Crypto Price Update: BTC Price At $30,000, ETH Price & Major Altcoins Plunges

Key Takeaways

• The start of the fresh weekly trade appears to be under significant bearish pressure, indicating the possibility of a bearish close for the month.
• The majority of the tokens remain stuck within the same regions as volatility diminishes along with the volume.

CRYPTO MARKET TODAY AT A GLANCE

The weekend failed to induce the required volatility in the crypto space as the global market cap continues to shuffle below $1.2 trillion. Besides, the star crypto, Bitcoin, trades just above $30,000 at $30,209.81, with a minor drop of 1.38%. The trading volume has increased by 10.08% and currently stands at $33.56 billion. Interestingly, Bitcoin dominance dropped marginally by 0.24% after maintaining a steep ascending trend, hovering just below 50%.

Amid the bearish market sentiments prevailing within the markets, some of the tokens like Aave (AAVE) rose by 16.32%, Pancakswap (CAKE) surged by 12.32%, followed by Uniswap (UNI) by 12.18%, Synthetic (SNX) by 10.65%, and Apecoin (APE) by 5.72%. Besides, some of the losers include Kava (KAVA) with a drop of 11.49%, Bitcoin Cash (BCH) by 10.74%, Zilliqa (ZIL) by 7.94%, Avie Infinity (AXS) by 6.26% and Ethereum Classic (ETC) by 5.79%. 

*As of 26-June-2023, 09:15 am

Bitcoin Prices Remain Stagnant, Drop Slightly by 1.57%

Source: Tradingview

Bitcoin continued to trade without any major price action during the past weekend as the prices hovered within the same range. Besides, the price experienced a minor downswing, being restricted below $30,500. The BTC technical analysis suggests the price is subjected to a descending consolidation, holding above the crucial support at $29,949.97. However, if the bearish action surges, the price may drop below these levels, beginning a fresh bearish trend. 

The price displays the possibility of a bearish reversal in the short term, but in the long term, the price flashes bullish signals. The trend remains within an ascending triangle, approaching the apex of the consolidation. The bulls appear to be passive right now, but in the longer time frame, the price is believed to trigger a bullish breakout, surpassing the yearly ATH at $31,800. Hence, the Bitcoin price prediction for the month remains largely stagnant but may tend to flip and trigger a slight upswing during H2 2023.

Read More: Bitcoin Price Prediction

Ethereum Price Losses $1900 Mark, Plunges by 1.39%

Source: Tradingview

The crypto markets encountered a stagnant trend during the weekend, keeping the Ethereum price consolidated below $1900. The volume maintains decent levels, due to which the volatility of the price has also been reduced to a large extent. Therefore, the price is expected to remain stable within a narrow region for the next few days and wait for a bullish push that may intensify the upswing and reach beyond $1900 initially. 

Besides, the bulls maintain their calmness, which suggests the price will continue with a sideways trend in the short term. However, in the longer time frame, the ETH price continues to remain under bullish influence. The price continues to remain within a symmetric triangle and accumulates strength until it reaches the apex. Further, a bullish breakout could be imminent, lifting the price above $2000 in a few weeks. Hence, the Ethereum technical analysis and Ethereum price prediction both indicate a sideways trend for the token in the short term.

Know More: Ethereum Price Prediction

Latest Updates of the Crypto Market

• Despite a positive update unveiled by the Shiba Inu founder, Ryoshi, the token’s transaction volume declined heavily but rose by 150% during the start of the week.
• Ripple CTO David Schwartz ended the speculation over the rumors of Ripple buying back 10 billion XRP, clarifying that Ripple does not engage in XRP purchases.
• The number of Bitcoin’s large holders has been steadily increasing. Without any exchange involvement, addresses owning 0.1% or more of the tokens recently reached an ATH. 

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