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Crypto Crash Latest News: BTC Price can drop below INR 15 lakh

BTC Price

Crypto Space in the Middle of a Bearish Trend! BTC Price Could Plunge Below INR 15 Lakhs

Bears dominate the crypto space and drag the top 2 tokens down by nearly 15% each since the beginning of the day’s trade.  On the other hand, the altcoins are also plunging significantly but with less intensity compared to that Bitcoin & Ethereum. Therefore, the bears are expected to drag the BTC price below INR 15 lakh where-in the asset may find a base to rebound finely.

The top crypto assets like BinanceCoin (BNB), Cardano (ADA), XRP(XRP), Solana (SOL) & Dogecoin (DOGE) plunge by 8.55%, 0.57%, 5.15% & 1.85% respectively. On the other hand, some altcoins like Kadena (KDA), Gala (GALA), Fantom (FTM), Theta Network(THETA), etc surge magnificently by 20.76%, 15.91%, 14% & 11.07% resp at the press time. 

CRYPTO PRICES TODAY 

Price Trend  Price for June 14, 2022  Percentage change 
The global crypto  market cap  $945,421,512,839
The total crypto market volume $156,028,137,035
Bitcoin Price $23,007.41 -10.42%
Ethereum Price  $1,226.42 -9.62%

*All prices are latest by 11:00, 14  June 2022.

Check out the Latest Crypto Prices, Charts, and Data of your favorite coin.

CRYPTO PRICE PREDICTION FOR THE DAY

Bitcoin (BTC)

Bitcoin price opened the weekly trade with a huge bearish note and hence it is believed the trend throughout the week may remain bearish. However, some relief may be expected during the mid-week, but it may only be a short-lived one, as the BTC price may continue to drop throughout this week.

The BTC price broke down below the crucial support close to INR 22 lakh and hence only if it regains these levels, a drop below INR 18 Lakh may be prevented. However, the last point of defense at INR 20 lakh has been rejected at the moment and therefore, the bears may hold control over the next couple of days.

Now, even if the prices rebound, the impact of the flip may be extremely less as the bulls could remain off the track for some time.

Additional Read: Bitcoin (BTC) Price Prediction in detail

TOP GAINERS AND LOSERS TODAY

TOP 3 CRYPTO GAINERS  

Crypto Price* Percentage Change
Fanton (FTM) INR 20.72 +16.18%
Theta Token (THETA) INR 99.13 +14.52%
Gala (GALA) INR 5.30 +12.68

*All prices are latest by 11:00, 14  June 2022.

TOP 3 CRYPTO LOSERS 

Crypto Price* Percentage Change
Alpaca Finance (ALPACA) INR 17.71 -26.42%
Monero (XMR) INR 10,486.02 -15.32%
Klaytn (KLAY) INR 20.14 -12.48%

*All prices are latest by 11:00, 14  June 2022.

Crypto Market Buzz

Crypto Crash: Don’t Panic, this is not the first time.

Markets go through expansion and contraction just the way a human breathes. The highs and los of the market indicates that it has life. Bitcoin has dropped below $ 26,000 but lest not forget that the coin has experienced cycles like this before and has bounced back even stronger. If one looks at the history of finance, the markets have tanked to 90% and have survived and bounced back. The key to surviving a market shakedown is staying invested for a longer tenure.     

Source: BeinCrypto

Web3 News Global

Goldman Sachs took charge of the First Ever Eth Derivative Trade

The investment behemoth Goldman Sachs followed its schedule to execute the first Ether derivative trade for investors to get indirect exposure of the crypto that ranks second just after BTC. The bank was the first to offer BTC linked derivatives and now they have chosen the second best crypto asset Ether just after it went more in the red. The counterparty of the trade is Marex Financial. 

Source: Crypto Potato 

El Salvador, MicroStrategy and Tesla Lose over $1.3 Bn in BTC 

Amidst the crypto crash taking over the investor’s significant chunk, whales like Tesla, El Salvador who adopted BTC as a legal tender took the bullet. MSTR took the biggest hit of all.  According to CoinDesk, MicroStrategy alone lost $ billion as BTC tanked at $22,900 on Monday. The CEO commented on the loss saying ‘It’s not a bother

While MSTR and Tesla may stay calm during this storm, El Salvador may have a shaky time dealing with the crypto crash as Bitcoin is a legal tender in the country with a total of 2,301 BTC which was valued at $101 mn, which is now worth $54 million.

Source: CoinGape 

NEW COIN LISTING ON COINDCX 

New Coin Market Capitalization Circulating Supply
BAND Protocol (BAND) $47,659,913 35,191,821.00 BAND
Livepeer (LPT) $204,707,459 23,996,180.73 LPT
Moonbeam (GLMR) $269,583,155 297,793,845.00 GLMR
SKALE Network (SKL) $184,635,259 3.53B SKL

*All prices are latest by 11:00, 14  June 2022.

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