{"id":31295,"date":"2022-06-30T10:25:07","date_gmt":"2022-06-30T14:25:07","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=31295"},"modified":"2022-06-30T10:25:11","modified_gmt":"2022-06-30T14:25:11","slug":"crypto-market-loses-55b-as-market-plummets","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/crypto-market-loses-55b-as-market-plummets\/","title":{"rendered":"Crypto Market Loses $55B As Market Plummets"},"content":{"rendered":"\n<p>As the <a href=\"https:\/\/coinscreed.com\/staging\/crypto-market-crash-affects-sports-sponsorships-for-crypto-firms.html\">crypto market<\/a> continues to plummet the market has lost $55 billion as Bitcoin and ETH dived below $19K and $1,023 respectively<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img fetchpriority=\"high\" decoding=\"async\" width=\"602\" height=\"452\" src=\"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/06\/image-238.png\" alt=\"Crypto Market Loses $55B As Market Plummets\" class=\"wp-image-31301\" srcset=\"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/06\/image-238.png 602w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/06\/image-238-300x225.png 300w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/06\/image-238-150x113.png 150w\" sizes=\"(max-width: 602px) 100vw, 602px\" \/><figcaption>Crypto Market Loses $55B As Market Plummets<\/figcaption><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-crypto-market-plummets\">Crypto Market Plummets<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-btc\">BTC<\/h3>\n\n\n\n<p>On Thursday, <a href=\"https:\/\/coinscreed.com\/staging\/80000-bitcoin-millionaires-wiped-out-by-2022-crypto-market-crash.html\">Bitcoin<\/a> plunged below the $19,000 mark once more, targeting the crucial support level established on June 18 as the cryptocurrency market tries to recover from the <a href=\"https:\/\/coinscreed.com\/staging\/bear-market-will-persist-until-crypto-apps-become-useful-mark-cuban.html\">bear<\/a> market zone.<\/p>\n\n\n\n<p>At 0930GMT, the price of Bitcoin plunged to $18,921, its lowest point since December 2020. The largest cryptocurrency in the world by market cap was down 4.8 percent on the day as of 1225 GMT, trading at $18,123.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-crypto-market-eth\">Crypto Market: ETH<\/h3>\n\n\n\n<p>By market value, <a href=\"https:\/\/coinscreed.com\/staging\/anchorage-introduces-institutional-investors-to-ethereum-staking.html\">Ethereum<\/a> is the largest altcoin in the world. At 11:15 GMT, its price fell to $1,011. At 12:25 GMT, it was trading at about $1,023.<\/p>\n\n\n\n<p>As of 1055GMT, the market's overall value was $852 billion, down $55 billion (or 6%) from the $907 billion it had been at 1507GMT on Wednesday. At 12:25 GMT, the total value was approximately $854 billion, representing a daily loss of 5.1 percent.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-rate-hike-cycle-and-inflation\">Rate Hike Cycle and Inflation<\/h2>\n\n\n\n<p>The market's entire value has decreased dramatically from the $3 trillion market cap that was recorded in November.<\/p>\n\n\n\n<p>The recent selloff is a result of the central banks' recent aggressive rate hike cycle, which has investors worried that monetary tightening may lead to a global economic recession.<\/p>\n\n\n\n<p>Managing high inflation could and probably will result in slower economic development, according to <a href=\"https:\/\/coinscreed.com\/staging\/the-us-federal-reserve-chairman-says-the-agency-is-undecided-about-a-digital-dollar.html\">US Federal Reserve<\/a> Chair Jerome Powell, while Christine Lagarde, president of the European Central Bank, said she doesn't think the world is returning to a time of low inflation.<\/p>\n\n\n\n<p>\u200b\u200b\u200b\u200b\u200b\u200b\u200b<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As the crypto market continues to plummet the market has lost $55 billion as Bitcoin and ETH dived below $19K and $1,023 respectively Crypto Market Plummets BTC On Thursday, Bitcoin plunged below the $19,000 mark once more, targeting the crucial support level established on June 18 as the cryptocurrency market tries to recover from the [&hellip;]<\/p>\n","protected":false},"author":29,"featured_media":31301,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[26],"tags":[5805,5392],"class_list":["post-31295","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrencies","tag-crypto-market-2","tag-cryptocurrency-2"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/06\/image-238.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/31295","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/29"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=31295"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/31295\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/31301"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=31295"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=31295"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=31295"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}