Bitcoin prices fell over 5% on Thursday and trading below
the $30,000 mark after trading above the $31,000 level in the past few
sessions. The recovery seen in the crypto market faded away on Thursday as
crypto tokens were trading sharply lower. The momentum and sentiments remained
negative, leaving no scope for the rise in the prices. Investors were reluctant
to take risks as soaring inflation and looming inflationary worries lingered.

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The global cryptocurrency market cap was trading at $1.24
trillion, down 4.60% in the last 24 hours. However, the total cryptocurrency 24
hours trading volume is $96.86 billion. Analysts have been observing that
cryptocurrencies and stocks have been moving in tandem all year. When one goes
up on any given day, the other tends to follow, and vice versa. Stocks and
Bitcoin have a close relationship, and the relationship is even stronger between
the coin and tech stocks, which can sometimes be considered more speculative in
the market.

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Bitcoin fear and greed index on Thursday, June 2, 2022,
went from the extreme fear level of 17 to the level of 13 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 $29,973.37, down by
5.03%. In the last 24 hours, the highest it touched was $31,848.82 and the
lowest was $29,501.59. Bitcoin has a current market cap of $571,173,836,411. It
has a circulating supply of 19,056,050.00. BTC coins have a maximum supply of
21,000,000 coins.

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Bitcoin daily mining revenue falls to eleven-month low in
May

Bitcoin (BTC) mining revenue and profitability have
continued to decline along with the asset’s price this year as the crypto
winter deepens. May has been one of the worst months for Bitcoin miners in the
past year as revenue and profitability continue to slide. Bitcoin daily mining
revenue tanked as low as 27% in May, according to data from Ycharts sourcing
data from Blockchain .com.

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Around 11% of US insurers invest or are interested in investing
in crypto

United States-based insurers are the most interested in
cryptocurrency investment according to a Goldman Sachs global survey of 328
chief financial and chief investment officers regarding their firm’s asset
allocations and portfolios. The investment banking firm recently released its
annual global insurance investment survey, which included responses regarding
cryptocurrencies for the first time, finding that 11% of US insurance firms
indicated either an interest in investing or a current investment in crypto.
Asia-based insurers were second in line, with around 6% interest or currently
invested, and European insurers came in at only 1%.