Jakarta, CNBC Indonesia– Major crypto prices moved lower on Saturday (6/18/2022) trading, indicating that trader still doing selling action in the crypto market.
Launch data fromCoinMarketCap at 12:50 WIB today, Bitcoin weakened 1.96% to a price level of US$ 20,415.36/coin or equivalent to Rp. 302,576.050/coin (assuming an exchange rate of Rp. 14,821/US$), Ethereum corrected 2.27% to the level of US$ 1,077.33/coin or Rp. 15,967,107/coin.
Next of several alternative digital coins (tokens) (altcoin) as BNB fell 2.42% to US$ 211.82/coin (Rp 3,139,384/coin), Cardano fell 1.9% to US$ 0.4848/coin (Rp 7,185/coin), and XRP fell 2 .9% to US$ 0.32/coin (Rp 4,742/coin).
The following are the movements of the 5 main cryptocurrencies besides stable coin Today.
|
Cryptocurrency |
Code |
In US Dollars |
In rupiah |
Daily Change (%) |
Change of Week (%) |
|
Bitcoin |
BTC |
20.415,36 |
302.576.050 |
-1,96% |
-30,29% |
|
Ethereum |
ETH |
1.077,33 |
15.967.108 |
-2,27% |
-35,49% |
|
Binance Coin |
BNB |
211,82 |
3.139.384 |
-2,42% |
-26,55% |
|
Cardano |
ADA |
0,4848 |
7.185 |
-1,90% |
-17,71% |
|
XRP |
XRP |
0,3199 |
4.741 |
-2,90% |
-16,99% |
Source:CoinMarketCap
From the data above, in the past week, all major cryptocurrencies corrected.
Ethereum plunged 35.49% and became the biggest major cryptocurrency to lose. Followed by Bitcoin (BTC) which fell 30.29% to reach the level of US $ 20,000. In fact, on Thursday (16/6), Bitcoin had strengthened to around US$22,000.
Global macroeconomic conditions that are still unclear in their direction have become one of the negative capitalists in the crypto market this week.
It started with the aggressive stance of the United States (US) central bank (Federal Reserve/The Fed) by raising its benchmark interest rate this week and was followed by other central banks around the world, such as the Bank of England (BOE) and the Swiss National Bank (SNB).
This raises concerns that attitudes hawkish the major central bank will slow the growth of the US economy to push it to the brink of recession.
When the global economy is in a downturn, risky assets are usually avoided, causing crypto prices to plummet.
US stock market plunged to bear market (the downturn zone) is also often referred to as the crypto winter. That is, there is a cycle bearish in a crypto market that lasts for a long time.
Not only that, it seems that investors are still overshadowed by the fall of two tokens Terra Luna (LUNA) and TerraUSD (UST) at the beginning of last month which triggered chaos in the crypto market to experience crash.
In addition, there is a liquidity crisis from the largest crypto lending company, Celsius Network.
Earlier this week, Celsius stopped withdrawing funds, preventing its customers from withdrawing funds from the company.
The same thing happened on the world’s largest crypto exchange, Binance. However, Binance has confirmed that the discontinuation of the withdrawal of investors’ funds occurred due to technical problems or system problems, not the will of Binance management.
This sparked fears that this case could affect other similar companies, and even affect crypto exchanges. Investors also think that this crisis could bring Celsius to the brink of bankruptcy.
CNBC INDONESIA RESEARCH TEAM
Next Article
Geopolitical Tension Begins to Drop, Cryptocurrencies are Hunted Again
–
–
(aaf/aaf)
–
