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The crypto market prices continued to dip today with major cryptocurrencies bleeding due to selling pressure from traders. Bitcoin (BTC), the largest crypto by market cap, fell below the $40,000 mark while some smaller altcoins outperformed the significant players in the domain.
Today’s crypto prices suggest notable lows for both Bitcoin and Ethereum (ETH). This comes after the hype around Spot Bitcoin ETFs began slacking off. However, crypto analysts deem the recent bearish trend as an opportunity to ‘buy the dip’ as they’re optimistic about the crypto arena’s long-term potential.
Major Crypto Prices Today
Bitcoin, the world’s oldest crypto, saw its price extending lower than the $39,000 level and rebounding thereafter. The Bitcoin price saw a 1.25% decline, settling at $39,637.47 at the time of writing on Wednesday, January 24. Whilst, it’s trading volume dipped by 1.99% to $30.19 billion in the last 24 hours. The digital currency boasted a market cap of $777.14 billion
Looking at other cryptocurrencies, the Ethereum price plummeted by 5.47% to $2,218.93 at press time. On the contrary, it recorded a 21.76% hike in its trade volume, reaching $16.59 billion. Moreover, Binance Coin (BNB) slipped by 4.85% to $295.80, while its 24-hour trade volume rose by 14.81% to $1.06 billion.
Furthermore, Solana experienced a 2% slump in price, settling at $84.05. On the contrary, it registered a 19.62% increase in trade volume to $3.14 billion. Whilst, XRP saw a 2.82% decline, reaching $0.5158, with a 25.92% hike in trading volume to $1.41 billion.
Meanwhile, Cardano’s price dipped by 3.72% to $0.4665. However, it witnessed a 26.13% increase in its 24-hour trading volume, reaching $557.39 million. Whilst, in the much-hyped meme coin market, Dogecoin retreated 3.29% lower to $0.07833 while its rival, Shiba Inu, plunged 8.35% and traded at $0.000008804.
Also Read: Ethereum ETFs: Hester Pierce Claims SEC Won’t ‘Repeat Same Mistakes’
Top Crypto Gainers & Losers Today
The Pepe coin, a trending meme crypto, extended further losses as traders made a shift to other safer options. The Pepe coin price slumped by 3.60% to $0.000001029. Whilst, its trading volume surged by 16.54% to $71.54 million.
Akash Network (AKT), an AI crypto, recorded a 14% increase, defying the bearish sentiment in the market. The AKT price soared by 14.38% to $2.76 with a market cap of $623.39 million. In contrast, its 24-hour trade volume dropped by 14.51% to $5.76 million.
Blur (BLUR), one of trending virtual currencies, recorded a notable uptick as well. Blur’s value increased by 8.88% to $0.664. In addition, its trade volume spiked by a 50.08% to $405.74 million. Moreover, it attained a high of $0.6667 during the bullish rally.
Also Read: Jim Cramer Embraces ‘Number Go Down’ Theme As Bitcoin Drops 20% From High
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
The crypto prices today were mixed in the early trading session on Tuesday, November 7, as seen by the price fluctuations in many of the major cryptos. However, the broader market has shown resilience despite a decline in the Bitcoin price, suggesting that the investors might be shifting their focus on the altcoins.
The largest crypto by market cap, Bitcoin, has been on the investors’ radar lately, with Bitcoin Spot ETF approval speculations acting as one of the major catalysts in the market. In addition, several positive news from the regulatory angle, like Ripple partnering with the National Bank of Georgia as the official technology partner for Digital Lari, among others, has also fuelled the confidence of the investors.
In the crypto prices, the Bitcoin price ticked down 0.12% over the past 24 hours to $34,867.49 during writing, while its volume over the last 24 hours rose 2.80% to $12.71 billion. The market cap of the crypto fell 0.08% to $681.30 billion from yesterday.
Among other cryptos, the Ethereum price was up 0.40% to $1,889.72 as of writing, and its volume from yesterday was down 1.31% to $8.42 billion. Simultaneously, the BNB price rose 3.42% to trade at $251.41 during writing, with its volume soaring 37.90% to $548.01 million.
Meanwhile, the recent surge in BNB price has enabled BNB to retake the fourth position in terms of market cap among the top cryptocurrencies, following XRP’s temporary overtake on Monday.
However, the XRP price also noted gains of 0.48% to trade at $0.6843 during writing, and its volume from yesterday rose 48.17% to $3.37 billion. Its market cap was up 0.29% to $36.66 billion at the same time. In addition, the Cardano price surged 3.64% to $0.3559, with its one-day volume rising 34.83% to $435.96 million.
In the meme coin segment, the sentiment was also positive, as evidenced by the price surge in the crypto prices. For instance, the Dogecoin price noted gains of 4.24% and traded at $0.07435, while the Shina Inu price jumped 2.18% to $0.000008287. The trading volume of the former crypto rose 58.25% to $776.13 million from yesterday, while the latter added 6.73% to $207.35 million at the same time.
The cryptocurrency market experienced an upswing on November 7, primarily driven by gains in major cryptocurrencies. The global market cap for cryptocurrencies increased by 0.26% since the previous day, reaching $1.33 trillion. Additionally, trading volume over the past 24 hours surged by 6.45%, amounting to $40.46 billion. Notably, market sentiment appeared to be optimistic, with the crypto market fear and greed index registering a reading of 73, indicating a state of greed among investors.
Also Read: Here’s Why the Crypto Market Rally Looks More Sustained Despite Bitcoin Losing Market Grip
The Top 4 Cryptos For Today Are
Pepe Coin Soars 1%
The popular meme crypto, Pepe Coin price has continued to surge on Tuesday, registering gains of 1.49% to trade at $0.000001157 during writing. Meanwhile, the trading volume of the crypto jumped 8.95% to $123.56 million over the past 24 hours, and its market cap was up 1.71% to $482.14 million.
Blur (BLUR) Soars 18%
The Blur crypto was among the top percentage gainers on Tuesday, November 7, indicating a growing interest of the investors towards the crypto. The Blur price was up 18.27% to $0.3568 as of writing, and its volume skyrocketed 353.22% to $377.12 million. Meanwhile, the surge in the crypto price seems to be due to the recent spike in NFT sales in November, with Blur as the leading marketplace for non-fungible tokens.
Aave (AAVE) Jumps 15%
The Aave price noted gains of 15.20% to trade at $102.08 during writing on Tuesday, and its volume over the past 24 hours skyrocketed 151.66% to $316.22 million. In addition, the market cap of the crypto jumped 15.51% to $1.49 billion at the same time.
GRT Crypto Adds 7%
The Graph crypto was another top percentage gainer on November 7, as investors have shifted their focus on the altcoins. The Graph price was up 7.12% and traded at $0.1403 during writing, with its volume rocketing 127.12% to $305.71 million. Its market cap soared 6.34% to $1.29 billion.
Also Read: Michael Saylor Shares his Bitcoin Playbook To Compete With Magnificent Seven Companies
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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