Despite positive developments over the weekend, the crypto market did not achieve the milestone stabilization. For example, bitcoin took the last week of June with a modest loss of 0.29 percent. However, the price point of BTC managed to stay above the $30,000 (Rs 24.3 lakh approx) mark. At the time of writing, BTC was trading at $30,449 (roughly Rs. 24.9 lakhs). Over the weekend, the costliest cryptocurrency gained as much as $494 (roughly Rs. 40,500).
Amid the ongoing tussle with crypto players such as Binance and Coinbase, the US SEC approved the launch of the first leveraged bitcoin futures ETF in the US. Leveraged funds use debt or financial derivatives – in this case, bitcoin futures – as leverage to magnify the returns of a benchmark index. Furthermore, Federal Reserve Chairman Jeremy Powell also testified at the House Financial Services Committee that crypto has staying power in the US.
Both these developments contributed to profit-taking in the crypto market over the weekend.
ether Gadgets 360 sees a marginal increase of 0.17 percent crypto price chart on Monday. As of June 26, the ETH price is at a point of $1,873 (roughly Rs. 1.5 lakh). Second most valuable cryptocurrency after Bitcoin ETH fell by $2 (about Rs.163) in the last two days.
The crypto charts clearly marked the split, with BTC and ETH taking different trajectories on their price paths.
with small but significant profits, binance coin, Wave, solana, tron, polka dot, avalanche And polygon The price joined ETH on the green side of the chart.
lanyard, us dollar coin, cardano, dogecoin, LitecoinAnd Shiba Inu Meanwhile, the market movement of BTC has been repeated and the price remains on the red side of the charts with losses.
The overall crypto market with 25,943 registered cryptocurrencies has lost 0.84 percent in valuation in the last 24 hours. Market cap of crypto sector stands at $1.18 trillion as of June 26, data shows coinmarketcap,
The Crypto Fear and Greed Index showed no movement and remains at a score of 65/100.
Rajagopal Menon, Vice President of WazirX, told Gadgets 360, “Bitcoin’s market depth remains a concern. However, it could see a spike in trading volumes, with this correction phase predicted to settle by the end of the year. “