Cryptocurrency price on June 19: Bitcoin rises above $65.5k on Fed rate cut expectations, Ethereum up 3%
At 12:16 am, BTC was trading 0.2% higher at $65,568, while Ethereum rose 3.6% to $3,560. Meanwhile, the global cryptocurrency market cap also surged by 1% to around $2.38 trillion in the last 24 hours.
U.S. retail sales barely rose in May and figures for the prior month were revised considerably lower, data showed on Tuesday, suggesting economic activity remained lacklustre in the second quarter.
The data led to a small boost in rate cut expectations for September with traders pricing in a 67% chance of easing compared with a 61% chance a day earlier, CME FedWatch tool showed. Markets are pricing in 48 basis points of cuts this year.
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View Details»Other popular cryptocurrencies, including BNB, Solana, XRP, Dogecoin, Cardano, Shiba Inu, Avalanche, Chainlink, and Uniswap, surged by up to 5%, while Toncoin and Monero experienced declines of up to 4%.
The volume of all stablecoins is now $81.6 billion, which is 93.15% of the total crypto market 24-hour volume, as per data available on CoinMarketCap.
In the last 24 hours, the market cap
