On June 13, Bitcoin saw a modest profit of 0.91% as it entered the unpredictable world of the crypto market. National and international exchanges alike are trading Bitcoin at $26,012 (roughly Rs. 21.4 lakh), and over the last 24 hours, the oldest cryptocurrency has increased by $247 (roughly Rs. 20,365). With BTC accruing gains, the overall crypto market has seemingly returned to a more stable state, free of loss-ridden trading trends.
While Ether’s value rose by 0.54% to trade at $1,745 (roughly Rs. 1.43 lakh), note that the second-most valuable cryptocurrency after Bitcoin is currently trading at its lowest point since February at $1,684 (roughly Rs. 1.39 lakh). Despite facing regulatory challenges and liquidity obstacles, Bitcoin has done exceptionally well, and its support level at $25,000 (roughly Rs. 20 lakh) has managed to remain reasonably resilient in the face of market fluctuations, as per CoinDCX’s research team’s analysis.
Following traditional market trends, yesterday’s losses for most cryptocurrencies were recovered with BTC and ETH’s profits.
Amidst SEC scrutiny in the US, Binance Coin (BNB) gained significantly more than BTC and ETH. BNB rose 2.5% to reach $232 (roughly Rs. 19,140) at the time of writing.
Gadgets 360 reports that popular cryptocurrencies Ripple, Cardano, Dogecoin, Tron, Solana, and Polygon also saw profits reflected on the crypto price chart, while Litecoin, Polkadot, Wrapped Bitcoin, Avalanche, and Shiba Inu minted minor profits. Binance USD, Tether, and USD Coin recorded minor losses, while Leo, Bitcoin Cash, Cronos, and Braintrust suffered small losses.
The crypto sector’s overall market capitalization rose by 0.87% in the last 24 hours, with as of June 13, its valuation standing at $1.06 trillion (roughly Rs. 8720946 crore), as per CoinMarketCap.
Crypto investors should expect more volatility in the sector, with the market facing a bearish trend, as per the fear and greed index, which fell by two points to 45 points yesterday. Crypto players Binance and Coinbase’s ongoing battle with the SEC is also likely to escalate in the coming days, which will impact the industry.
According to experts, upcoming economic indicators, US jobless claims, the SEC’s Coinbase rulemaking response, and Binance US hearing, among other things, will result in market volatility later in the week.
Disclaimer: Cryptocurrency is not a legal tender and is an unregulated digital currency subject to market risks. The article’s information should not be considered financial advice, trading advice, or any other recommendation endorsed by NDTV. NDTV will not be held accountable for any investment loss resulting from perceived recommendations or advice forecasts sourced from this article.
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Alex Smith is a writer and editor with over 10 years of experience. He has written extensively on a variety of topics, including technology, business, and personal finance. His work has been published in a number of magazines and newspapers, and he is also the author of two books. Alex is passionate about helping people learn and grow, and he believes that writing is a powerful tool for communication and understanding.
