Bitcoin price today June 2: Returning to the price area of ​​$ 26,000

[2/6/2023]
Bitcoin price today continues to decline, returning to the area of ​​​​26,000-27,000 USD.

The current Bitcoin price on Coindesk at 8:07 am on June 2 decreased by 1.42% compared to 24 hours ago to $ 26,731.

The trading volume reached 14.89 billion USD, the market capitalization is now 518 billion USD.

The prices of major virtual currencies on Coindesk are all down: Ethereum is down 0.89%, BNB is down 0.6%, Cardano is down 2.03%, Solana is down 1.64%, Dogecoin is down 0.44%.. .

Total market capitalization fell 1.12% to 1.128 billion USD.

At the end of May, the Bitcoin price recorded its first loss month since the beginning of 2023 with a drop of as much as 7%. Bitcoin failed to break the $30,000 level as expected and remained at the $27,500 resistance level. The last time it spiked to the $28,500 region with the news of the US public debt ceiling, it has since been pushed back.

But compared to other commodity assets such as crude oil (down 4%), gold (up 7.5%) or silver (up 12.7%), Bitcoin still achieved a growth rate of 14.5% in the past 3 years. past month.

Bitcoin's growth came amid the US banking crisis that reinforced Bitcoin 's long-held narrative of being a safe-haven asset. In recent months, Bitcoin has shown a growing decoupling from the main asset classes of the traditional market. In addition, since the beginning of 2023, the correlation of cryptocurrencies with US stocks has decreased significantly. This indicates that Bitcoin is increasingly seen as a standalone asset class.

Most large-cap cryptocurrencies also fell into the red in May. ETH fell 1% and BNB also lost a similar percentage. The saddest thing is that ADA lost more than 4% of its value while LTC is slightly up and trading above $90 at press time.

Overall, however, the cumulative market capitalization of all crypto assets has increased by $10 billion per day. This metric has dropped by nearly $40 billion over the past two days to nearly $1,130 billion.

 

The prices of major virtual currencies on Coindesk are all down: Ethereum is down 0.89%, BNB is down 0.6%, Cardano is down 2.03%, Solana is down 1.64%, Dogecoin is down 0.44%.. .

Total market capitalization fell 1.12% to 1.128 billion USD.

At the end of May, the Bitcoin price recorded its first loss month since the beginning of 2023 with a drop of as much as 7%. Bitcoin failed to break the $30,000 level as expected and remained at the $27,500 resistance level. The last time it spiked to the $28,500 region with the news of the US public debt ceiling, it has since been pushed back.

But compared to other commodity assets such as crude oil (down 4%), gold (up 7.5%) or silver (up 12.7%), Bitcoin still achieved a growth rate of 14.5% in the past 3 years. past month.

Bitcoin's growth came amid the US banking crisis that reinforced Bitcoin 's long-held narrative of being a safe-haven asset. In recent months, Bitcoin has shown a growing decoupling from the main asset classes of the traditional market. In addition, since the beginning of 2023, the correlation of cryptocurrencies with US stocks has decreased significantly. This indicates that Bitcoin is increasingly seen as a standalone asset class.

Most large-cap cryptocurrencies also fell into the red in May. ETH fell 1% and BNB also lost a similar percentage. The saddest thing is that ADA lost more than 4% of its value while LTC is slightly up and trading above $90 at press time.

Overall, however, the cumulative market capitalization of all crypto assets has increased by $10 billion per day. This metric has dropped by nearly $40 billion over the past two days to nearly $1,130 billion.