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.
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.
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.
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.
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.
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.
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.