E Amazings
  • Home
  • Automotive
  • Business
  • CBD
  • Crypto
  • Education
  • Entertainment
  • Fashion
  • Finance
  • Health
  • Home Improvement
  • Law \ Legal
  • News
  • Shopping
  • Sports
  • Technology
  • Travel

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

What's Hot

Videsh Mey Nivesh Ke Pathshala: Want to invest in foreign markets? Anil Singhvi explains how to do it

July 5, 2022

FinTech Acquisition Corp Mutually Terminates Merger Agreement With eToro

July 5, 2022

Arbitrations – Worth the Supposed Savings?

July 5, 2022
Facebook Twitter Instagram
E Amazings
  • Home
  • Automotive
  • Business
  • CBD
  • Crypto
  • Education
  • Entertainment
  • Fashion
  • Finance
  • Health
  • Home Improvement
  • Law \ Legal
  • News
  • Shopping
  • Sports
  • Technology
  • Travel
Facebook Twitter Instagram
E Amazings
You are at:Home»Crypto»BTC Drops Below $30K, ETH Plummets to Lowest Prices Since March 2021 (Market Watch)
Crypto

BTC Drops Below $30K, ETH Plummets to Lowest Prices Since March 2021 (Market Watch)

Paul EasterBy Paul EasterJune 11, 2022No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter Pinterest WhatsApp Email


After the US announced the latest record-setting CPI data, bitcoin dumped below $30,000 and registered a two-week low. The altcoins are in an even worse shape, with ETH plummeting to its lowest price level since March 2021.

Bitcoin Falls Down Again

This past week seemed somewhat more positive for the primary cryptocurrency as it challenged $32,000 on a few occasions. During one of the attempts, BTC broke above that level and marked a multi-week high at $32,400.

However, the bears stepped up at every turn and didn’t allow any increases. Ultimately, they brought BTC down to $30,000, where the asset spent the last two days.

At this point, the US CPI numbers came out, indicating a new 40-year record in terms of inflation – an 8.6% YOY increase. As with previous examples, the news led to enhanced volatility in the crypto markets, and BTC slipped by more than $1,000 in hours.

Dropping below $29,000 meant a new lowest level since the end of May. As of now, BTC stands just over that line. Its market cap is down to $560 billion, but the dominance over the alts is up to 46.7%.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

Notable 24-hour Bitcoin News

Despite the turbulence and market retracements, VanEck’s CEO predicted a future price tag of $250,000 for BTC. However, he believes this could take decades.

Max Keiser explained his views on why the Sen Lummis crypto bill is not going to work as bitcoin is the only real commodity.

Jack Dorsey snubbed Web 3 and outlined a new Web 5 platform to be built on the Bitcoin blockchain.

ETH Sees Yearly Low

Aside from LEO, which is slightly in the green now, the rest of the altcoins didn’t enjoy the past 24 hours either.

Ethereum is among the most substantial losers, with a 7% daily decline. As a result, ETH dumped below $1,700 and saw its lowest price position since March 2021 at around $1,650 (on Bitstamp).

Solana, Avalanche, and MATIC have all lost similar percentages from the lower-cap alts. Ripple, Cardano, Dogecoin, Polkadot, TRON, and Shiba Inu are in the red as well.

With the lower- and mid-cap alts also retracing, it’s no wonder that the crypto market cap is down by $60 billion in a day and is under $1.2 trillion now.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto

Altcoin News

CryptoPotato reported yesterday all readers need to know about Monero’s tail emission.

The attacker behind the 20 million OP tokens returned the remaining 17 million after selling one million and sending two more to Ethereum’s Vitalik Buterin.

Mastercard partnered with several companies, including Immutable X and The Sandbox, to allow NFT purchases with fiat.

SPECIAL OFFER (Sponsored)

Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.



Source link

Paul Easter

Related Posts

FinTech Acquisition Corp Mutually Terminates Merger Agreement With eToro

By Paul EasterJuly 5, 2022

the Revolution Behind Asset Tokenization

By Paul EasterJuly 5, 2022

BTC Testing $20K But is Another Pullback Coming?

By Paul EasterJuly 5, 2022

CoinLoan Reduces Withdrawal Limits but Claims No Exposure to Luna, Celsius, 3AC

By Paul EasterJuly 5, 2022
Add A Comment

Comments are closed.

Our Picks

Videsh Mey Nivesh Ke Pathshala: Want to invest in foreign markets? Anil Singhvi explains how to do it

By Paul EasterJuly 5, 2022

FinTech Acquisition Corp Mutually Terminates Merger Agreement With eToro

By Paul EasterJuly 5, 2022

Arbitrations – Worth the Supposed Savings?

By Paul EasterJuly 5, 2022
Recent Posts
  • Videsh Mey Nivesh Ke Pathshala: Want to invest in foreign markets? Anil Singhvi explains how to do it July 5, 2022
  • FinTech Acquisition Corp Mutually Terminates Merger Agreement With eToro July 5, 2022
  • Arbitrations – Worth the Supposed Savings? July 5, 2022
  • Asia Cup 2022 Cricket Schedule, Points Table, Teams, Winners, Date, Live Streaming, News, Venues, Squads July 5, 2022
  • Up to Rs 3 cr! Mirae Asset launches Loan Against Mutual Funds facility within minutes by lien marking – Know how it works July 5, 2022
  • Hacker Camps Post-Pandemic, Electromagnetic Field 2022 July 5, 2022
  • the Revolution Behind Asset Tokenization July 5, 2022
Archives
  • July 2022
  • June 2022
Facebook Twitter Instagram Pinterest TikTok
  • Home
© 2022 E Amazings - All Rights Reserved.

Type above and press Enter to search. Press Esc to cancel.