- The main cryptocurrency lost 1% per day
- But trading above $30,000
- Overnight, the market experienced a number of important news
Bitcoin and many altcoins start this morning with a correction. Well BTC $30,188 bitcoin BTC -0.88% market cap $586b Vol. 24N $4.5b lost about 1% and is trading at $30,143.27. At the same time, its dominance remains at a high level above 50%.
Ethereum fell 1.5% to $1,835. It lost about 2.5% in a week. All other top 10 cryptocurrencies are also trading below yesterday’s prices. Cardano and Ripple coins have the most losses. They recorded a drop of more than 3%.
One of the factors of market weakening was yesterday’s speech by Joe Biden. He stated that he “plans to make the economy fairer by eliminating tax loopholes for crypto traders and hedge fund managers.” This raised the fear of new crypto crackdowns in the US.
The second important piece of news came from MicroStrategy. They stated What between April 29 and June 27, the company and its subsidiaries together purchased approximately 12,333 BTC for $347 million. The average purchase price was $28,136 per bitcoin. This transaction increased the total amount of BTC in the company’s reserves to 152,333.
Also, the growth of the dollar index (DXY) is pressing on the crypto market. It climbed 0.35% yesterday on expectations of an interest rate hike. DXY hit around 103.00, the highest close of the day in two weeks.