Today, the cryptocurrency market finds itself in a bearish stance as Bitcoin fell below $95K. This decline was mirrored by major altcoins, many of which were trading at lower values. Among the hardest hit were THORChain (RUNE) and Injective (INJ), both of which experienced a 11% drop from their daily peaks.
Today, the overall crypto market experienced a decrease of around 2%, lowering its total value to approximately $3.33 trillion. Interestingly, despite this drop, trading volume has seen a small uptick of 4% within the past day, reaching about $168 billion. Let’s delve deeper into the leading cryptocurrencies by market capitalization and their current pricing.
Crypto Market Today: BTC, ETH, SOL Drop in Bearish Trend
Today’s crypto market has maintained a bearish pattern, leading to a 3% decrease in Bitcoin (BTC), a 2% fall for Ethereum (ETH), and a 2.5% drop in Solana (SOL). However, amidst this downtrend, a promising indicator surfaced as large Bitcoin investors, known as whales, started buying BTC again.
Bitcoin Market Today: BTC Drops 3%, ETF Outflows Continue
The current Bitcoin price is approximately $94,390, representing a 3% decrease over the past 24 hours. During this period, the lowest and highest prices Bitcoin reached were $92,559 and $96,666, respectively.
According to SoSo Value’s data, there was a withdrawal of approximately $458 million from Bitcoin ETFs. Fidelity was the main contributor to this sell-off, disposing of around $258 million in Bitcoin. Additionally, Ark and 21Shares sold about $148 million in Bitcoin each. We are still waiting for data on Bitcoin holdings from BlackRock’s ETF.
Ethereum Market Today: ETH Price Down 1.5%, ETF Outflows Surge
The cost of Ethereum dropped approximately 1.5% and is now being bought and sold at around $3,325. Over the past 24 hours, its minimum and maximum prices were $3,210 and $3,387 respectively.
In the last day, ETH Exchange Traded Funds experienced a withdrawal of approximately $159 million, with Fidelity accounting for around $147 million of that selling. The persistent negative feelings towards crypto are influencing today’s market, evident in falling prices and substantial withdrawals from large financial institutions, indicating reduced investment interest.
XRP Market Today: Only Gainer Among Top 10 Coins
Among the top 10 cryptocurrencies, only XRP saw an increase, climbing by 0.40% over the past 24 hours. Its current price is $2.351, having reached a low of $2.214 and a high of $2.396 during this period. Furthermore, Ripple‘s stablecoin, RLUSD, has recently been listed on the Bitstamp platform, enhancing the functionality within the XRP ecosystem.
Solana Market Today: SOL Price Drops 2%
The current Solana price has dropped around 2% and is now at $195.45. Earlier in the last 24 hours, its lowest and highest prices were $189 and $199 respectively.
Crypto Market Gainers Today
XDC Network
The price of XDC coin increased by 7%, currently standing at $0.0973. Its lowest and highest points over the last 24 hours were $0.087 and $0.0975 respectively. With a market capitalization of $1.45 billion and a trading volume of $59.35 million, XDC is making a notable impact in today’s cryptocurrency market despite the general downturn.
Monero
Today, Monero (XMR) has ranked as the second highest gainer, with its value currently standing at $196, marking a 4% rise. The day’s lowest and highest points for XMR were recorded at $183 and $201 respectively. Boasting a market capitalization of approximately $3.61 billion, Monero has traded a volume of around $86.49 million over the past 24 hours.
Today in the cryptocurrency market, Hyperliquid (HYPE), GateToken (GT), and NEO token have all seen gains, increasing by 2% to 4% over the past 24 hours. Even amidst the general downward trend, these tokens have stood out with impressive performance.
Crypto Market Losers Today
THORChain
The cost of RUNE dropped by 11% to reach $3.94. Today, its lowest and highest points within the last 24 hours were marked at $3.86 and $4.35 respectively, indicating a substantial dip in the cryptocurrency market.
Injective
Over the past day, the Injection (INJ) token’s value dropped by 11%, currently trading at $21.60. It reached a low of $20.54 and peaked at $23.88 within this period. Despite a general market decline, INJ has shown an impressive rise of 11% over the last three months. Moreover, there was a 13% surge in its price during the past week following the approval of a significant governance proposal by the community, and heightened investor interest in AI-related coins is fueling this growth trend.
In my analysis, I’ve observed a downward trend of approximately 7% to 9% over the past day for WIF, MOVE, AIOZ, and SPX. This decline has contributed to a growing sense of pessimism within the market.
Additionally, the one-hour chart indicates a negative mood in the cryptocurrency sector, as Bitcoin decreased by 0.13% over the past day. Fartcoin fell by 4% within the last hour, and most prominent altcoins are also experiencing losses, signifying ongoing selling pressure throughout the market.
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2025-01-09 06:52