Bitcoin (BTC), the world's oldest and most valuable cryptocurrency, fell below the $58,000 level early Thursday. Other popular altcoins, including Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Solana (SOL) and Litecoin (LTC), fell across the board, with the market-wide Fear and Greed Index hitting 40 out of 100 (Fear), according to CoinMarketCap data. Stacks (STX) token was the biggest gainer, up about 8% in 24 hours. Flare (FLR) was the biggest loser, down more than 7% in 24 hours.
At the time of writing, the global cryptocurrency market capitalization was $2.12 trillion, down 2.08% in 24 hours.
Bitcoin (BTC) Price Today
According to CoinMarketCap, the price of Bitcoin was $57,730.46, down 2.24% in 24 hours. According to Indian exchange WazirX, the price of BTC was Rs 5.188 lakh.
Ethereum (ETH) Price Today
The ETH price is at $3,085.60, down 0.95% in 24 hours at the time of writing. According to WazirX, the Ethereum price in India is at Rs 27.5 lakh crore.
Dogecoin (DOGE) price today
DOGE has fallen 1.80 percent in the last 24 hours and is currently priced at $0.1077, according to data from CoinMarketCap. According to WazirX, the price of Dogecoin in India is Rs 9.89.
Litecoin (LTC) price today
Litecoin has risen by 1.59% in 24 hours. It is trading at $67.18 at the time of writing. The LTC price in India is Rs 6,041.46.
Ripple (XRP) Price Today
The price of XRP was at $0.4412, up 0.25 percent in 24 hours, while Ripple was at Rs 39.45, according to WazirX.
Solana (SOL) Price Today
Solana was priced at $140.75, down 3.19 percent in 24 hours. According to WazirX, the price of SOL in India was Rs 12,700.
Today's Top Crypto Gainers (July 11th)
According to data from CoinMarketCap, the top five cryptocurrencies that have increased in value over the past 24 hours are:
STX
price: $1.57
24 hour increase: 7.91 percent
Mantra (OM)
price: $0.9718
24 hour increase: 2.93 percent
Lido DAO (LDO)
price: $1.63
24 hour increase: 2.75 percent
ONDO
price: $0.9886
24 hour increase: 2.68 percent
Mantle (MNT)
price: $0.6814
24 hour increase: 2.55 percent
Today's Biggest Crypto Losers (July 11th)
According to data from CoinMarketCap, the top five cryptocurrencies that fell in the last 24 hours were:
Flare (FLR)
price: $0.01843
24 hours lost: 7.43 percent
Avalanche (AVAX)
price: $25.40
24 hours lost: 7.18 percent
Dogwif Hat (WIF)
price: $1.63
24 hours lost: 6.34 percent
Notcoin (NOT)
price: $0.01588
24 hours lost: 5.75 percent
Ethereum Name Service (ENS)
price: $25.94
24 hours lost: 5.74 percent
What Crypto Exchanges are saying about the current market scenario
Edul Patel, co-founder and CEO at Mudrex, told ABP Live: “Bitcoin traded above $58,000 yesterday but has since stabilised at $57,000 due to pressure from miners and Mt. Gox refunds. Additionally, the German government is transferring more seized Bitcoin with the intent to sell, increasing downward pressure. BTC is struggling to break out of the $59,500 level. If it fails to surpass $58,400 today, it could fall to around $57,200. Meanwhile, Ethereum is trading above $3,100. It is still below the previous support level of $3,400, but traders are gradually regaining confidence in Ethereum.”
CoinSwitch Markets Desk noted, “After failing to surpass $58,000 last week, BTC remained flat as trading volumes across the market declined. In the short term, $54,000 is a major support, with $60,000 a notable resistance level. After a series of positive statements by US presidential candidates about supporting the U.S. crypto sector, Trump is expected to speak at the Bitcoin Conference later this month, further enhancing his pro-crypto image.”
Rajagopal Menon, Vice President at WazirX said, “Bitcoin continues to recover and was trading near the $57,500 mark and briefly surpassed the $58,500 level early today. The bears, who are closely monitoring the BTC price, are actively working around the $59,500 mark. Currently, BTC is correcting the gains and falling below $58,500 to test the 50% Fib retracement level. The key resistances are $58,800 and $59,500, above which a test of $60,000 is possible.”
Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “Bitcoin's recent market movements reflect a resistance to significant fluctuations. Despite a 15% drop in the past month to around $58,000, trading volumes are expected to grow 3.6% to over $30 billion in 24 hours. Institutional investors such as BlackRock and Fidelity have contributed $650 million to a US-listed Bitcoin ETF to stabilize the price. However, selling pressure from entities such as the German Federal Police and repayment of Mt. Gox creditors have adversely affected the market. Technical analysis suggests that Bitcoin may break through the resistance at $58,500 and aim for $60,000 supported by a bullish trend above $57,000.”
Shivam Thakral, CEO of BuyUcoin, said, “BTC price continues to decline due to selling pressure from the German government and Mt. Gox. Looking at monthly data, BTC has fallen by 15%, which market experts attribute to selling pressure due to recent blockchain activity. The current decline has stimulated buying interest from users who want to accumulate BTC at a lower rate, and US ETF data shows inflows of $438 million in just two days. The market is expected to remain volatile due to uncertainty in the macroeconomic situation.”
CoinDCX research team told ABP Live: “Markets traded mixed over the past 24 hours as the German government continued to move BTC, however BTC ETF inflows remained net positive, reaching $200 million the day before yesterday, indicating sustained demand. Technical price action is currently mixed, with today's CPI data expected to cause further market volatility. On a positive development, Goldman Sachs has announced plans to launch three tokenization projects by the end of the year, which could boost RWAs and tokenized tokens.”
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