Cryptocurrency Price Today: Bitcoin Rises Above $44,000 For The First Time In A Month
Cryptocurrency price on February 8 quick take: The global market cap jumped to $1.71 trillion.
Bitcoin (BTC), the oldest and most valued cryptocurrency in the world, managed to rise above the $44,000 mark early Thursday, achieving the high for the first time since January 12. Other top coins, including the likes of — Ethereum (ETH), Dogecoin (DOGE), Solana (SOL), Ripple (XRP), and Litecoin (LTC) — saw minor gains and losses across the board. The Dymension (DYM) token remained the biggest gainer for the second consecutive day, with a 24-hour jump of nearly 20 percent. PENDLE, on the other hand, became the biggest loser, with a 24-hour dip of nearly 9 percent.
The global crypto market cap stood at $1.71 trillion at the time of writing, registering a 24-hour gain of 3.41 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $44,544.64, registering a 24-hour gain of 4.06 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 38.75 lakh.
Ethereum (ETH) Price Today
ETH price stood at $2,431.98, marking a 24-hour gain of 2.84 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 2.14 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour jump of 1.97 percent, as per CoinMarketCap data, currently priced at $0.08008. As per WazirX, Dogecoin price in India stood at Rs 6.91.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour gain of 1.51 percent. At the time of writing, it was trading at $68.90 LTC price in India stood at Rs 6,085.86.
Ripple (XRP) Price Today
XRP price stood at $0.5142, seeing a 24-hour jump of 2.11 percent. As per WazirX, Ripple price stood at Rs 44.85.
Solana (SOL) Price Today
Solana price stood at $101.78, marking a 24-hour gain of 6.49 percent. As per WazirX, SOL price in India stood at Rs 8,785.
Top Crypto Gainers Today (February 8)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
Dymension (DYM)
Price: $5.90
24-hour gain: 19.95 percent
Kaspa (KAS)
Price: $0.1217
24-hour gain: 15.58 percent
Celestia (TIA)
Price: $19.44
24-hour gain: 12.71 percent
Flare (FLR)
Price: $0.03046
24-hour gain: 10.86 percent
Stacks (STX)
Price: $1.68
24-hour gain: 10.84 percent
Top Crypto Losers Today (February 8)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
Pendle (PENDLE)
Price: $2.96
24-hour loss: 8.91 percent
Pyth Network (PYTH)
Price: $0.4793
24-hour loss: 2.96 percent
WEMIX (WEMIX)
Price: $2.24
24-hour loss: 2.66 percent
Ronin (RON)
Price: $2.66
24-hour loss: 2.07 percent
Ethereum Name Service (ENS)
Price: $21.77
24-hour loss: 1.84 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin surged above the $44,500 level in the last 24 hours for the first time since January 12, due to increased accumulation from large holders. Immediate resistance for Bitcoin is at the $44,800 level, and surpassing this could initiate an increase, while support is at the $44,300 level in the event of a correction. Meanwhile, Ethereum also breached the $2,400 threshold for the first time in two weeks, with Dencun Upgrade going live yesterday on Holesky Testnet. The overall market looks bullish.”
CoinSwitch Markets Desk noted, “BTC (+3.7%) broke through the upside and reached its highest price in almost one month as it reached near $44.7k during early hours today. The next significant resistance in BTC lies around the $45.6k mark which is another 2.5% away. Popular altcoin SOL (+5%) also saw a comeback as after Solana blockchain came for a five-hour halt a day back, the upside price uptrend was not impacted and the bulls were still able to take the price back above the psychological $100 mark.”
Rajagopal Menon, Vice President, WazirX, said, “Bitcoin (BTC) soared to a four-week peak, surpassing $44,000, fueled by heightened accumulation by major holders and U.S. equity indices hitting new highs. The crypto, rallying from $42,700 to $44,300, marked its highest since Jan. 12, following the launch of bitcoin ETFs. Analysts suggest a reversal in miners' selling pressure, countering recent BTC declines. Ethereum's Ether (ETH) surged past $2,400 on renewed optimism surrounding spot ETFs, achieving a two-week high.”
Shivam Thakral, CEO of BuyUcoin, said, “The Total Crypto market cap has reached $1.7T, a 3.41% increase from the last day. Bitcoin is leading this pump and has finally crossed the $44,000 level showing great strength. On, the other hand Ethereum is still lagging around $2400. This fresh demand and volume for Bitcoin could be attributed to the Bitcoin ETF craze and the positive sentiments around it. Over the next few weeks, Altcoins can see potential upside with good volume after a decrease in Bitcoin dominance.”
CoinDCX Research Team told ABP Live, “In the past 24 hours, the crypto market saw a significant surge of nearly 3%. BTC broke out of its consolidation phase in a smaller timeframe, reaching the upper level of its range at $44,500. This bullish move indicates potential for further upward momentum, with the next levels at $45,400 and $48,000. Altcoins also closed in the green, benefiting from BTC's rally. ETH broke out above its range high, currently holding above $2,450, which is a positive signal for ETH and related tokens. The next resistance levels for ETH are at $2,600-$2,700 locally, and the key level at $2,900.”
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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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