Crypto news daily: Bitcoin data and price analysis for June 21, 2022
- Bitcoin is currently trading at $21,127.15, up by 4.49%
- Bitcoin fear and greed index on June 21, remained at the extreme fear level of 9
- ProShares set to launch first short Bitcoin ETF on NYSE
Bitcoin prices surged over 5% and are trading above the $21,000 mark on Tuesday after a turbulent week saw the world’s largest cryptocurrency plunge below the $20,000 level for the first time since 2020. The digital token is down over 52% so far this year, and trading over 70% below its record high of $69,000 it had hit in November 2021.
Realized losses on Bitcoin holdings reached a record $7.3 billion last week, Glassnode said in a report Monday. “With forced sellers appearing to drive much of the recent sell-side, the market might begin to eye whether signals of seller exhaustion are emerging over the coming weeks and months," the report said.
The global cryptocurrency market cap was at $925.86 billion, up 5.73% in the last 24 hours. However, the total cryptocurrency 24 hours trading volume is $75.70 billion. Crypto markets saw a strong recovery from the weekend losses. However, woes for the digital token market continued to spook traders are indicated by the muted volumes. Digital assets have been selling off all year along with other risky holdings as global central banks have shifted to hiking interest rates to quell soaring inflation.
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Bitcoin fear and greed index on Tuesday, June 21, 2022, remained at the extreme fear level of 9 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 $21,127.15, up by 4.49%. In the last 24 hours, the highest it touched was $21,195.15 and the lowest was $19,905.48. Bitcoin has a current market cap of $404,370,876,238. It has a circulating supply of 19,072,993.00. BTC coins have a maximum supply of 21,000,000 coins.
Blockchain company MetaJuice to launch NFT marketplace
Blockchain company MetaJuice, a subsidiary of Together Labs on June 21 announced to launch the NFT marketplace in the IMVU metaverse, an avatar-focused social network, having more than 1 million daily active users. MetaJuice has partnered with IMVU creators for its inaugural collection of wearable in-world apparel NFTs, harnessing the power of the existing IMVU community. “The NFT marketplace will unlock new functionality our users are excited about, providing our 200,000 creators even more ways to earn. Introducing scarcity, proof of ownership, and ancillary benefits to virtual goods will supercharge the IMVU economy,” said Daren Tsui, CEO of Together Labs, the parent company of IMVU.
ProShares set to launch first short Bitcoin ETF on NYSE
ProShares is set to launch the United States’ first exchange-traded fund (ETF) that will allow investors to bet against bitcoin (BTC) prices and hedge their crypto investments, reported CoinDesk. The company said that the ProShares Short Bitcoin Strategy is designed to deliver the inverse of bitcoin’s performance and will start trading on the New York Stock Exchange (NYSE) from June 21 under the ticket BITI. It may “prove pertinent” given the current crypto downslide, the report added.