Bitcoin’s Decline Amid Broad Crypto Bearish Trend as Altcoins Slump – June 18 Market Overview
- Today’s crypto market sees Bitcoin trending at $65,483, representing a 1% decline while its value in Turkish Lira is 2,211,312 TL.
- Among major altcoins, Ethereum (ETH) is trading at $3,435 after a 3.5% drop, BNB at $591 with a 1.8% decline, Ripple (XRP) down 0.6% at $0.489, and Dogecoin (DOGE) experiencing a significant 9% drop to $0.121.
- Toncoin (TON) fell by 6.5% to $7.36, and Solana (SOL) saw a 7.3% decrease to $135.7.
Explore the latest trends and analytics in the cryptocurrency markets today, as we delve into Bitcoin’s status and performance of key altcoins.
Bitcoin and Ethereum Struggle Amid Market Decline
Bitcoin is witnessing a 1% decline, trading at $65,483. Similarly, Ethereum has dropped by 3.5% to $3,435. The overall market sentiment indicates a bearish trend, affecting major altcoins.
Performance of Key Altcoins
Ethereum has experienced a notable decrease and is currently valued at $3,435. Binance Coin (BNB) is also down 1.8%, trading at $591. Ripple (XRP) is trading at $0.489 after a 0.6% decline, while Dogecoin (DOGE) faced the most significant drop of 9% to $0.121. Toncoin (TON) and Solana (SOL) have also seen declines of 6.5% and 7.3%, respectively.
Market Capitalization and Trading Volume
The total market capitalization for Bitcoin rests at approximately $1.291 trillion. In contrast, the entire crypto market is valued at around $2.48 trillion. The past 24 hours have seen a trading volume of about $115 billion, underscoring the market’s volatility.
Impact of Market Trends on Investors
In the last 24 hours, approximately $473 million has been liquidated from the crypto market, affecting over 184,000 crypto investors. The most significant liquidations have been from long positions, with Ethereum leading the list.
Forex and Its Correlation with Crypto
The Dollar Index (DXY) stands at 105.58, showing a slight upward trend of 0.30%. Meanwhile, the Euro/TL pair is down by 0.19%, trading at 35.01. The dynamics of forex rates continue to show a correlation with the crypto market movements.
Conclusion
As we observe these trends, it becomes evident that market volatility remains high. Investors must stay informed and cautious, closely watching both macroeconomic indicators and crypto-specific developments to navigate these turbulent times effectively.
