Bitcoin (BTC), the world’s oldest and most valued cryptocurrency, dipped below the $19,000 mark, seeing a nearly three-month low. Ethereum (ETH), which was enjoying a bull run over the past few days owing to the Merge, also saw a dip in value on early Wednesday morning. Other popular altcoins, including the likes of Dogecoin (DOGE), Solana (SOL), and Ripple (XRP), landed in the reds across the board. The TerraClassicUSD (USTC) token emerged to be the biggest gainer, with a 24-hour jump of 4 percent.
At the time of writing, the global crypto market cap stood at $934.94 billion, marking a 5.88 percent dip in the last 24 hours, as per CoinMarketCap data.
Bitcoin (BTC) price today
As per CoinMarketCap, Bitcoin saw a 24-hour dip of 5.29 percent, priced at $18,740.08. As per Indian exchange WazirX, BTC price stood at Rs 16.20 lakhs.
Ethereum (ETH) price today
ETH price stood at $1,514.33, marking a 24-hour loss of 7.78 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.29 lakhs.
Dogecoin (DOGE) price today
DOGE registered a 24-hour loss of 7.13 percent as per CoinMarketCap data, currently priced at $0.05871. As per WazirX, Dogecoin price in India stood at Rs 4.86.
Litecoin (LTC) price today
Litecoin saw a 24-hour dip of 10.45 percent. At the time of writing, it was priced at $53.82. LTC price in India stood at Rs 4,510.91.
Ripple (XRP) price today
XRP price stood at $0.3175, seeing a 24-hour dip of 4.68 percent. As per WazirX, Ripple price stood at Rs 26.53.
Solana (SOL) price today
Solana price stood at $30.97, marking a 24-hour gain of 5.08 percent. As per WazirX, SOL price in India stood at Rs 2,687.99.
Top crypto gainers today (September 7)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
Price: $0.0392324-hour gain: 4.01 percent
UNUS SED LEO (LEO)
Price: $5.1424-hour gain: 1.37 percent
Price: $1.0024-hour gain: 0.04 percent
USD Coin (USDC)
Price: $1.0024-hour gain: 0.01 percent
Price: $1.0024-hour gain: 0.01 percent
Top crypto losers today (September 7)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
Ethereum Classic (ETC)
Price: $33.7924-hour loss: 16 percent
Lido DAO (LDO)
Price: $1.8424-hour loss: 15.87 percent
Price: $0.824824-hour loss: 14.31 percent
Curve DAO Token (CRV)
Price: $1.0324-hour loss: 13.16 percent
Bitcoin Gold (BTG)
Price: $22.2524-hour loss: 12.33 percent
What crypto exchanges are saying about the current market scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin failed to hold above the $20,000 and broke below the $19,500 support against the US dollar on Tuesday. This is the weakest level BTC has seen since July 13th. The next resistance sits at the $19,400 level. But if BTC does not recover above the $19,000 level, the immediate support could be $18,650 and later $18,500.”
Sathvik Vishwanath, CEO and co-founder of Unocoin said, “On Tuesday, the global crypto market went down by approximately 3 percent, and around 95 percent of top 100 coins ended in the red zone. The effects of a bearish market could be very clearly seen. The highest fluctuation seen was with USTC as the coin gained approximately 25 percent in a single day and around 65 percent in the last week. This could be the effect of exchanges like Binance and FTX when they change the status quo of deposits/withdrawals. Other coins like Bitcoin and Ethereum lost approximately 4 percent and 1 percent, respectively, in just 24 hours. We need to wait and see if the sentiment towards Ethereum upgrade does any course correction.”
weTrade founder Prashant Kumar offered his take on the market scenario as well, “Bitcoin took a plunge below $19,000 on Wednesday. The largest cryptocurrency saw a decline of 5.5 percent in the last 24 hours. The global market cap also further declined by approximately 5 percent. Meanwhile, Ethereum, which initiated the first phase of the much-awaited Merge on Tuesday also saw a similar decline as it reached close to $1,500. With technology stocks and other global economic factors showcasing similar trends, September continues to be a choppy month for investors across.”
Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Cryptocurrency is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Cryptocurrency market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.