Ethereum
Bitcoin Falls Below $66,000, Ripple Becomes Biggest Gainer
Bitcoin (BTC), the world’s oldest and most valuable cryptocurrency, continued its downward trend and fell below $66,000 early Wednesday. Other popular altcoins, including Ethereum (ETH), Dogecoin (DOGE), Solana (SOL), and Litecoin (LTC), landed in the red across the board (except for Ripple), with the market’s overall Fear and Greed Index standing at 60 (Greed) out of 100, according to data from CoinMarketCap. Ripple (XRP) token emerged as the biggest gainer of the bunch, surging more than 8% over 24 hours. AIOZ emerged as the biggest loser, dropping more than 8% over 24 hours.
At the time of writing, the global cryptocurrency market capitalization stood at $2.37 trillion, down 1.12% over 24 hours.
Bitcoin (BTC) price today
Bitcoin price settled at $65,661.71, registering a 1.47% decline over 24 hours, according to CoinMarketCap. According to Indian exchanges, BTC price stood at Rs 58.13 lakh.
Ethereum (ETH) Price Today
ETH price stood at $3,274.76, a 24-hour loss of 1.11% at the time of writing. Ethereum price in India stood at Rs 2.79 lakh.
Dogecoin (DOGE) Price Today
DOGE has registered a 3.69% decline over 24 hours, according to data from CoinMarketCap, with a current price of $0.1247. The price of Dogecoin in India stood at Rs 11.20.
Litecoin (LTC) Price Today
Litecoin has registered a 2.61% loss over 24 hours. At the time of writing, it was trading at $71.82. The LTC price in India stood at Rs 5,023.08.
Ripple (XRP) Price Today
XRP price settled at $0.6481, registering a 7.62% increase over 24 hours. Ripple price in India stood at Rs 50.79.
Solana (SOL) course today
Solana price settled at $179.44, marking a 1.44% loss over 24 hours. SOL price in India stood at Rs 15,738.
Top Cryptocurrency Gainers Today (July 31)
According to data from CoinMarketCap, here are the top five cryptocurrency gainers over the past 24 hours:
Ripple (XRP)
Price: $0.6523
24 hour gain: 8.43 percent
Stellar (XLM)
Price: $0.1058
24 hour gain: 6.05 percent
EOS (EOS)
Price: $0.5833
24 hour gain: 2.08 percent
Toncoin (TON)
Price: $6.75
24 hour gain: 2 percent
Binance (BNB)
Price: $583.99
24 hour gain: 1.86 percent
Biggest Cryptocurrency Losers Today (July 31)
According to data from CoinMarketCap, here are the top five crypto losers over the past 24 hours:
AIOZ Network (AIOZ)
Price: $0.5963
24 hour loss: 8.55 percent
Theta Network (THETA)
Price: $1.39
24 hour loss: 7.94 percent
Sei (SEI)
Price: $0.3282
24 hour loss: 7.92 percent
Akash Network (AKT)
Price: $2.93
24 hour loss: 7.35 percent
Immutable (IMX)
Price: $1.41
24 hour loss: 6.23 percent
What Cryptocurrency Exchanges Are Saying About the Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live: “Bitcoin continues to trade below $67,000, under pressure from the US government’s sell-off of Silk Road-linked Bitcoin. It extended its losses, testing the $65,500 area, but has since bounced back to $66,000. A decisive move above the $66,500 resistance could push the price higher in the coming sessions. However, if Bitcoin fails to clear this resistance, it could decline further. The immediate support on the downside is near the $66,000 level.”
CoinSwitch Markets Desk noted: “Broader crypto markets continued to decline for another day as investors await the Bank of England interest rate decision and the Federal Reserve interest rate decision this week. With Grayscale’s ETF seeing net outflows of $120 million during the day, ETH also traded below the $3,300 mark. Ethereum, however, has major support around the $2,800 mark even as the downtrend continues. In another development, the world’s second-largest stablecoin issuer Circle is reportedly trading around the $5 billion mark, albeit well below its last failed listing attempt at $9 billion.”
Sathvik Vishwanath, CEO and co-founder of Unocoin, said: “Bitcoin (BTC) is currently trading at $65,714, up from over $67,500 after the US government moved $2 billion worth of bitcoin to new addresses. The move has sparked speculation about political motivations, with some fearing it could harm the stability of the bitcoin market, while others see potential benefits. Despite this, Robert Kiyosaki remains bullish and predicts that Bitcoin could reach $300,000. He also supports Ethereum and Solana. Bitcoin’s immediate resistance is at $66,852 and support at $65,000. The RSI indicates oversold conditions and points to possible further declines if the price falls below $65,900.”
Shivam Thakral, CEO of BuyUcoin, said: “The global cryptocurrency market cap currently stands at $2.38 trillion, a slight decline of 0.68%. Although the trading volume fell by 23.27% to $62.54 billion, the vitality of the market remains evident. Stablecoins dominate with $56.9 billion, or 90.98% of the volume. Bitcoin maintains a strong market dominance with 54.85%. As confidence in Bitcoin grows, especially with government initiatives such as the US Strategic Bitcoin Reserve, the outlook for the cryptocurrency market remains positive, indicating a potential recovery.”
CoinDCX research team told ABP Live: “The cryptocurrency market has been mixed, with BTC exhibiting choppy and sideways price action around its resistance level. ETH has also been trading sideways, while most altcoins have seen a slight decline. Historically, BTC returns in July 2024 have been positive. Looking at August in previous bull cycle years (2021, 2017, 2013), BTC has consistently closed in the green. This suggests the potential for a good uptrend in August, possibly followed by a small correction in September, based on historical data.”
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