Crypto news daily: Bitcoin data and price analysis for July 19, 2022
- Bitcoin is currently trading at $21,844.21, up by 1.76%
- The Bitcoin fear and greed index on July 19, went to the extreme fear level of 30
- The RBI is likely to announce new rules for fintech companies with respect to various aspects
Bitcoin prices fell over 1% and traded slightly below the $22,000 level on Tuesday, July 19, 2022. However, the prices saw earlier in the day breaking out of a one-month-old trading range and prompted big jumps in smaller tokens commonly referred to as altcoins.
Bitcoin has struggled to come out of a $19,000 to $22,000 range as investors lick their wounds from a rout sparked by tightening monetary policy and exacerbated by the toppling of crypto lenders and the TerraUSD stablecoin. 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.
The global cryptocurrency market cap was at $1.017 trillion, up 0.15% in the last 24 hours. However, the total cryptocurrency 24 hours trading volume is $106.23 billion.
The Bitcoin fear and greed index on Tuesday, July 19, 2022, went from the extreme fear level of 20 to the fear level of 30 as per the alternative. me. The Fear and Greed index is a technique for assessing investors' emotions toward the market.
Bitcoin is currently trading at $21,844.21, up by 1.76%. In the last 24 hours, the highest it touched was $22,795.04 and the lowest was $21,487.54. Bitcoin has a current market cap of $417,168,880,584. It has a circulating supply of 19,097,456.00. BTC coins have a maximum supply of 21,000,000 coins.
Crypto lender Celsius defends Bitcoin mining plans as bankruptcy kicks off
The New Jersey-based cryptocurrency lender Celsius Network said bitcoin mining is key to the company’s restructuring efforts at a US bankruptcy court hearing in Manhattan. Celsius received approval from US Bankruptcy Judge Martin Glenn to spend $3.7 million in construction costs at a new bitcoin mining facility and $1.5 million on customs and duties on imported bitcoin mining rigs.
RBI may tighten norms for fintechs as customer complaints increase
The Reserve Bank of India (RBI) is likely to announce new rules for fintech companies with respect to various aspects including credit operations and know your customer (KYC) norms, reported Moneycontrol. This is against the rise in complaints related to some fintechs on charging of usurious interest rates and other issues including non-compliance with KYC, anti-money laundering norms (AML), and lack of ownership disclosures.