Bitcoin Slips Below $19,000; Ether, Dogecoin Lose Ground
Cryptocurrency Price Today: The cryptocurrency market was back in the red zone on Tuesday, July 12 as investor sentiments remained negative against a volatility in the stock market. The global cryptocurrency market fell below the $900 million mark, registering a value of $877.60 billion. This is a decrease of 3.63 per cent in the past 24 hours, as per data, as major crypto coins, including Bitcoin and Ethereum fell over the day.
Bitcoin on the day also dipped slightly again as investors refused to invest in the world’s largest cryptocurrency by market value. Bitcoin price today registered a value of $19,744.64 at 1318 IST, which is a plunge of 0.57 per cent over the past day.
“Bitcoin dropped by over 7 per cent in the last couple of days to fall below the $20K level after failing to stay above the $22K. The BTC market sentiment also weakened as fear crept in with the drop in prices. On the daily time-frame, the BTC chart is traversing within the descending channel pattern. The daily RSI is approaching the oversold zone and we could expect investors to re-enter at this level. A failure to maintain its momentum above the $22K level could see BTC dropping further. An immediate support for Bitcoin is expected at $17,700,” said analysts at the WazirX trade desk.
On the other hand, Ethereum, the world’s second largest crypto coin was barely holding on to the $1,000 mark. Ether price today was also down by 1.01 per cent, to stand at $1,069.40 while writing this article.
“Ethereum closed in Red once again yesterday, dropping by nearly 6 per cent. ETH tried to overcome the resistance level of $1,280 multiple times but was always met with rejection. The daily trend for Ethereum has formed a descending triangle pattern and is trading close to the support levels. The daily RSI has fallen below the 40 level and fast approaching the oversold zone. An immediate support for Ethereum is expected at $890,” said the analysts.
“Crypto meltdown is a reality that is getting more real with each passing day. Moreover, it isn’t restricted by geographical boundaries. The list of crypto stakeholders going under keeps on growing, with the latest names added like – Singapore-based Vauld (which stopped customer withdrawals), Voyager Digital (filed for bankruptcy), and Huobi Thailand (pulled down shutters on July 1),” said Kumar Gaurav, CEO and founder of Cashaa.
Here are the top 10 cryptocurrencies and their prices on July 12, 2022, Tuesday, (According to data from coinmarketcap.com)
Bitcoin $19,744.64 or 0.57 per cent loss in the last 24 hours
Ethereum $1,069.40 or 1.01 per cent loss in the last 24 hours
Tether $0.9992 or 0.01 per cent loss in the last 24 hours
USD Coin $1.00 or 0.02 per cent loss in the last 24 hours
BNB $223.18 or 0.49 per cent gain in the last 24 hours
Binance USD $1.00 or 0.03 per cent gain in the last 24 hours
XRP $0.3109 or 1.28 per cent loss in the last 24 hours
Cardano $0.4322 or 0.75 per cent loss in the last 24 hours
Solana $33.48 or 0.34 per cent loss in the last 24 hours
Dogecoin $0.06175 or 0.47 per cent loss in the last 24 hours