Bitcoin Flat at $19,000; Ether, Dogecoin Remain in Red

Cryptocurrency Price Today: The international cryptocurrency market on Wednesday, July 13 continued to tumble similarly as it reached near the $870 million mark, while a world selloff continued just earlier than the release of the US inflation data. Bitcoin, Ether, Dogecoin, Solana fell further south, as the international crypto market cap was standing at 872.41 billion at the time of writing this article. This was down by means of 1.66 per cent over the past 24 hours.

“Investors are expecting stricter financial policies from Fed after the CPI data is launched by the US Bureau of Labor Statistics. If the inflation numbers continue to upward push then bitcoin may find a new decrease support level which may want to extend the bearish sentiment in the market,” said Tarusha Mittal, co founder and COO at UniFarm. “The markets will proceed to remain choppy until there is some improvement in the macroeconomic factors surrounding the monetary markets,” she added.
Bitcoin continued to stand below the $20,000 mark on the day and did now not show any significant motion over the past 24 hours. Bitcoin price nowadays registered a value of $19,484.76 at 1211 IST, which is a plunge of 2.14 per cent over the past day.

“Bitcoin persisted to trade below the $20K stage without any significant motion in the previous day. The trading volumes persevered to remain grim across exchanges with a sentiment of worry lingering across the market. On the 4-hourly time-frame, the BTC trend is traversing inside the descending channel pattern. An immediate support for Bitcoin is anticipated at $17,700. The daily RSI is trading shut to the oversold zone,” said analysts at the WazirX trade desk.

“Due to rising inflation, Bitcoin persevered to trade below the US$20,000 stage on Tuesday. The euro fell to its lowest level against the U.S greenback yesterday in the past twenty years, and the greenback strength seemed to be impacting the costs in the crypto market. If buyers can hold BTC at the modern-day level, we might see it returning above the US$20,000 level,” added Edul Patel, co founder of Mudrex.

Meanwhile, Ethereum fees also remained flat on the day. Ether price nowadays was also down by using 2.83 per cent, to stand at $1,055.68 while writing this article.

“The second greatest cryptocurrency, Ethereum broke the US$1,100 level showing that bears are greater powerful than bulls. If this trend continues, we would possibly see ETH touching the US$1,000 level soon,” said Patel.

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