loss: 14.05%
Wormhole (W)
Price: $0.5522
24-hour loss: 13.09%
Mantra (OM)
Price: $0.9984
24-hour loss: 8.01%
JASMY
Price: $0.03573
24-hour loss: 6.90%
ENA
Price: $0.7412
24-hour loss: 6.83%
What crypto exchanges say about the current market scenario?
Mudrex co-founder and CEO Edul Patel told ABP Live, "Bitcoin is currently consolidating around the $68,000 level following recent liquidations.Investors and traders are closely watching the Federal Reserve's upcoming press conference and the release of CPI data, both scheduled for tomorrow.Bears are trying to raise the price of below $ 68,000, but bulls can also engage in powerful purchases at this level.
The next level of BTC support is $ 67,400 and the resistance is $ 68,600.
Coins witch Ventures Investment Manager, Parth Chaturdi, said: “BTC could not break high time and dropped by 2%.This shows that the market sentiment in the short term.
However, an analysis of 2011 prices so far shows that BTC has actually delivered a 104% CAGR, outperforming both the US stock market and Warren Buffett's portfolio. The broader altcoin market is experiencing a downward trend.
The recently launched meme coin was the biggest hit, up 14% as people profited from a TON of the most popular memecoins. PEPE, another well-known meme coin, also fell 9%, bringing the total 24-hour crypto market liquidation to over $150 million, according to Coinglass. WazirX Vice President Rajagopal Menon said: “Bitcoin (BTC) is under intense pressure, dragging altcoins to new lows, currently at $68,197, down 2.21% in the last 24 hours.
The struggle to surpass all-time highs is linked to a slowdown in stablecoin minting post-halving.
However, a head-and-shoulders formation in BTC could soon break the resistance line, potentially pushing its price toward $83,000 in the near term.”Sathvik Vishwanath, CEO and co-founder of Uno coin, said, “The end of the US-Saudi petrodollar agreement on June 9, 2024 marks a significant shift in global financial dynamics that Bitcoin may benefit from.
The move could reduce reliance on the US dollar and boost inflation as Saudi Arabia explores alternative currencies such as the yuan, euro and digital currencies. Bitcoin, with its fixed supply and decentralized nature, may become the first choice in the fight against inflation.
As traditional fiat currencies lose value, Bitcoin's appeal as an investment is likely to increase, leading to long-term appreciation.
Trading at $69,600 with resistance at $70,100, Bitcoin futures look bullish if they hold above the $69,100 pivot point.
Buy Ucoin CEO Shivam Thakral said: “According to data from Coin shares, Bitcoin-led investment activity increased inflows by more than $1.97 billion, while Ethereum witnessed its best performance since March, adding nearly 7,000 thousands of dollars of capital inflow. The recent price drop has led to buying activity mainly from institutional investors as the digital asset prepares for the next bull market.
Legislative developments and positive macroeconomic factors may provide more impetus in the second half of 2024.
The research team at CoinDCX told ABP Live: “The cryptocurrency market has continued to fall over the past 24 hours.
The BTC hit $ 68,000, but Eth was below $ 3600. Altcoins also saw a lot of downturns. This week will be an important and highly volatile week for the cryptocurrency market due to the upcoming FOMC meeting and US Consumer Price Index (CPI) and Producer Price Index (PPI) announcements.
Technically, the trend is bearish on lower timeframes but remains bearish on higher timeframes.