Bittime - Bitcoin prices experienced a correction at the start of Asian trading on Tuesday, June 18 2024. This article will discuss in detail everything from the performance of Bitcoin (BTC) to which coins have experienced corrections recently.
Bitcoin Performance
The price of Bitcoin (BTC) plunged about 1% in the last 24 hours, dropping to as low as $65,635. This decline was driven by a combination of factors, including:
- Profit taking: Investors who have purchased Bitcoin at a recent lower price sell it to realize their profits.
- Bitcoin ETF outflows: Bitcoin exchange-traded funds (ETFs) recorded net outflows of $145 million, indicating waning interest from institutional investors.
- Strengthening US Dollar: The US dollar strengthens against other currencies, making Bitcoin and other risk assets less attractive to investors.
- Liquidation of leveraged positions: Traders using high leverage were liquidated as Bitcoin prices fell sharply, causing more selling pressure.
Check Today's Crypto Market:
Bitcoin Correction After Breaking $66,000
This decline occurred after Bitcoin managed to break through the $66,000 level, the 50-day moving average. This breakout briefly sparked hopes for a medium-term uptrend, but strong selling pressure managed to push the price back down.
BTC/IDR Price Today
According to Bittime trade data, the price of BTC/IDR today decreased -1.17%. Currently Bitcoin (BTC)/IDR is trading at Rp. 1,078,178,678.
Altcoins Also experience correction (17-18 June 2024)
- Ethereum (ETH) fell 2.7% to $3,447.18.
- Cardano (ADA) fell 6.4%.
- XRP (XRP) rose 2.1%.
- Solana (SOL) fell 4.8%.
- Dogecoin (DOGE) fell 7.6%.
- Shiba Inu (SHIB) fell 9%.
Conclusion
Overall, the crypto market showed bearish sentiment on Tuesday. Investors need to pay attention to fundamental and technical factors that could influence Bitcoin and altcoin prices in the near future.
How to Buy Crypto on Bittime
You can buy and sell crypto assets in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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