By: Shayak Majumder | Updated at : 06 Nov 2023 09:48 AM (IST)
Bitcoin price stood at $35,032.16 on Monday. ( Image Source : fabrikasimf/Freepik )
Bitcoin (BTC) managed to reclaim the $35,000 mark early Monday, recovering from the brief slump following the conviction of embattled crypto platform FTX founder Sam Bankman-Fried over money embezzlement. The overall market’s Fear & Greed Index stood at 73 (greed) as per CoinMarketCap. Popular altcoins — including the likes of Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), and Litecoin (LTC) — landed in the greens across the board. MultiversX (EGLD) became the biggest gainer of the lot, with a 24-hour jump of over 37 percent. GateToken (GT), on the other hand, became the biggest loser, with a 24-hour loss of over 1 percent.
Bitcoin price stood at $35,032.16, registering a 24-hour loss of 0.81 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 30 lakh.
ETH price stood at $1,887.45, marking a 24-hour jump of 0.20 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.62 lakh.
DOGE registered a 24-hour gain of 2.80 percent, as per CoinMarketCap data, currently priced at $0.07185 As per WazirX, Dogecoin price in India stood at Rs 6.11.
Litecoin saw a 24-hour jump of 0.49 percent. At the time of writing, it was trading at $71.85. LTC price in India stood at Rs 6,128.86.
XRP price stood at $0.683, seeing a 24-hour gain of 9.35 percent. As per WazirX, Ripple price stood at Rs 59.04.
Solana price stood at $41.19, marking a 24-hour loss of 3.46 percent. As per WazirX, SOL price in India stood at Rs 3,508.86.
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
24-hour gain: 37.19 percent
24-hour gain: 33.46 percent
24-hour gain: 23.98 percent
24-hour gain: 14.32 percent
24-hour gain: 12.24 percent
As per CoinMarketCap data, here are the top crypto losers over the past 24 hours:
24-hour loss: 1.22 percent
Bitget Token (BGB)
24-hour loss: 0.94 percent
PAX Gold (PAXG)
24-hour loss: 0.06 percent
Mudrex co-founder and CEO Edul Patel told ABP Live, “In the past 24 hours, Bitcoin has been trading at around the $35,000 level. This price movement could potentially be attributed to traders cashing in their Bitcoin holdings and shifting their investments towards altcoins, resulting in a rise in their prices. Another possible influencing factor is the US reporting the addition of 150,000 jobs in October, which falls short of the economist-predicted 180,000 and is a decline from the 297,000 jobs added in September. The unemployment rate has also increased to 3.9 percent, exceeding the expected 3.8 percent. In the same timeframe, Ethereum has maintained a steady trading level near $1,900, while Ripple has experienced a significant price surge of more than 9.6 percent.”
Parth Chaturvedi, Investments Lead, CoinSwitch Ventures, said, “The recent rally from last week crypto has boosted investor sentiment, as the crypto fear an agreed index has jumped four points from yesterday to be within the greed zone with a score of 74/100. While the price momentum may look short-term, market analysts are seeing signs of sustainable demand driving the crypto uptrend. The top 10 cryptos by M.Cap. consists of a mix of red and green. BTC (-0.5 percent) seems to be consolidating just around $35,000 after hovering between $34,000 and $35,000. And while BTC is down 0.5 percent, ETH is up 1.3 percent on the back of increased engagements by whales on the network. In the DeFi space, lending protocol Aave (+0.3 percent) has paused certain operations as a temporary protection measure after coming across some issues; user funds remain safe.”
Rajagopal Menon, Vice President, WazirX, said, “Bitcoin bulls have retained the market optimism with the token recovering on Sunday alongside Ethereum, after a brief setback following FTX verdict. Cardano and XRP are on an upward trajectory, defying bearish sentiments and indicating new highs for the coming days.”
Shivam Thakral, CEO of BuyUcoin, said, “The crypto market had an exciting weekend as BTC breached the $35,000 mark once again. In an interesting move, ETH outperformed BTC by a few basis points in the last seven days. Ethereum touched the $1,900 mark as the impressive rally attracted fresh capital into the Ethereum smart contract ecosystem. The Ripple vs SEC lawsuit’s outcome seems to be leaning towards Ripple which resulted in a mini rally of close to 10 percent in its native token XRP. The overall digital asset market is poised for healthy growth in the long term.”
CoinDCX Research Team told ABP Live, “During the weekend, BTC traded within a range of $34,000 to $35,000, while ETH delivered positive returns, surpassing the $1,875 resistance level and outperforming BTC. Furthermore, there was a decrease of over 1.5 percent in BTC dominance, indicating potential opportunities for altcoins to shine. ETH dominance has also found support, potentially signalling a recovery. It’s worth mentioning that the recently released macro data, including the US Non-Farm Employment Change (Monthly) and US Unemployment Rate (Monthly) announcements on Friday, has had a neutral to positive impact on the crypto space.”
Subscribe And Follow ABP Live On Telegram: t.me/officialabplive
Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Cryptocurrency is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Cryptocurrency market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.
Crypto Week Ahead: Bitcoin Manages To Regain Streak Following Sam Bankman-Fried Conviction
FTX Founder Sam Bankman-Fried Found Guilty Of Multi-Billion Dollar Fraud
Cryptocurrency Price Today: Bitcoin Dips Below $35,000, Solana Becomes Biggest Loser
Cryptocurrency Price Today: Bitcoin Rises Above $35,000, Solana Becomes Top Gainer
Cryptocurrency Price Today: Bitcoin Stable Above $34,000, THETA Becomes Top Gainer
Ahead Of Phase-1 Polling In Chhattisgarh, CM Baghel Faces The Heat For Mahadev App Case. Top Points
‘Only CM Kejriwal Has Mandate To Run Govt, Even If From Jail’: Delhi Ministers After Cabinet Meeting
‘Restoration Of Peace Important’: PM Modi Speaks To Iranian President, Discusses Israel Hamas Conflict
Telangana Polls: Congress Releases 3rd List Of 16 Candidates, Revanth Reddy To Face CM KCR In Kamareddy
‘We Have To Make A Choice’: Bombay HC Sets Time Limit For Bursting Crackers In Mumbai On Diwali