News
Bitcoin Falls Below $62,000 as Downtrend Continues
Bitcoin (BTC), the world’s oldest and most valued cryptocurrency, fell below the $62,000 mark early Tuesday. Other popular altcoins, including Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Solana (SOL), and Litecoin (LTC), have seen a mix of gains and smaller losses across the board as overall market fear. & Greed Index stood at 49 (neutral) out of 100, according to CoinMarketCap data. The Fetch.ai (FET) token was the biggest gainer, with a jump of almost 21% in 24 hours. Gnosis (GNO) became the biggest loser, falling more than 5% in 24 hours.
At the time of writing, the global cryptocurrency market capitalization stood at $2.26 trillion, recording a 24-hour decline of 1.08%.
Bitcoin (BTC) price today
According to CoinMarketCap, the price of Bitcoin stood at $61,195.07, recording a decline of 2.06% in the 24 hours. According to Indian exchange WazirX, the price of BTC stood at Rs 55.56 lakh.
Ethereum (ETH) price today
At the time of writing, the price of ETH stood at $3,371.37, marking a loss of 0.53% in the 24 hours. According to WazirX, the price of Ethereum in India stood at Rs 3.06 lakh.
Dogecoin (DOGE) price today
DOGE posted a 24-hour gain of 1.53%, according to CoinMarketCap data, currently valued at $0.1234. According to WazirX, the price of Dogecoin in India was Rs 11.09.
Litecoin (LTC) price today
Litecoin recorded a 3.72% drop in 24 hours. As of this writing, it was trading at $71.89. The price of LTC in India stood at Rs 6,375.
Ripple (XRP) price today
XRP price settled at $0.4789, recording a 24-hour gain of 0.24%. According to WazirX, Ripple price stood at Rs 43.17.
Solana (SOL) Price today
Solana’s price settled at $136.13, marking a 24-hour gain of 7.32%. According to WazirX, the SOL price in India stood at Rs 12,416.58.
Top cryptocurrency gains today (June 25)
According to CoinMarketCap data, here are the five biggest cryptocurrency gains in the last 24 hours:
Fetch.ai (FET)
Price: $1.71
Earnings over 24 hours: 20.97%.
dogwifhat (WIF)
Price: $1.93
Earnings over 24 hours: 20.39%.
SingularityNET (AGIX)
Price: $0.6944
Earnings over 24 hours: 17.78%.
Lido DAO (LDO)
Price: $2.42
Earnings over 24 hours: 16.78%.
Bon (Bonk)
Price: $0.00002263
Earnings over 24 hours: 15.76%.
Top cryptocurrency losers today (June 25)
According to CoinMarketCap data, here are the top five cryptocurrency losers over the past 24 hours:
Gnosis (GNO)
Price: $296.80
Loss in 24 hours: 5.41%.
ORDER (ORDER)
Price: $36.74
Loss in 24 hours: 5.21%.
Nexo (NEXO)
Price: $1.15
Loss in 24 hours: 2.75%.
Cloak (MNT)
Price: $0.7586
Loss in 24 hours: 2.74%.
KuCoin Token (KCS)
Price: $9.56
Loss in 24 hours: 2.71%.
What cryptocurrency exchanges are saying about the current market scenario
Mudrex co-founder and CEO Edul Patel told ABP Live: “The price of Bitcoin fell to $59,000, the lowest point in six weeks. There are several reasons for this decline. The German government, which transferred nearly 6,500 BTC, as reported by Arkham Intelligence on June 19, withdrew BTC Yesterday, Mt. Gox announced that it would return $8.5 billion in BTC to customers affected by the 2014 hack. As the price of Bitcoin is up more than 8,000% since 2014, which could introduce some selling pressure for BTC. The decline in BTC price also coincides with outflows from spot Bitcoin ETFs. However, BTC has since recovered and is coming traded above the $61,000 level. The next immediate resistance lies at the $61,400 level and support is at the $60,800 level. Investors and traders should closely monitor the market developments.”
CoinSwitch Markets Desk noted: “It was a rather unusual day in the crypto ecosystem. While Bitcoin (BTC) fell more than 8% at one point, altcoins showed resilience, holding their positions while the dominance of BTC fell by almost 1%. Despite following a bearish trend for the past 18 days, BTC appears to have found support at $58.5k USD. Before the daily closing candle, it managed to register a slight bounce above 60,000 dollars. Bitcoin fell below the USD 60,000 mark only once after the end of February this year.”
Sathvik Vishwanath, CEO and co-founder of Unocoin, said: “Bitcoin (BTC) has recently faced bearish pressure, falling from $64,380 to $61,090 due to increased selling activity. It fell by over 6% compared to last week, driven by profit taking from addresses that bought BTC between $63,490 and $64,930 and significant miner sales totaling 30,000 BTC ($2 billion) since June, also supported by robust US PMI data and expectations of a Fed rate cut, has held back BTC prices. Analysts suggest that the current calm in BTC price is temporary and expect future catalysts to drive the upward momentum. Immediate levels to watch include resistance at $63,440, $64,510, and $65,710 and support at $60,620, $59,670, and $58,630, with the RSI at 13 indicating oversold conditions.
Shivam Thakral, CEO of BuyUcoin, said: “The cryptocurrency market continued its downward trend with the overall cryptocurrency market capitalization falling by nearly 3.5% to $2.27 trillion. Currently As of this writing, BTC was trading at $61,290 while Ethereum changed hands at $3,383. The broader sell-off in the cryptocurrency market has created enormous pressure on digital assets at all levels, including altcoins market is slightly negative and will keep investors on their toes in the coming weeks.”
CoinDCX’s research team told ABP Live: “The market saw a significant decline due to the Mt. Gox news, with BTC falling below $59,000 and ETH below $3,300. Despite the decline, altcoins have outperformed BTC while the ETH/BTC pair remained strong. Currently, the market appears stable, with open interest declining and funding rates reset, even negative. Technical indicators remain strong on longer time frames work better than older coins.”
Sign up and follow ABP live on Telegram: t.me/officialabplive
Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any losses arising from such transactions. Cryptocurrency is not legal tender and is subject to market risks. Readers are advised to seek expert advice and carefully read the offering documents along with relevant relevant literature on the subject before making any type of investment. Cryptocurrency market forecasts are speculative and any investments made will be at the sole cost and risk of the readers.