Cryptocurrency Price Today: Bitcoin Fails to See Noticeable Gains, Most Altcoins Hit with Losses

The cryptocurrency market is experiencing volatility, with most altcoins experiencing price corrections. On Tuesday 11 June, Bitcoin recorded a loss of up to 1.95% on both national and international stock exchanges. On Indian exchanges like CoinSwitch and WazirX, Bitcoin is hovering around the price of $72,653 (roughly Rs. 60.6 lakh). Meanwhile, the asset is trading at $68,049 (around Rs. 56.8 lakh) on foreign platforms like CoinMarketCap. On Tuesday, most other cryptocurrencies fell behind Bitcoin on the losing side of the cryptocurrency chart.

Ether recorded a loss of less than 1% in the last 24 hours. At the time of writing, Ether is trading at $3,233 (around Rs. 2.70 lakh) on Indian exchanges, while its price on international exchanges stands at $3,560 (around Rs. 2.97%).

“The recent price decline has spurred buying activity primarily from institutional investors as digital assets prepare for the next bull run. Regulatory developments and positive macroeconomic factors could lead to greater momentum in the second half of 2024,” Shivam Thakral, CEO of BuyUcoin, told Gadgets360. “Bitcoin-led investment activity added over $1.97 billion ( around Rs 16,448 crore) in inflows, while Ethereum witnessed its best performance since March adding nearly $70 million (around Rs 584 crore) in inflows as per Coinshares data.”

Bind, Solana, Ripple, Dogemoneta, CardanAND Shiba Inu recorded losses along with Bitcoin and Ether.

They joined these Avalanche, Polka dot, Chain shirt, Close to the protocol, PolygonAND Cosmos.

The overall cryptocurrency market capitalization fell by 2.36% in the last 24 hours. With this, the industry’s valuation currently stands at $2.49 trillion (approximately Rs. 2,07,90,379 crore), data from CoinMarketCap shown Tuesday.

Only a handful of cryptocurrencies managed to see gains. These included Binance coin, Currency in USD, Tron, LeoAND Iota.

“The broader altcoin market is showing a bearish trend. The recently launched memecoin did NOT suffer the most, being down 14% as people booked profits from TON’s main memecoin. Another popular memecoin, PEPE, also fell by 9% with overall cryptocurrency market liquidations in 24 hours reaching more than $150 million (around Rs. 1252. crore) according to Coinglass data,” CoinSwitch said Markets Desk at Gadgets360.

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