Bitcoin fell more than 1% and moved towards the $20,000 mark

The bitcoin price fell 1.63% today (June 28) to $20,733.83.

Bitcoin’s downward move this morning came after the Dow Jones Industrial Average closed down in a narrow 62-point range on Monday (June 27), while Wall Street moved lower.

  • The Dow Jones Industrial Average fell 62.42 points, or 0.20%, to close at 31,438.26 points.
  • The S&P 500 fell 11.63 points, or 0.30%, to close at 3,900.11 points.
  • The Nasdaq fell 83.07 points, or 0.72%, to close at 11,524.55 points.

Following last week’s slump in commodity prices, investors have shed their inflation fears. As a result, the US interest rate is expected to reach a high of 3.5%. This was down from the previous forecast of 4%.

Investors reacted to the release of the U.S. consumer confidence index from the University of Michigan on Friday. Consumers expect inflation to reach 5.3% next year, which is even higher than the 4.2% recorded in the same period last year. However, it is lower than the preliminary 5.4% reading two weeks ago.

The Spot Market is Open

Tuesday, June 28, 2022

Crypto
Updated at
USD
Price

Change

%Chnage
11.20 BTC20,723.12-489.03-2.31
11.20 ETH1,180.01-34.03-2.80
11.20 LTC54.64-2.86-4.98
11.20 BNB234.35-3.36-1.41
11.20 XRP0.34-0.02-5.14
11.20 ADA0.48-0.02-3.50
11.20 DOT7.57-0.56-6.83
11.20 DOGE0.07-0.01-7.04
11.20 UNI5.20-0.54-9.39
11.20 LINK6.47-0.35-5.17

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