Crypto news daily: Bitcoin data and price analysis for July 1, 2022

Bitcoin prices rose marginally and traded above the $20,000 level after falling below the $19,000 in the previous session. Bitcoin has been trading around the $20,000 mark after a 56% slide this year. Digital assets have struggled this month since US-based lender Celsius Network said it would suspend withdrawals. Bitcoin and Ether were further rattled by the apparent insolvency of crypto hedge fund Three Arrows Capital, which has entered liquidation. The digital token is down over 56% so far this year, and trading over 70% below its record high of $69,000 it had hit in November 2021.

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Cryptocurrencies have suffered this year amid Federal Reserve interest rate hikes and stubbornly high inflation. After crypto’s last two-year hibernation ended in 2020, the industry spiked to around $3 trillion in total assets last November, before falling to less than $1 trillion. Cryptocurrencies had been moving for months in the same direction as stocks as investors’ appetite for risk assets reduced on growing fears about an economic slowdown.

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The global cryptocurrency market cap was at $882.91 billion, down 2.08% in the last 24 hours. However, the total cryptocurrency 24 hours trading volume is $75.45 billion.

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Bitcoin fear and greed index on Friday, July 1, 2022, went from the extreme fear level of 11 to the level of 11 as per the alternative. me. The Fear and Greed index is a technique for assessing investors’ emotions toward the market.

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Bitcoin is currently trading at $19,644.31, down by 1.81%. In the last 24 hours, the highest it touched was $20,632.67 and the lowest was $18,729.66. Bitcoin has a current market cap of $374,693,757,212. It has a circulating supply of 19,082,125.00. BTC coins have a maximum supply of 21,000,000 coins.

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TikTok’s most-followed creator Khaby Lame is the new brand ambassador of Binance

Cryptocurrency exchange Binance has appointed TikTok’s most-followed creator Khaby Lame as its global brand ambassador. Khaby Lame has been signed on board on board to help Binance, the world’s largest crypto exchange in terms of trading volume, bust myths about the digital currency and Web3. It is being acknowledged as an evolutionary step ahead of the internet. There were a lot of nuances as well as misinformation around Web3, said James Rothwell, Binance’s global vice president of marketing.

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Bitcoin crash of 2022 wipes out 80,000 millionaires

More than 80,000 Bitcoin (BTC) investors have lost their millionaire status due to the crypto market downturn, but lower prices mean the number of whole coiners is growing. Back on November 12, just days after Bitcoin touched a new all-time high of around $69,000, a total of 108,886 BTC addresses reported a balance greater than $1 million, according to data from BitInfoCharts. As of June 30, with the price of Bitcoin struggling to hold above the $20,000 mark, just 25,284 addresses are reported to contain holdings valued at over $1 million, meaning that the number of paper millionaires has declined by more than 75% throughout the last nine months. There were 10,587 addresses with a minimum cash value of $10 million in November last year, a mere 4,342 hold the same status today, a decline of 58%.