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

“Investors are expecting stricter monetary policies from Fed after the CPI data is released by the US Bureau of Labor Statistics. If the inflation numbers continue to rise then bitcoin may find a new lower support level which could extend the bearish sentiment in the market,” said Tarusha Mittal, co founder and COO at UniFarm. “The markets will continue to remain choppy till there is some improvement in the macroeconomic factors surrounding the financial markets,” she added.

Bitcoin persisted to stand underneath the $20,000 mark on the day and did no longer show any huge motion over the last 24 hours. Bitcoin price nowadays registered a value of $19,484. Seventy six at 1211 ist, that is a plunge of two. 14 in line with cent over the past day.

“bitcoin persisted to trade under the $20k degree with none huge motion inside the previous day. The trading volumes persisted to stay grim throughout exchanges with a sentiment of worry lingering throughout the market. At the 4-hourly time-body, the btc trend is traversing in the descending channel pattern. A direct aid for bitcoin is predicted at $17,seven-hundred. The daily rsi is buying and selling close to the oversold quarter,” stated analysts at the wazirx alternate table.“because of rising inflation, bitcoin persevered to change below america$20,000 level on tuesday.

The euro fell to its lowest stage towards the u. S. Dollar the previous day within the past twenty years, and the dollar electricity appeared to be impacting the costs inside the crypto market. If shoppers can preserve btc on the current level, we might see it returning above the united states$20,000 degree,” introduced edul patel, co founding father of mudrex. Meanwhile, ethereum expenses also remained flat at the day. Ether charge nowadays changed into additionally down by way of 2. 83 in step with cent, to stand at $1,0. 5. 68 while writing this article.

“the second one biggest cryptocurrency, ethereum broke the us$1,100 degree showing that bears are more effective than bulls. If this trend keeps, we would see eth touching the usa$1,000 degree quickly,” stated patel.