Bitcoin Prices Back Above INR 17 Lakh, Is It a Recovery or A Dead Cat Bounce?
Markets appear in a better position compared to that of the previous day’s trade hoping for a notable recovery ahead. However, the bulls and the bears are displaying equal strength from the past couple of days which may result in a steep price action regardless of direction by the weekend. Until the BTC & ETH prices do not reach INR 20 lakh and INR 1.10 Lakh, the markets could remain uncertain.
The top 2 cryptos registered more than 2% jump while the other assets like Cardano(ADA), Ripple(XRP), Solana (SOL) & Polkadot (DOT) surge by 11.74%, 6.77%, 18.70% & 11.34%. Altcoins like Basic Attention Token(BAT) tops the leaderboard with 22.72% followed by Elrond by 22.13% & Helium (HNT) by 20.44%. Popular tokens like TerraClassic (LUNC) & Celsius Network (CEL) trade at +2.65% & -1.70% resp.
CRYPTO PRICES TODAY
| Price Trend | Price for June 16, 2022 | Percentage change |
| The global crypto market cap | $949,843,832,687.508 | – |
| The total crypto market volume | $123,210,293,585.39 | – |
| Bitcoin Price | $22,120.44 | +4.40% |
| Ethereum Price | $1,196.26 | +4.83 |
*All prices are latest by 10:30, 16 June 2022.
Check out the Latest Crypto Prices, Charts, and Data of your favorite coin.
CRYPTO PRICE PREDICTION FOR THE DAY
Monero (XMR)
The Monero (XMR) price currently is extremely bearish in all the time frames. As the price has dropped below the crucial levels, the possibility of a rebound is pretty less. Moreover, the indicators heavily point out toward ‘sell’, with less volatility and hence the descending consolidation may continue for a long. Therefore, after shedding massive gains, the asset may rebound firmly as the market conditions settle out which may take a couple of months.
Additional Read: Monero Price Prediction in Detail
TOP GAINERS AND LOSERS TODAY
TOP 3 CRYPTO GAINERS
| Crypto | Price* | Percentage Change |
| Ox () | INR 25.46 | +30.61% |
| Elrond eGold | INR 4,531.23 | +24.26% |
| Basic Attention Token (BAT) | INR 28.37 | +23.51% |
*All prices are latest by 10:30, 16 June 2022.
TOP 3 CRYPTO LOSERS
| Crypto | Price* | Percentage Change |
| Binance USD (BUSD) | INR 82.50 | -0.88% |
| USD Coin (USDC) | INR 82.50 | -8.03% |
| Tether (USDT) | INR 82.39 | -0.81% |
*All prices are latest by 10:30, 16 June 2022.
Crypto Market Buzz
BTC jumps to 22.5k after Federal Reserves raise Basis Point Rate to 75
The U.S Federal Reserves raise the basis point rate to 75 to tackle the ongoing inflation. The markets further tanked after rumours were spread about the possibility of Three Arrows Capital shutting down. BTC spiked to 22,500 $ for a brief period. Altcoins too saw a slight uptrend after the Federal Open Market Committee (FOMC) meeting.
Source: Cointelegraph
After El Salvador now Brazil seeks to Recognize Bitcoin, Crypto as Legal Financial Assets
Amidst a bloodbath, positive news on crypto is spiraling back. Brazil is considering accepting crypto payments. In the latest bill presented by Paulo Martins, federal deputy BTC and other crypto assets have been added to be considered for adoption. The adoption may not include Bitcoin and crypto assets as legal tender but it can be used to make borderless payments and pay in crypto for the exchange of goods and services.
Source: Crypto Potato
Web3 News Global
Another luxury brand ‘TagHeuer’ joins the NFT club
Luxury brands have been experiencing the thrill of representing their brand in the web3 space. The brand started accepting crypto payments last month. The Swiss watch brand has released an NFT collection for its latest exclusive collection of watches. This announcement came in after their partnership with Ledger. The new range of watches will be compatible with Metamask wallets.
Source: The Block
NEW COIN LISTING ON COINDCX
| New Coin | Market Capitalization | Circulating Supply |
| SKALE Network (SKL) | $206,470,287 | 3.53B SKL |
| Livepeer (LPT) | $194,583,339 | 24,009,412.99 LPT |
| Moonbeam (GLMR) | $254,362,831 | 298,041,627.00 GLMR |
| Band Protocol (BAND) | $205,638,643 | 3.53B SKL |
*All prices are latest by 11:30, 16 June 2022.
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