Cryptocurrency prices on June 17: Bitcoin holds steady above $66,000 as market sees mixed movement

In Monday's trading session, the performance of cryptocurrency tokens was mixed. Bitcoin, Ethereum, Solana, XRP, Toncoin, and Tron saw gains of up to 1.5%. Meanwhile, BNB, Dogecoin, Shiba Inu, Cardano, Avalanche, Uniswap, and Chainlink experienced losses of up to 4%.

Meanwhile, the global cryptocurrency market cap declined by 0.09% to around $2.42 trillion in the last 24 hours.

Bitcoin was up 0.1% at $66,241 as of 11:45 a.m., while Ethereum was above the $3,550 level.

"Bitcoin's price movement is currently influenced by the recent decision of the Federal Open Market Committee (FOMC) which is set to maintain the target range for the federal funds rate which is causing a lull in market movements," said Rajagopal Menon, Vice President, WazirX.

Edul Patel, CEO of Mudrex, noted, "Bitcoin's closest support level lies at $64,825, while the next resistance point awaits at $66,978. The overall sentiment in the market continues to point to greed."

The volume of all stablecoins is now $44.12 billion, which is 90.87% of the total crypto market 24-hour volume, according to CoinMarketCap.

In the last 24 hours, the market cap of Bitcoin, the world's largest cryptocurrency, rose to $1.304 trillion. Bitcoin's dominance is currently 54.07%, according to CoinMarketCap. BTC volume in the last 24 hours rose 26.8% to $16.37 billion.

"Bitcoin’s price remains below its 50-day moving average, a technical indicator suggesting a potential downtrend in the near future. BTC is still comfortably above the 200-day moving average, hinting at a possible long-term bullish outlook," Rajagopal of WazirX said.

"If Bitcoin can surge past the 50-day hurdle, it could trigger a rally towards the key resistance level of $69,000. If Bitcoin dips below $65,000, it could signal a further drop towards the crucial support level of $64,000," he added.

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