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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