Bitcoin price reached an 18-month low
By the end of last week, bitcoin was worth about 30 thousand dollars, but on June 10, against the backdrop of news about the problems of the US economy, it fell, and on the 13th, its price plunged lower than 23 thousand.
The night from June 13 to June 14 was very unfortunate for bitcoin and other cryptocurrencies. The bitcoin price fell to $23,000, and the second cryptocurrency - Ethereum, is now worth about $1,200.
As of this writing, Bitcoin was worth $23,048. Over the weekend, the coin lost over 13%, and the price continued to decline.
Source: Whitebit.com
The same is observed with Ethereum - the coin has depreciated, and now its price is hovering around $ 1,211. The loss was around 13%.
Source: Whitebit.com
Following the two largest cryptocurrencies in the world, the rest of the market went down. So, Solana showed a percentage drop of more than 13%, and Dogecoin by 16%.
The total market capitalization amounted to less than $1 trillion. In trading, the Bitcoin dominance index was about 45%, Ethereum - 15.1%. The futures market share fell by more than $500 million. Coinglass published information about this. Also, according to their data, the index of fear in the crypto industry has grown to 11 points “Excessive fear”.
Experts agree that this fall is due to the negative situation around economic news in the United States. At the same time, MicroStrategy CEO Michael Saylor tweeted on June 10 that inflation has not yet reached its bottom. Earlier, he stated that over the past year, there have already been 3 collapses of bitcoin when the coin went down in price from 60 to 30 thousand dollars and regained its position after a while. In turn, the founder of Galaxy Digital, Mike Novogratz, back in May of this year, said that in the few coming quarters, the volatility of cryptocurrencies would be very high due to the negativity on Wall Street.
