Bitcoin price fell below $30,000 today to reach above $31,000, slipping with equities slipping back into the middle of the narrow range where it has been trading since mid-May. The world’s largest and most popular cryptocurrency is up more than 6% and is trading at $31,182.
Investor concerns about tighter monetary policy and tighter regulations have bickered with optimism that bitcoin may find its bottom to hold. cryptocurrency In the tight range of around $30,000.
The digital token (YTD) is down more than 33% so far this year, trading well below its all-time high of $69,000 in November last year.
On the other hand, Ether, the coin and the second largest cryptocurrency tied to the Ethereum blockchain, rose nearly 5% to $1,830. Meanwhile, Dogecoin price is trading up 3% today at $0.08, while the Shiba Inu is also down almost 4% to $0.0000011. The global cryptocurrency market cap today stands at $1.32 trillion, up nearly 2% over the past 24 hours.
Cardano, Stellar, Uniswap, XRP, Litecoin, Tron, Tether, Solana, Polkadot, Avalanche, Polygon, Chainlink were trading with gains in price over the past 24 hours, although other digital tokens also improved performance. Terra Luna Classic fell over 15. ,
According to a report by digital asset data provider CryptoKitties, total assets under management (AUM) in digital asset investment products fell 28.6% sequentially to $34.2 billion as of May 26, amid a major drop in the prices of various cryptocurrencies.
Among individual assets, bitcoin’s AUM fell 26.8% in May to $24.0 billion, while the market share is rising slightly, currently accounting for 70% of total AUM, up from 68% in April. Furthermore, Ethereum’s AUM fell by 33.9% to $8.52 billion.
Despite huge losses in AUM, from April to May (as of May 26) the total daily volume across all crypto funds increased by an average of 5%. This is the first month-on-month increase since October 2021.
(with inputs from agencies)