On Friday, June 16, Bitcoin saw a 2.20 percent increase in profits, reaching a price of $25,493. This marks the first minor gain for Bitcoin on both national and international exchanges this week. The price of BTC rose by $480 in the last 24 hours. It is worth noting that this small recovery can be attributed to BlackRock’s iShares unit filing for a spot Bitcoin exchange-traded fund (ETF) with the SEC.
Rajagopal Menon, Vice President of WazirX, stated that concerns over US central bank policies and regulatory scrutiny had previously caused a decline in BTC value. However, the announcement from BlackRock iShares has renewed optimism for a BTC ETF despite previous rejections by the SEC.
Ether, following behind Bitcoin, also experienced a small recovery on Friday after almost four consecutive days of losses. ETH gained 0.43 percent and reached a trading value of $1,662. This marks one of Ether’s lowest trading values in recent months. Over the last day, ETH increased in value by $14.
According to the crypto price tracker by Gadgets 360, other cryptocurrencies such as Cardano, Litecoin, Leo, Cosmos, Chainlink, and Monero also saw profits along with BTC and ETH.
Interestingly, meme coins Dogecoin and Shiba Inu also managed to secure notable gains in an otherwise slow market situation.
The overall crypto market valuation increased by 1.27 percent over the last day, reaching $1.04 trillion as of June 16, as shown by CoinMarketCap.
Meanwhile, stablecoins Tether, Binance USD, and USD Coin experienced losses.
Binance Coin, Tron, Solana, Polygon, and Polkadot, along with Wrapped Bitcoin, Avalanche, and Uniswap, among others, also encountered price drops.
Parth Chaturvedi, Investments Lead at CoinSwitch Ventures, stated that except for Tron, all of the top ten cryptos by market capitalization were either trading in the green or showing no price action in the last 24 hours. Despite a brief respite in the market, it still appears to be uncertain.
The crypto fear and greed index has re-entered the neutral zone with a score of 47, marking a fresh six-point increase. Developments in the crypto world continue to grow despite the ongoing slump in the industry. Taxnodes, a crypto tax computational platform, for instance, has secured $1.6 million in a seed funding round, with investors such as Rahul Pagidipati from ZebPay and Nischal Shetty from WazirX.
In other news, Apple introduced its first mixed reality headset, the Apple Vision Pro, at its annual developer conference, along with new Mac models and upcoming software updates. To know more about the important announcements made by the company at WWDC 2023, listen to the Orbital podcast, available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music, and wherever podcasts are available.
Please note that cryptocurrency is an unregulated digital currency that is not a legal tender and carries market risks. The information provided in this article is not intended to be financial advice or any other recommendation. NDTV is not responsible for any losses resulting from investments based on perceived recommendations or forecast mentioned in the article.
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