As an experienced crypto analyst, today’s market downturn is a common occurrence in this highly volatile asset class. The global crypto market cap’s dip of 1.05% to $2.62 trillion and the total crypto market volume decline of 9.09% to $74.9 billion are signs of a broader market correction.
The cryptocurrency market experienced a predominantly downward trend today, causing Ethereum (ETH), Solana (SOL), and XRP to see decreasing price patterns. In contrast, Bitcoin (BTC) continued its upward momentum, holding strong above the $71,000 threshold. Among the day’s standout performers was Toncoin (TON), which registered significant gains.
As a crypto investor, I’ve noticed that the global crypto market capitalization took a hit, decreasing by 1.05% to reach a total of $2.62 trillion. The total crypto market volume also saw a decline of 9.09%, settling at $74.9 billion. This downward trend is evident in the prices of most cryptocurrencies. However, some coins have managed to buck the trend and maintain their value despite the broader market decline.
Here’s a report on some of the top cryptos and their price movements today, June 7.
Top Crypto Prices Today
Bitcoin price
Following an impressive surge past the $71,000 threshold, Bitcoin’s price momentarily dipped back to $70,000 today. This minor pullback aligns with the reported $132.2 million worth of outflows from Bitcoin ETFs on June 6, according to Farside Investors’ data. However, BTC regained its footing and surpassed the $71,000 mark once more, hitting a peak of $71,142.90, representing a 0.22% increase over the previous day.
As a researcher studying the cryptocurrency market, I’ve observed that the 24-hour low and high prices for Bitcoin were $70,119.12 and $71,625.74, respectively. Additionally, Bitcoin’s dominance in the market has risen slightly to 53.24%, representing a 0.21% increase compared to the previous day.
Ethereum Price
As a crypto investor, I’ve noticed that the price of Ethereum (ETH) took a small dip of 1.57% over the last 24 hours, reaching $3,804.81. The day’s lowest and highest points for ETH were $3,761.78 and $3,865.93 respectively. Although there has been an impressive increase in daily active users on the Ethereum network following the ETF approval, we haven’t seen a substantial upward price trend yet.
Solana Price
Yesterday, SOL‘s price had reached a peak of $170 before dipping 2.02% within the following 24 hours, landing at $170.47. Solana’s lowest and highest prices during this time frame were $167.86 and $173.90, respectively.
XRP Price
As a cryptocurrency analyst, I’d describe the recent price movement of Ripple (XRP), which is supported by Ripple Labs, in the following way: I observed that XRP mirrored the market’s downward trend and declined by 0.68%, reaching a price of $0.5223. The day’s lowest and highest prices for XRP were recorded at $0.5175 and $0.5276, respectively.
Investors remain vigilant as XRP‘s price hovers just beneath the significant support level of $0.52, despite maintaining an overall position above it.
DOGE & SHIB Prices
The price of Dogecoin decreased by 1.01%, landing at $0.1609, in contrast to Shiba Inu coin which experienced a steeper drop of 2.99% and is now priced at $0.00002511.
The prices of the top meme coins, PEPE, WIF, and BONK, slipped 5-6%. However, FLOKI was up 0.93%.
Top Crypto Gainers Today
The price of Wormhole (W) increased by 11.93%, reaching a new value of $0.7.
Top Cryptos Losers Today
The price of Bitget Token (BGB) dropped by 8.27%, landing at $1.21.
On an hourly basis, I noticed Bitcoin climbing by 0.48%. Meanwhile, Ethereum, Solana, and Ripple mirrored this upward trend.
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2024-06-07 07:50