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Bitcoin Stable at $71,000, Wormhole Becomes Top Gainer
Bitcoin (BTC), the world’s oldest and most valued cryptocurrency, managed to stay above the $71,000 mark early Wednesday, occasionally dropping as low as $70,000 before rallying back not long after. Other popular altcoins — including Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Solana (SOL), and Litecoin (LTC) — ended up in the green across the board as the overall market fear and greed index he remained standing. to 66 (Greed) out of 100, according to CoinMarketCap data. The Stacks (STX) token was the biggest gainer, with a jump of more than 9% in 24 hours. Toncoin (TON) became the biggest loser, down nearly 7% over 24.
At the time of writing, the global cryptocurrency market capitalization stood at $2.63 trillion, recording a 0.15% decline over 24 hours.
Bitcoin (BTC) price today
According to CoinMarketCap, the price of Bitcoin stood at $71,222.08, recording a jump of 0.20% in 24 hours. According to Indian exchange WazirX, the price of BTC stood at Rs 61.07 lakh.
Ethereum (ETH) price today
At the time of writing, ETH price stood at $3,857.69, marking a 24-hour gain of 1.32%. According to WazirX, the price of Ethereum in India stood at Rs 3.31 lakh.
Dogecoin (DOGE) price today
DOGE is down 0.70% in 24 hours, according to CoinMarketCap data, with the price currently trading at $0.1623. According to WazirX, the price of Dogecoin in India was Rs 13.70.
Litecoin (LTC) price today
Litecoin recorded a 1.38% jump in 24 hours. As of this writing, it was trading at $85.02. The price of LTC in India stood at Rs 7,151.
Ripple (XRP) price today
XRP price settled at $0.5255, registering a 0.09% jump in 24 hours. According to WazirX, the price of Ripple stood at Rs 44.94.
Solana (SOL) Price today
Solana’s price settled at $171.32, marking a decline of 1.15% in the 24 hours. According to WazirX, the SOL price in India stood at Rs 14,506.81.
Top cryptocurrency gains today (June 7)
According to CoinMarketCap data, here are the five biggest cryptocurrency gains in the last 24 hours:
Wormholes (W)
Price: $0.7077
Earnings over 24 hours: 13.03%.
JasmyCoin (JASMY)
Price: $0.04153
Earnings over 24 hours: 9.63%.
ORDER (ORDER)
Price: $62.14
Earnings over 24 hours: 8.98%.
Injective (INJ)
Price: $28.38
Earnings over 24 hours: 7.06%.
Toncoin (TON)
Price: $7.67
Earnings over 24 hours: 6.30%.
Top cryptocurrency losers today (June 7)
According to CoinMarketCap data, here are the top five cryptocurrency losers over the past 24 hours:
Bitget Token (BGB)
Price: $1.21
Loss in 24 hours: 7.24%.
Notcoin (NOT)
Price: $0.02119
Loss in 24 hours: 5.73%.
Bon (Bonk)
Price: $0.00003197
Loss in 24 hours: 4.95%.
Fetch.ai (FET)
Price: $2.03
Loss in 24 hours: 4.85%.
Kaspa (KAS)
Price: $0.1735
Loss in 24 hours: 4.83%.
What cryptocurrency exchanges are saying about the current market scenario
Mudrex co-founder and CEO Edul Patel told ABP Live: “After breaking above $71,000 on Thursday, Bitcoin is now consolidating around $70,000 as the market awaits the release of US jobs data later today. If today’s jobs report and consumer price index (CPI) data, which will be released next week, align with market expectations, this could potentially send BTC to a new all-time high. The next resistance level is at $71,400, with support at $70,100.
CoinSwitch Markets Desk noted: “Yesterday, Bitcoin (BTC) rose to $71,700 following the European Central Bank (ECB) rate cut. However, the rally was short-lived, BTC fell rapidly and almost fell below $70,000 before settling slightly above that level today Over the same period, Uniswap’s (UNI) token, Chainlink’s LINK and Near’s NEAR have seen declines of 3%-5%. acquired Bitcoin for an additional $17 million, bringing its total holdings to $74 million. The company plans to raise $150 million to buy more Bitcoin. This move follows its previous investment of $40 million Semler into Bitcoin, which led to a 25% increase in its stock price.”
Rajagopal Menon, vice president at WazirX, said: “Bitcoin is approaching its March record high, currently just $3,000 lower, driven by a weaker dollar and expectations of Federal Reserve rate cuts. Renewed momentum among investors Bitcoin spot ETF is significant. Furthermore, rate cuts by the Bank of Canada and expected cuts by the European Central Bank have further strengthened optimism regarding lower global interest rates, supporting Bitcoin’s recovery.”
Sathvik Vishwanath, CEO and co-founder of Unocoin, said: “Bitcoin is at $70,900, down 1%, with a pivot point at $70,600 indicating potential upside movement. Resistance levels are at 71,800 $, $72,500 and $73,100, while support levels are at $70,600, $69,650 and $68,500. A bullish breakout from the symmetric triangle at $70,600, the 50-day EMA at $69,000 and the RSI at $66 indicate. Buying interest, however, is that a double gain near $71,800 calls into question increased buying pressure, while the move could push Bitcoin to $72,500. a break below $70,600 could signal a bearish trend.
Shivam Thakral, CEO of BuyUcoin, said: “The overall cryptocurrency market capitalization has jumped to the $2.63 trillion mark, with cryptocurrency heavyweights such as Bitcoin and Ethereum leading the effort. Bitcoin topped $71,000 on Tuesday while BTC ETFs saw inflows of $880 million on Tuesday, one of the best days since March for spot ETFs. The increase in investor activity may be a result of the Ethereum ETF listing approval and encouraging digital asset developments stemming from the ongoing US presidential campaign. If the momentum continues, we could see BTC hit the $100,000 mark by the end of 2024, as predicted by banking giant Standard Chartered.”
CoinDCX’s research team told ABP Live: “The cryptocurrency market continued to be mixed, with BTC and ETH moving in a sideways range on lower time frames. BTC failed to break out of the resistance level key at $71,400. Currently, price action on the lower time frames is mixed, while it remains bullish on the longer time frames.”
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