Cryptocurrency prices on June 12: Bitcoin falls below $67.5K ahead of Fed policy decision
As of 12:16 am IST, Bitcoin was trading 0.5% lower at $67,337, while Ethereum dropped 0.9% to $3,519. Concurrently, the global cryptocurrency market cap also saw a 0.65% decline, hovering around $2.45 trillion in the last 24 hours.
«With all eyes on US CPI Data and Fed interest rate decision today, the crypto market has already taken a beating with Bitcoin holding fort at $66,000. With the market expecting no rate cuts in the US, any sign of a rate cut could drive the market to bullish territories yet again,» said CoinSwitch Markets Desk.
On a similar line, Shivam Thakral, CEO of BuyUcoin, said, «The crypto market witnessed a marginal decline with BTC slipping below the $68,000 mark while Ethereum changed hands below the $3,600 level. If the Fed decides to cut the interest rate after encouraging inflation data, we can expect an upward trajectory in the overall crypto market.»
Did you Know?
The world of cryptocurrencies is very dynamic. Prices can go up or down in a matter of seconds. Thus, having reliable answers to such questions is crucial for investors.
View Details»Also Read: Is Bitcoin still undervalued? What will drive BTC’s growth to cross $100,000 levels
Meanwhile, altcoins and meme coins like BNB (-0.6%),
