The Global Cryptocurrency price update :-
The Cryptocurrency Market remained unchanged with a slight rise in the last 24 hours on June 5.
Though the risk desired investors did not see any change in growth in the crypto market, so the investors are backing off from investing in crypto coins which has hardly seen any rise this year.
Bitcoins have fallen 50% from it’s all time high level.
The global cryptocurrency market on June 5 was up by just 0.42 percent all day and standing at $1.23 trillion by the time of writing the article.
The CoinDCX research team stated that, ‘Global growth concerns spurred by rising interest rates and supply chain disruptions were the dominant themes within investor narratives, with many leaning towards capital preservation during these volatile times’.
‘That said, we remain optimistic on crypto’s longer term growth trajectory, and the immense potential it has to revolutionise the way we live, work, and play’, in the last week though the markets have remained unsteady for a while.
Bitcoin price leveled up by 0.43 percent below $30,000 to stand at $29,792.13 while writing the article according to the reports from CoinMarketCap.
Additionally, Ether price increased by 1.67 percent, standing at $1,795.14 today over the past 24 hours.
The WazirX trade desk:
The WazirX trade desk mentioned that BTC have raised in past few day rallings by $32k but was dragged down when Dollar gained it’s lost ground back.
Even the daily trend for Bitcoin continues to cross within a descending triangle pattern, it added.
However, ‘The next resistance for BTC is expected at $40,000 and an immediate support is expected at $26,800. Bitcoin needs to break past the $40K level to witness any significant upward rally.’
‘Until then BTC may continue to consolidate between the $28K to $40K,’ the WazirX trade desk added.
Darshan Bathija’s statement:
The CEO and co-founder of Vauld Darshan Bathija stated, ‘BTC continued to trade near the $30,000 level. While the recent dip has done little to attract new investors, long-term holders seem to be doubling-down and buying BTC at current price levels. ‘
He also mentioned that, when the price drops, the capacity of holders to buy more BTC per dollar increases eventually as seen from drift trend score.
The scores reflected that the investors who are still in the market are still adding notably in their BTC holdings, Darshan Bathija stated.
Following are the top 10 cryptocurrency prices on June 5, 2022.
According to the data from coinmarketcap.com
Bitcoin – $29,792.13 or 5.49 percent gain in the last 24 hours
Ethereum – $1,795.14 or 6.56 percent loss in the last 24 hours
Tether – $0.9993 or 0.01 percent gain in the last 24 hours
USD Coin – $1.00 or 0.01 percent gain in the last 24 hours
BNB – $297.61 or 0.28 percent loss in the last 24 hours
Cardano – $0.5621 or 0.21 percent loss in the last 24 hours
XRP – $0.3914 or 0.21 percent gain in the last 24 hours
Binance USD – $1.00 or 0.03 percent gain in the last 24 hours
Solana – $38.97 or 4.69 percent gain in the last 24 hours
Dogecoin – $0.0812 or 0.98 percent loss in the last 24 hours.
