Bitcoin prices rose nearly 6% and traded above the $20,000 level as the crypto market rebounded sharply on Tuesday, July 5, 2020. Major crypto tokens were trading higher, however, the crypto Fear & Greed index remained wedged in the extreme fear territory. Analysts remain downcast about prices for at least the short term. 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 struggled this year amid Federal Reserve rate hikes and stubbornly high inflation. After crypto’s last two-year winter ended in 2020, the sector spiked to around $3 trillion in total assets last November, before slumping to less than $1 trillion. The collapse of the Terra/Luna ecosystem and the continued concern about the hedge fund Three Arrows Capital Ltd further rattled investors.

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The global cryptocurrency market cap was at $912.13 billion, up 5.52% in the last 24 hours. However, the total cryptocurrency 24 hours trading volume is $58.74 billion.

Bitcoin fear and greed index on Tuesday, June 5, 2022, went from the extreme fear level of 14 to the level of 19 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 $19,893.35, up by 3.93%. In the last 24 hours, the highest it touched was $20,405.12 and the lowest was $19,136.71. Bitcoin has a current market cap of $379,815,770,374. It has a circulating supply of 19,085,625.00. BTC coins have a maximum supply of 21,000,000 coins.

Crypto exchange Vauld suspends crypto withdrawals, seeks new investors citing financial challenges

In a blog post on July 4, Singapore-based crypto exchange Vauld said that the company has decided to suspend all withdrawals, trading, and deposits on its platform with immediate effect amidst financial challenges arising from the crypto crash and drop in volumes due to the regime in India. The firm said it is forced to search for new investors and explore restructuring options to stay afloat in the current environment. Vauld’s current investors include Coinbase Ventures, PayPal co-founder and billionaire investor Peter Thiel’s Valar Ventures, Gumi Cryptos, Cadenza Capital, CMT Digital, and Robert Leshner.

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Trading declines on India crypto exchanges as new tax is imposed

Warnings from Indian crypto exchanges that a new transaction tax would impact trading are coming true, with volumes evaporating since the tax took effect. Three exchanges – ZebPay, CoinDCX, and WazirX, suffered declines of between 60% and 87% in the value of daily trading immediately after the 1% tax-deductible at source became effective on July 1, according to data from CoinGecko. Another exchange Giottus saw a 70% decline in trading, said its chief executive officer.