Bitcoin (BTC), the world's oldest and most valuable cryptocurrency, surpassed the $57,000 mark early Tuesday. Other popular altcoins, including Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Solana (SOL) and Litecoin (LTC), rose across the board, with the market-wide Fear and Greed Index hitting a score of 37 out of 100 (Fear), according to CoinMarketCap data. Meme coin BONK was the biggest gainer, up about 26% in 24 hours. Jasmycoin (JASMY) was the biggest loser, down about 3% in 24 hours.
At the time of writing, the global cryptocurrency market capitalization reached $2.11 trillion, up 4.20% in 24 hours.
Bitcoin (BTC) Price Today
According to CoinMarketCap, the price of Bitcoin was $57,248.54, up 3.76% in 24 hours. According to Indian exchange WazirX, the price of BTC was Rs 5.226 crore.
Ethereum (ETH) Price Today
The ETH price is at $3,068.66, up 6.38% in 24 hours at the time of writing. According to WazirX, the Ethereum price in India is at Rs 2.79 lakh crore.
Dogecoin (DOGE) price today
DOGE has risen 5.30 percent in the last 24 hours and is currently priced at $0.108, according to data from CoinMarketCap. According to WazirX, the price of Dogecoin in India is Rs 9.88.
Litecoin (LTC) price today
Litecoin has risen by 5.62% in 24 hours. It was trading at $65.19 at the time of writing. The LTC price in India was Rs 5,900.
Ripple (XRP) Price Today
The price of XRP was at $0.4336, up 4.48% in 24 hours, while Ripple was at Rs 39.24, according to WazirX.
Solana (SOL) Price Today
Solana price was at $140.54, up 7.39 percent in 24 hours. According to WazirX, the price of SOL in India was Rs 12,957.41.
Today's top cryptocurrency gainers (July 9th)
According to data from CoinMarketCap, the top five cryptocurrencies that have increased in value over the past 24 hours are:
BONK
price: $0.00002588
24 hour increase: 25.67 percent
Celestia (TIA)
price: $6.13
24 hour increase: 20.37 percent
SEI
price: $0.2988
24 hour increase: 16.06 percent
Pepe
price: $0.000009519
24 hour increase: 15.35 percent
Etena (ENA)
price: $0.408
24 hour increase: 13.20 percent
Today's Biggest Crypto Losers (July 9th)
According to data from CoinMarketCap, the cryptocurrencies that saw the biggest declines in the past 24 hours are:
Jasmy Coin (JASMY)
price: $0.02286
24 hours lost: 2.58 percent
Tether Gold (XAUt)
price: $2,367.10
24 hours lost: 0.72 percent
What Crypto Exchanges are saying about the current market scenario
Edur Patel, co-founder and CEO of Madrex, told ABP Live: “Bitcoin dropped to as low as $55,000 yesterday following the German government's decision to transfer 16,309 Bitcoin holdings back to crypto exchanges and market makers. However, it has since recovered and is currently trading at $57,000. The next resistance levels are $57,600 and $58,200. Meanwhile, Ethereum is trading above $3,000 and is eyeing $3,110, which could signal the start of a rise towards $3,270.”
CoinSwitch Markets Desk noted, “As Bitcoin trades below the key resistance level of $58.4k, the bears are looking to tighten their grip, even as the German government has already sold more than 50% of its original holdings of 50,000 BTC, according to data from Arcam Intelligence. ETH has also managed to hold above $3,000, despite the upcoming ETF trade for the world's largest cryptocurrency.”
Rajagopal Menon, Vice President at WazirX said, “Bitcoin is consolidating losses above $55,000 after attempting to recover above $56,500 and $57,500. It failed to break above $58,200 and made a high at $58,129 before dropping back to a low of $54,954. It is now consolidating and has risen slightly above the 50% Fib retracement level of $58,129 to $54,954. Bitcoin remains below $57,500 and the 100 hourly SMA with immediate resistance near $57,250.”
Shivam Thakral, CEO of BuyUcoin, said, “The cryptocurrency market saw wild volatility on Monday as the German government transferred assets worth $900 million from its Bitcoin holdings, according to blockchain data. The transfer was made to cryptocurrency exchanges, with a total of 8,700 BTC moved, causing the BTC price to fall by 3% on Monday afternoon. Bitcoin however recovered to the $57,200 levels, although this support level seems very weak. The increase in BTC supply in the market is good news as more BTC will be available for purchases and trading on exchanges. Meanwhile, Ethereum has recovered over 5% and is trading at $3,070 levels.”
Sathvik Viswanath, CEO and co-founder of Unocoin, said: “Germany continues to wield a significant influence in the cryptocurrency market, holding 39,826 BTC worth $2.2 billion, roughly 9% of the $25.3 billion daily Bitcoin trading volume. The stash, obtained from movie piracy site Movie2k.to, is gradually being liquidated, impacting BTC prices, with the price dropping nearly 20% in recent sales to hit a spot price of $55,490. Germany's strategy of selling BTC for fiat has been criticized, with the strategy being seen as potentially harmful given Bitcoin's scarcity versus unlimited fiat currencies. Meanwhile, Bitcoin miners are experiencing a 'capitulation' as they adjust to dwindling profits amid market turmoil, which may signal a market bottom.”
CoinDCX research team told ABP Live: “Despite selling pressure caused by the German government moving BTC to exchanges, the cryptocurrency market has shown resilience with positive returns in the past 24 hours. Technically, BTC needs to reclaim $58,500 and ETH needs to rise above $2,875 to show signs of bullishness. ETH/BTC has bounced off key support, with some altcoins such as TIA and ETHFI up over 20% in the past 24 hours.”
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