Crypto Crash Update 6/29: Bitcoin, Ethereum, BNB, XRP, ADA, Solana, DOT, Dogecoin, SHIB, AVAX fall up to 10%

Crypto crash update (29th June 2022): Most of the top cryptos traded low on Tuesday while the global cryptocurrency market cap shrunk to $910 billion,

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Crypto Crash Latest News Update Today (29th June 2022): Most of the top cryptos traded low on Tuesday while the global cryptocurrency market cap shrunk below $900 billion, decreasing around 5 per cent over the day. Prices of most of the top cryptos have dropped in the last 24 hours, according to CoinMarketCap data at the time of updating this article (12.49 pm, India time).

The global crypto market volume over the last 24 hours was $60.36 billion, up 6.01 per cent from the previous day. Bitcoin dominance remained stable at around 42.5 per cent during the period. 

Bitcoin (BTC) price decreased by around 5 per cent in the last 24 hours. At the time of writing, BTC was trading below $20,00. In the last 7 days, BTC price has fallen by 0.75 per cent. 

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“Along with the US equity markets, most cryptos have also traded low on Tuesday. Bitcoin and most cryptocurrencies have been facing turbulence with market movements. BTC fell below US$21,000 with downward pressure intensifying yesterday, sending the largest crypto slightly lower than Monday. If bulls can move above the US$21,000 level and hold, we can expect BTC trading at US$22,000 in the coming days,” Edul Patel, CEO and Co-founder of crypto investment platform Mudrex said. 

Bitcoin below 200-week moving average

“Bitcoin remained fairly flat throughout the last day, consolidating between $20K and $21K. On the weekly timeframe, the BTC trend has formed a descending channel pattern. The weekly RSI had hit an all-time low a couple of weeks back and hasn’t shown any significant improvement since then,” analysts at WazirX Trade Desk shared in a note with FE Online.

“Another crucial fact is that the BTC price has closed below the 200-week Moving Average(MA) for the second week in a row which is unheard of.  The 200-week MA is currently at around $22,500 and if BTC breaks this level, then the key resistance will be at $32,300 else the key support would be at $14,000,” the note added. 

Crypto Rupe Index Change

Crypto Rupee Index (CRE8) by CoinSwitch dropped 2.28 per cent in the last 24 hours to Rs 2252 at the time of writing. CRE8 tracks crypto market performance in INR.

Top Crypto Prices on June 29

Ethereum (ETH): Ethereum price fell nearly 7 per cent to $1124 in the last 24 hours. In the last 7 days, ETH price has increased by over 4 per cent. It is currently ranked the second largest crypto asset in terms of market capitalisation.  

Binance (BNB): Binance Chain coin’s price decreased by nearly 8 per cent to $219 in the last 24 hours. In the last 7 days, BNB price has increased by 3 per cent. It is currently ranked as the 5th biggest crypto asset in terms of market capitalisation.

XRP: XRP coin’s price decreased by 6 per cent to $0.3286 in the last 24 hours. In the last 7 days, XRP price has increased by 2.49 per cent. It is currently ranked as the 7th biggest crypto in terms of market capitalisation.  

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Solana (SOL): Solana price decreased by around 10 per cent to $35 in the last 24 hours. In the last 7 days, SOL price has increased by 2.41 per cent. It is currently ranked as the 9th biggest crypto asset in terms of market capitalisation.  

Cardano (ADA): Cardano token’s price decreased by 4.44 per cent to $0.4693 in the last 24 hours. In the last 7 days, ADA price has increased by 0.41 per cent. It is currently ranked as 8th biggest crypto asset in terms of market capitalisation.  

Dogecoin’s (DOGE) price has decreased by around 10 per cent in the last 24 hours. DOGE is currently ranked 10th in terms of market capitalisation. The price of DOGE at the time of this report was $0.06515.

Price of Polkadot (DOT) decreased by 6.66 per cent to $7.21. Avalanche (AVAX) price fell around 9 per cent to $18.28 in the last 24 hours. Both DOT and AVAX are currently ranked 11th and 17th respectively on CoinMarketCap. 

Polygon (Matic) price decreased by around 4 per cent to $0.5194 in the last 24 hours. In the last 7 days, MATIC has jumped  30 per cent.  It is currently ranked 18th on CoinMarketCap. In the last 7 days, Matic has jumped 52 per cent. 

Shiba Inu (SHIB) price dropped nearly 11 per cent in the last 24 hours to $0.000009715. It is currently ranked 14th on CoinMarketCap.

(Cryptos and other virtual digital assets are unregulated in India. They are considered extremely risky for investment. Please consult your financial advisor before making any investment decision)

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