As a researcher with experience in the crypto market, I find today’s bearish trend disappointing but not entirely surprising. The crypto prices have been on a rollercoaster ride lately, and it seems that the bull run has taken a breather. Bitcoin (BTC) dipped below the $55K mark, while Ethereum (ETH), Solana (SOL), XRP, and other altcoins followed suit. The total crypto market cap saw a significant drop, but the total market volume increased, which could be a sign of increased buying or selling pressure.
The crypto markets have resumed their downward trend after experiencing significant upward movements in the past few days. Bitcoin‘s price has dropped to around $55,000, while Ethereum, Solana, XRP, and other cryptocurrencies have followed suit with decreasing values.
The value of all cryptocurrencies in the global market decreased by 5.19%, amounting to approximately $2.01 trillion today. Contrarily, the total volume of crypto transactions surged by 17.71% compared to the previous day, reaching a notable $64.19 billion, inciting much debate and conjecture.
Here’s a brief report on some of the top cryptocurrencies and their price movements today, July 8.
Top Crypto Prices Today
Bitcoin Price
The price of Bitcoin dropped by 4.99% over the last 24 hours, settling at a new mark of $55,122.17. During this time frame, its lowest point was $54,321.02, while its highest was $57,971.83.
The influence of Bitcoin grew by 0.07 percentage points to reach 53.85% today, indicating a subpar showing from the altcoin market. At the time of reporting, Bitcoin’s market capitalization stood at an impressive $1.09 trillion.
Among the market downturn, Japan’s Metaplanet notably bought more Bitcoins, offering a potential bright sign for future price trends.
Ethereum Price
During the past day, the Ethereum price chart indicated a decline, dropping by 5.62% to reach $2,880.37. The lowest and highest points on its 24-hour range were recorded at $2,826.48 and $3,051.20 respectively.
Noteworthy is the fact that the expectation of heightened price fluctuations grows stronger as spot Ethereum ETFs are on the verge of being launched imminently.
Solana Price
The value of cryptocurrency Solana decreased by approximately 7.97%, landing at $130.79. During the last 24 hours, Solana reached its lowest point at $128.56 and its highest point at $142.12, demonstrating significant price fluctuations.
Crypto XRP Price
In the last 24 hours, XRP experienced a significant drop of 6.5 percent, bringing its price down to $0.415. The lowest point during this period was $0.4047, while the highest was reached at $0.4448.
DOGE & SHIB Prices
The price of Dogecoin decreased by 8.75% to reach $0.1021 today. Shiba Inu experienced a similar downturn of 8.70%, resulting in a new price point at $0.00001547, following the general market trend.
Even the crypto PEPE, FLOKI, and BONK prices dipped 9%-14% at press time.
As an analyst, I find it intriguing that the bearish market trend has prevented any stocks from achieving significant gains today. On the contrary, some stocks have experienced notable losses, which I’d be happy to share with you. (List the top losers here)
Top Crypto Losers Today
As a researcher, I’ve observed some significant price drops in the crypto market recently. Brett (BRETT), for instance, experienced a 15.36% decrease, bringing its new price down to $0.1073. Similarly, Pepe coin (PEPE) saw a 14% decline, resulting in a price of $0.000008213. The price of dogwifhat (WIF) dropped by 13.48%, now valued at $1.60. Lastly, Jupiter’s (JUP) price took a hit, with a 12.03% decrease, leaving it at $0.6793.
As a researcher studying the cryptocurrency market, I observed from the hourly time frame charts that Bitcoin (BTC) and Ethereum (ETH) experienced slight gains. The majority of other tokens mirrored this trend. Crypto market enthusiasts remain vigilant, closely monitoring these tokens for any additional price shifts.
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2024-07-08 07:42