Cryptocurrency Price Today: Bitcoin fell to an 18-month low on June 13, Monday, amid global selloff that put pressure on both stock and cryptocurrency markets. The world’s largest cryptocurrency fell to the $25,000 levels on the day as investors looked to sell their coins over the shock inflation data released by the US on Friday that triggered a global stock market selloff as they opened on Monday. Apart from Bitcoin, major altcoins like Ethereum, Solana and Cardano also shed up to 12 per cent of their values to scale new lows this year.
The global cryptocurrency market was standing at $1.03 trillion, down by 5.18 per cent over the past 24 hours, data showed, as the situation remained on the negative side throughout the weekend and trickled into this week. “Crypto spent much of the weekend in the reds, following Friday’s CPI report that showed inflation rising. Crypto investors were largely expecting the U.S. central bank to boost rates a half percentage point later this week in a bid to quell inflation, leading to a major “risk-off” sentiment in the markets,” said the CoinDCX research team.
“The recent inflation numbers (consumer price index) seen in the US has had a negative effect on most markets. Most investors will be keenly looking at the U.S. Federal Open Market Committee meeting slated for June 14 and 15th. An interest hike by the Fed is already priced in; however most investors worry that unless inflation numbers start dropping soon, the Fed will likely have to tighten reigns at a faster pace than anticipated,” said Darshan Bathija, CEO and co founder of Vauld.
“Going into 2023, we expect major central banks to continue their trajectory of quantitative tightening and policy rate hikes — effectively limiting any significant upside unless we see more convincing trends in economic recovery,” added the CoinDCX research team.
Bitcoin on the day plunged to its lowest level since Decembber 2020, and traded at the $25,000 mark after 18 long months. Bitcoin price today fell by 7.17 per cent to stand at $25,458.31 at the time of writing this article.
“On the daily time-frame, the BTC trend has broken below the long formed triangle pattern. An immediate and key support is expected at $24,000. The RSI dropped below 30 as Bitcoin entered the oversold zone,” said the WazirX trade desk.
On the other hand, Ether price today took a sharp hit and was standing at $1,337.31, falling by 7.61 per cent over the past 24 hours. This was the lowest since March 2021. Ether prices were down by 28.46 per cent over the past week.
“Ethereum corrected by over 20% over the past week meanwhile, Ethereum against Bitcoin dropped by more than 11% in the same period as Bitcoin’s Dominance broke above the 48% for the first time in nearly a year,” added the WazirX trade desk.
Here are the top 10 cryptocurrencies and their prices on June 13, 2022 ( According to data from coinmarketcap.com)
Bitcoin $25,458.31 or 7.17 per cent loss in the last 24 hours
Ethereum $25,458.31 or 7.61 per cent loss in the last 24 hours
Tether $0.9989 or 0.00 per cent gain in the last 24 hours
USD Coin $1.00 or 0.01 per cent gain in the last 24 hours
BNB $240.02 or 5.81 per cent loss in the last 24 hours
Binance USD $0.9991 or 0.20 per cent loss in the last 24 hours
XRP $0.3274 or 5.22 per cent loss in the last 24 hours
Cardano $0.4667 or 8.12 per cent loss in the last 24 hours
Solana $28.09 or 12.79 per cent loss in the last 24 hours
Dogecoin $0.05915 or 9.45 per cent loss in the last 24 hours