Cryptocurrency prices on June 14: Bitcoin falls below $67,000; Altcoins decline 3%

"Bitcoin dropped to $66,000 as investors and traders reacted to a hawkish interest rate outlook. The U.S. central bank kept rates unchanged on Wednesday and forecasted just one rate cut this year, contributing to Bitcoin's decline," said Edul Patel, CEO of Mudrex.

Meanwhile, the second largest by value, Ethereum surged 0.4% to $3,514 after SEC Chair Gary Gensler stated that Ether ETFs should be fully approved by September 2024. According to CoinSwitch Markets Desk, the final registration requirements for ETFs are progressing smoothly at the staff level, suggesting imminent listing of new ETFs, allowing investors to easily trade funds that hold actual Ether.

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On the other hand, various other crypto tokens, including Solana, XRP, , Cardano, Shiba Inu, Avalanche, Polkadot, Chainlink, and Polygon, faced a decline of 3%.

The volume of all stablecoins is now $65.03 billion, which is 93.28% of the total crypto market 24-hour volume, according to CoinMarketCap.

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In the last 24 hours, the market cap of Bitcoin, the world's largest cryptocurrency, fell to $1.318 trillion. Bitcoin's dominance is currently 54.18%, according to CoinMarketCap. BTC volume in the last 24 hours fell 25.57% to $26.74 billion.

"Bitcoin faces immediate resistance at $70,000 and support at $66,000 with a bearish trend as the price remains below the 50-day EMA at $68,800 and the RSI at 44," said Sathvik Vishwanath, Co-Founder & CEO of Unocoin

Meanwhile, the global cryptocurrency market cap also saw a 0.6% decline, hovering around $2.44 trillion in the last 24 hours.

(Disclaimer: The views expressed by experts are their own and do not necessarily reflect those of The Economic Times)

Source: Forex-Markets-Economic Times