1 week ago

Crypto news daily: Bitcoin data and price analysis for June 22, 2022

Bitcoin is currently trading at $20,191.90, down by 4.64%
Bitcoin fear and greed index on June 22, went to the extreme fear level of 11
BlockFi signs $250 million revolving credit agreement with FTX

Bitcoin prices fell nearly 5% and traded below the $21,000 mark on Wednesday 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.

Also Read | Top 5 cryptocurrencies of the day: BTC down by 4%, LUNC trends at no. 1

Several Bitcoin investors have been selling in this environment as prices continued to fall over the past few months. The coin over the weekend dropped around $17,700, the lowest level since the end of 2020. Overall, digital-asset investment products saw outflows of around $39 million last week, with total assets now at their lowest level since February 2021, according to Coinshares data.

Also Read | New debit card, credit card tokenisation rules from July 1: Explained

The global cryptocurrency market cap was at $886.66 billion, down 3.94% in the last 24 hours. However, the total cryptocurrency 24 hours trading volume is $69.31 billion. The Crypto market was trading mixed on Wednesday amid a lack of fresh triggers. However, investors preferred profit booking than raising their hopes about a long-term rebound.

Also Read | India inflation down by 0.75%: What it means for consumers

Bitcoin fear and greed index on Wednesday, June 22, 2022, went from the extreme fear level of 9 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.

Also Read | Explained: The impact of bond yields on markets and investors

Bitcoin is currently trading at $20,191.90, down by 4.64%. In the last 24 hours, the highest it touched was $21,620.63 and the lowest was $20,045.63. Bitcoin has a current market cap of $385,413,475,108. It has a circulating supply of 19,073,943.00. BTC coins have a maximum supply of 21,000,000 coins.

Also Read | Explained: Impact of RBI's repo rate hike on deposits, loans

Crypto exchange Vauld lays off 30% of staff, in a move to cut costs

Crypto exchange Vauld has laid off 30% of its workforce, reported MoneyControl. Roles impacted include marketing, talent acquisition, and others, said Darshan Bhatija, co-founder and CEO of the exchange. "Two months of their salaries paid as a severance payment and retain their signing and/or joining bonus, 12 months health insurance for them and their family, and our talented team working closely with them to find a great place to work," he said. The company will also be looking at reducing marketing expenses, slow hiring, reducing executive compensation by 50%, and pausing most vendor engagements.

Also Read| Impact of US Feds' biggest rate hike since 1994 on India

BlockFi signs $250 million revolving credit agreement with digital asset exchange FTX

Crypto firm BlockFi has signed a term sheet with digital asset exchange FTX for a $250 million revolving credit facility, CEO Zac Prince, said in a tweet. BlockFi will get access to capital amid a fiasco in the digital currency market. Last week, the company said it was reducing its headcount by about 20%, in addition to implementing other cost-cutting measures like reducing marketing spending and executive compensation.

#Cryptocurrency #Bitcoin #Business #Digital #Markets

Crypto news daily: Bitcoin data and price analysis for June 22, 2022

Trending on Opoyi