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Market Update: Eyes on US Data & XRP Dips

On Thursday morning, June 27, Bitcoin trades around $107,400, a nearly flat price move vs yesterday.

By Mike Hesp
• 2 min read
Market Update: Eyes on US Data & XRP Dips

On Thursday morning, June 27, Bitcoin hovers around $107,400, a nearly flat price move versus yesterday. The market cap of the world’s oldest cryptocurrency is currently $2.14 trillion, placing BTC as the sixth-largest asset class worldwide. That puts tech giant Alphabet (Google) behind it, and it sits just after Amazon.

Ethereum colors red: the second-largest crypto is down more than 1% on the day and is currently around $2,400. The all-time high is still roughly 50% above the current level. Whether the recent rally has ended, read our technical analysis.

In the top ten crypto assets, XRP stands out, unfortunately in a negative way. The Ripple token lost four percent in the last 24 hours. The reason: the legal battle between Ripple and the SEC drags on. An American judge rejected a settlement proposal, putting more pressure on the price.

In traditional financial markets we see slight profit-taking. The Nasdaq, the S&P 500 and gold are moving higher ahead of new macro data.

That focus today is on the US PCE core inflation figures for May – a crucial indicator for rate expectations.

Disclaimer: This content is for informational purposes only and does not constitute financial, investment, legal, or tax advice. The information provided may be incomplete, inaccurate, or outdated and should not be relied upon as such. Nothing on this website should be considered a recommendation to buy, sell, or hold any cryptocurrency. Investing in crypto-assets involves risk of loss.