Cryptocurrency Prices Today July 13: Bitcoin flat lines, Polka-dot the biggest loser
The price of Bitcoin hovered around Rs 16 lakh. Bitcoin’s dominance is currently 42.75 per cent, a decrease of 0.06 per cent over the day, according to Coin Market Cap data.
Crypto-verse: Shrimps and whales keep bitcoin afloat
These two contrasting groups are both Holders - investors in bitcoin as a long-term proposition who refuse to sell their holdings - and they are determined to drive back the bears, despite their portfolios being deep in the red.
Major cryptocurrency traded in the red early on July 13. The global crypto market cap declined by 2.39 per cent to $867.37 billion over the last day. The total crypto market volume over the last 24 hours is $55.24 billion which makes a 2.49 per cent increased. The total volume in DeFi is currently $4.78 billion which is 8.65 per cent of the total crypto market 24-hour volume. The volume of all stable coins is now $50.59 billion, which is 91.58 per cent of the total crypto market 24-hour volume.The price of Bitcoin hovered around Rs 16 lakh. Bitcoin’s dominance is currently 42.75 per cent, a decrease of 0.06 per cent over the day, according to Coin Market Cap data. In other news, in an attempt to help users circumvent TDS (Tax Deducted at Source) costs and invest long-term, Crypto exchange Bits on July 12 launched the Zero TDS mechanism on its SIP investments in cryptocurrency. Bit droplet is a platform by Bitbns that will bear the TDS for SIP investments redeemed after 12 months. Also, there is no minimum tenure for redemption.
Cryptocurrency Price Today: The global cryptocurrency market on Wednesday, July 13 continued to tumble further as it reached near the $870 million mark, while a global selloff continued just before the release of the US inflation data. Bitcoin, Ether, Dogecoin, Solana fell further south, as the global crypto market cap was standing at 872.41 billion at the time of writing this article. This was down by 1.66 per cent over the past 24 hours.“Investors are expecting stricter monetary policies from the Fed after the CPI data is released by the US Bureau of Labor Statistics. If the inflation numbers continue to rise then bitcoin may find a new lower support level which could extend the bearish sentiment in the market," said Tarusha Mittal, co founder and COO at UniFarm. “The markets will continue to remain choppy till there is some improvement in the macroeconomic factors surrounding the financial markets," Bitcoin continued to stand below the $20,000 mark on the day and did not show any significant movement over the past 24 hours. Bitcoin price today registered a value of $19,484.76 at 1211 IST, which is a plunge of 2.14 per cent over the past day.“Bitcoin continued to trade below the $20K level without any significant movement in the previous day. The trading volumes continued to remained grim across exchanged with a sentiment of fear lingering across the market. On the 4- hourly time-frame, the BTC trend is traversing within the descending channel pattern. An immediate support for Bitcoin is expected at $17,700. The daily RSI is trading close to the oversold zone," said analysts at the Wazirx trade desk
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