BTC, ETH Remain Loss-Ridden as Overall Crypto Market Continues to Lay Low

After registering small or no gains in recent days, Bitcoin seems to be tilting towards losses once again. On Friday, June 10 — a small loss of 0.91 percent kept Bitcoin's price almost unaffected. As per Indian exchange CoinSwitch Kuber, BTC's current value stands at $31,658 (roughly Rs. 24 lakh). The crypto asset also failed to see gains on international exchanges. As per CoinMarketCap and Binance, Bitcoin values are hovering around the mark of $30,000 (roughly Rs. 23 lakh) after incurring losses of up to one percent on a global level.

The value of Ether also decreased by 0.77 percent on Friday morning. As per the crypto price tracker by Gadgets 360, Ethereum is currently trading at $1,886 (roughly Rs. 1.4 lakh).

“The decline appears relatively mild compared to previous downwards marches, possibly a result of marginal seller exhaustion and a gradual easing of regulation concerns,” the research team at CoinDCX told Gadgets 360, commenting on the declines of BTC and ETH values.

With the top two cryptocurrencies facing losses, majority other cryptocurrencies with lower values also tumbled down the price charts.

These include Tether, USD Coin, Cardano, Dogecoin, and Shiba Inu.

After South Korean crypto exchanges Bithumb and Upbit issued notices on their decision to delist Litecoin from their platforms, the altcoin slipped down in value. Currently under the scanner over privacy feature concerns, Litecoin is priced at $63 (roughly Rs. 4,900) after registering a dip of 2.78 percent.

At this point, only some cryptocurrencies such as Binance USD, Solana, Polkadot, Avalanche, and Polygon managed to rope-in gains, miniscule but significant.

Despite the current slowed down market, a Global Crypto Hedge Fund Report recently said that people's interest in holding BTC and other crypto assets has not dwindled.

In fact, the retailer community in the US are accelerating efforts to drive crypto adoption in their capacity.

In a latest report, Delloite said over 75 percent retailers in the US are interested in adopting stablecoins as legit payment alternatives to dollar and cards. The interest of consumers in the crypto sector has been cited as a main reason why retail merchants in the US are looking to add the option of crypto payments.

Meanwhile, the total market cap of the crypto sector stands at $1.23 trillion (roughly Rs. 96,32,959 crore) as per CoinMarketCap.

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article. 

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