Cryptocurrency Price Today: Bitcoin Dips Below $70,000 Due To High Liquidation
Cryptocurrency price on April 10 quick take: The global market cap dipped to $2.58 trillion.
Bitcoin (BTC), the world’s oldest and most valued cryptocurrency, dipped below the $70,000 mark early Wednesday due to high selloffs among investors after the coin crossed the $71,000 mark yesterday. Other popular altcoins — including the likes of Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Solana (SOL), and Litecoin (LTC) — landed in the reds across the board as the overall Market Fear & Greed Index stood at 75 (Greed) out of 100, as per CoinMarketCap data. The Bittensor (TAO) token emerged as the biggest gainer of the lot, with a 24-hour jump of over 7 percent. dogwifhat (WIF) became the biggest loser, with a 24-hour dip of nearly 16 percent.
The global crypto market cap stood at $2.58 trillion at the time of writing, registering a 24-hour dip of 3.70 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $69,089.01, registering a 24-hour dip of 3.05 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 60.93 lakh.
Ethereum (ETH) Price Today
ETH price stood at $3,508.86, marking a 24-hour loss of 4.81 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 3.10 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour dip of 5.59 percent, as per CoinMarketCap data, currently priced at $0.1879. As per WazirX, Dogecoin price in India stood at Rs 16.57.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour loss of 4.74 percent. At the time of writing, it was trading at $97.22. LTC price in India stood at Rs 8,648.99.
Ripple (XRP) Price Today
XRP price stood at $0.6061, seeing a 24-hour dip of 1.12 percent. As per WazirX, Ripple price stood at Rs 53.49.
Solana (SOL) Price Today
Solana price stood at $171.12, marking a 24-hour loss of 3.44 percent. As per WazirX, SOL price in India stood at Rs 15,200.69.
Top Crypto Gainers Today (April 10)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
Bittensor (TAO)
Price: $632.47
24-hour gain: 7.30 percent
Fantom (FTM)
Price: $0.9611
24-hour gain: 3.29 percent
KuCoin Token (KCS)
Price: $10.51
24-hour gain: 1.99 percent
Nervos Network (CKB)
Price: $0.03195
24-hour gain: 1.80 percent
UNUS SED LEO (LEO)
Price: $5.85
24-hour gain: 0.09 percent
Top Crypto Losers Today (April 10)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
dogwifhat (WIF)
Price: $3.42
24-hour loss: 15.58 percent
Wormhole (W)
Price: $0.8327
24-hour loss: 13.32 percent
Conflux (CFX)
Price: $0.3256
24-hour loss: 11.10 percent
Aptos (APT)
Price: $12.41
24-hour loss: 11.08 percent
Lido DAO (LDO)
Price: $2.65
24-hour loss: 10.73 per cent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin fell to the $68,000 mark from yesterday's peak of $72,000 amidst heightened liquidations. Investors are now closely monitoring the upcoming US CPI data, anticipated to surpass initial projections. Despite this setback, Bitcoin has recorded a remarkable 63% surge year-to-date and a staggering 142% rise over the past year. The cryptocurrency's immediate support rests at $67,700, with resistance at $70,400.”
The CoinSwitch Markets Desk noted, “While BTC struggled to break above the 73k USD mark, the world’s largest crypto asset experienced a decrease of close to 4% in the day, testing the support at around the 68k USD mark, with most of the altcoins following a similar trend. The biggest losers among the top cryptos remained memecoins, as WIF (-18%), PEPE (-12%), and DOGE (-7.4%) all continued to struggle as markets slumped. In altcoin news, with the Solana network congested for almost a week now, the price action has also started to reflect this, with Solana prices trading below the 170-dollar mark. One of the few cryptos that remained in the green today was one of Solana's EVM-compatible L1 rivals, FTM (+2%), which saw gains as its much-anticipated sonic upgrade gets closer to production, with the first validator with sonic tech going live yesterday.”
Rajagopal Menon, Vice President, WazirX, said, “Bitcoin experienced a downturn, dropping below the $69k mark as bearish sentiment overshadowed bullish activity. Amidst ongoing price fluctuations, market demand for Bitcoin appears somewhat unsettled. Analysis of Bitcoin's hull moving average suggests a 'Sell' sentiment, reflecting the broader market sentiment. The next support level is anticipated at $68,955, with resistance levels identified at $72,609 and $69,500 respectively. Meanwhile, Ethereum proponents are facing challenges in their hopes for an ETF approval, with the SEC providing limited updates on the matter.”
Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “Despite the conventional belief in the bullish impact of halving events, Hayes foresees a market decline, attributing this to the prevailing optimism surrounding the event. Hayes is skeptical of the upcoming Bitcoin halving, a halving of miners' rewards, saying that the widespread positivity could create an opposite market reaction, which could lead to a fall in Bitcoin prices. Economic factors such as the tightening of US dollar liquidity and the culmination of tax payments could worsen the situation by taking liquidity out of the market. Hayes adjusted his portfolio accordingly, selling assets like Solana and converting them to USDe to get the proceeds. It suggests that the post-May period could offer a more favorable business environment after the pace of quantitative tightening and potential fiscal stimulus eases.”
Shivam Thakral, CEO of BuyUcoin, said, “After a day of good recovery , Bitcoin price saw a 5% dip on the daily timeframe and has found support just above the $68,400 level. The upcoming halving in less than 10 days will lead to the block rewards reduced from 6.25 Bitcoin to 3.125 Bitcoin.This price action is a result of long-term investors booking profits ahead of the forthcoming halving. For instance, Grayscale (GBTC) had a net outflow of over 2,990 BTC.”
CoinDCX Research Team told ABP Live, “In the past day, the crypto market remained bullish, with both ETH and BTC gaining more than 5%, and ETH outperforming BTC. Technically, BTC surpassed the $72,000 mark and is now consolidating near the resistance level at $71,300. BTC needs to clear its all-time high level for further upside movement, with price action and indicators suggesting a bullish outlook. Meanwhile, ETH has shown stronger performance, surpassing a key level at $3,655 and currently trading slightly above it. A continuation from here could propel ETH above key resistance levels at $3,960 and $4,070. Additionally, the ETH/BTC pair saw an increase, aiding in altcoins gaining 5-10%.”
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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.
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