Crypto Price Today Live: Bitcoin breaches $20,000; Ethereum, Tether fall

economictimes.indiatimes.com:

Crypto tokens were mixed in the early hours of Tuesday, with Bitcoin slipping below the $20,000 mark. Meanwhile, the fear of further selloff in the crypto cart lingered. Crypto traders are still looking ahead to Wednesday's release of June’s Consumer Price Index, the measure of US inflation, for clues on how aggressive the Federal Reserve will need to be to slow the pace of consumer price rises. Barring Shiba and Unus Sed Leo, all other crypto tokens were trading marginally lower on Tuesday. However, the losses were capped in all tokens.

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In the wake of the crypto market crash, the prices of hardware used to support the mining of crypto assets are also falling dramatically. For example, a high-end graphic card is now almost 45% cheaper compared to its price a few months ago.

The global cryptocurrency market cap was trading lower at the $888.98 billion mark, dropping more than 3 per cent in the last 24 hours. However, the total cryptocurrency trading volume dropped over a per cent to $53.63 billion.Expert takeBitcoin dropped below the $20,000 level as prices continued to slip for another day, said Edul Patel Co-Founder CEO of Mudrex. «We might see BTC falling to $18,000 as bearish sentiment persists in the market.» The crypto market along with the traditional financial markets has been under tremendous selling pressure due to the rising inflation and growing geopolitical uncertainty, said Shivam Thakral, CEO, BuyUcoin. «The metaverse tokens also faced some heat from a broader sell-off in the crypto market with popular metaverse tokens such as Decentraland, The Sandbox, Axie Infinity, and Enjin Coin falling sharply,» he added.Global updates