Cryptocurrency price today: Bitcoin price on Wednesday, June 1st remained steady above the $31,000 mark, following days of choppy sessions in volatile markets. Bitcoin prices have stayed above $31,000 for two straight days now. However, the global cryptocurrency market did not see much growth on the day as it remained stable at $1.30 trillion, a slight decline of 0.40% in the past 24 hours. .
Bitcoin price today fell 0.34% to $31,549.32 at the time of writing. However, he managed to hold his position above the $31,000 level. On the other hand, Ether price stood at $1,935.16 today, down 1.88% in the last 24 hours.
“Bitcoin maintained its position above the $31,000 mark. Meanwhile, institutional investors have started hoarding Bitcoin again after a few weeks of lull. According to Coinshares, a digital asset management firm, crypto assets saw an inflow of $87 million, of which Bitcoin held the bulk of around $69 million. This is also reflected in market sentiment as the fear and greed index continues to move away from the “extreme fear” zone. Bitcoin’s weekly trend has formed a descending triangle. The next resistance for BTC is expected at $40,000,” said trade desk WazirX.
“Bitcoin is up more than 5% in the past two days, coinciding with the Fed Governor’s re-emphasis on his support for rate hikes of more than half a point. Bitcoin’s longstanding narrative as a store of value and inflation hedge becomes important again as bearish buyers look back on potential value growth,” the CoinDCX research team said.
“A gloomy macro environment has generally been negative for risk assets – Bitcoin’s recent rise and its decoupling from this scenario might be worth investigating. While it is still early at this stage to call bottom, we remain bullish on the digital asset’s longer-term growth trajectory,” he added.
“Although BTC showed bullish signals, altcoins continued to underperform in comparison, indicating that investors were still taking a risk-free approach. Typically, alts underperform BTC during downtrends as investors remain cautious as they have a higher risk profile,” noted Darshan Bathija, CEO and co-founder of Vauld.
Here are the top 10 cryptocurrencies and their prices as of June 1, 2022 (According to data from coinmarketcap.com)
Bitcoin $31,549.32 or 0.34% loss in the last 24 hours
Ethereum $1,935.16 or 1.88% loss in the last 24 hours
Tether $0.9993 or 0.01% loss in the last 24 hours
USD Coin $1 or 0.01% loss in the last 24 hours
BNB $317.69 or 0.71% loss in the last 24 hours
Cardano $0.6107 or 7.07% loss in the last 24 hours
XRP $0.4161 or 0.55% loss in the last 24 hours
Binance USD $1.00 or 0.013% loss in the last 24 hours
Solana $45.03 or 3.01% loss in the last 24 hours
Dogecoin $0.08843 or 2.63% gain in the last 24 hours
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Bitcoin Price Above $31,000 But Instant Win Streak; Ether In Red – Tech Tribune France
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