Cryptocurrency Price Today (January 8): Bitcoin Dips To $96,000 As Top Coins See Bloodbath
Cryptocurrency price on January 8 quick take: The global market cap dipped to $3.35 trillion.
Bitcoin (BTC), the world’s oldest and most valued crypto, dipped down to the $96,000 range early Wednesday, a day after charting a high of $102k. Other popular altcoins — including the likes of Ethereum (ETH), Solana (SOL), Ripple (XRP), and Litecoin (LTC) — landed in the reds across the board as overall Market Fear & Greed Index stood at 54 (Neutral) out of 100, as per CoinMarketCap data. The Bitget Token (BGB) token emerged to be the top gainer, with a 24-hour jump of nearly 3 percent. Hyperliquid (HYPE) was the biggest loser today, with a 24-hour dip of over 16 percent.
The global crypto market cap stood at $3.35 trillion at the time of writing, registering a 24-hour dip of 6.25 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $96,197.46, registering a 24-hour loss of 5.53 percent, as per CoinMarketCap. According to Indian exchanges, BTC price stood at Rs 85.52 lakh.
Ethereum (ETH) Price Today
ETH price stood at $3,349.23, marking a 24-hour dip of 8.83 percent at the time of writing. Ethereum price in India stood at Rs 3.16 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour loss of 10.56 percent, as per CoinMarketCap data, currently priced at $0.3495. Dogecoin price in India stood at Rs 33.27.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour loss of 8.83 percent. At the time of writing, it was trading at $102.73. LTC price in India stood at Rs 9,877.32.
Ripple (XRP) Price Today
XRP price stood at $2.32, seeing a 24-hour dip of 3.91 percent. Ripple price in India stood at Rs 207.21.
Solana (SOL) Price Today
Solana price stood at $197.24, marking a 24-hour loss of 8.75 percent. SOL price in India stood at Rs 18,514.61.
Top Crypto Gainers Today (January 8)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
Bitget Token (BGB)
Price: $6.49
24-hour gain: 2.50 percent
Injective (INJ)
Price: $25.92
24-hour gain: 11.24 percent
Filecoin (FIL)
Price: $6.20
24-hour gain: 10.17 percent
XDC Network (XDC)
Price: $0.09736
24-hour gain: 8.94 percent
AIOZ Network (AIOZ)
Price: $1.14
24-hour gain: 7.97 percent
Top Crypto Losers Today (January 8)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
Hyperliquid (HYPE)
Price: $21.27
24-hour loss: 16.25 percent
Celestia (TIA)
Price: $4.68
24-hour loss: 14.33 percent
Pudgy Penguins (PENGU)
Price: $0.0365
24-hour loss: 13.66 percent
dYdX (Native) (DYDX)
Price: $1.39
24-hour loss: 13.48 percent
Gala (GALA)
Price: $0.03629
24-hour loss: 13.43 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin is stabilising at $97,000 after reaching a high of $102,700 as strong U.S. economic data took the 10-year U.S. Treasury yield to a multi-year high of 4.68%, prompting profit-booking in stocks and the crypto market. Notably, institutions like MicroStrategy utilised this correction to accumulate more Bitcoin showing institutional confidence in the market. Retail investors are showing buying interest at lower levels, anticipating a potential relief rally. At present, BTC’s support has moved back to $94,500 with immediate resistance at $98,600.”
CoinSwitch Markets Desk noted, “As crypto markets took a nosedive yesterday after briefly crossing the crucial resistance at 100k mark, other crypto followed suit with the leading altcoin ethereum dipping below 3400, losing the last 7 days worth of gains. The reason for this volatile move can be attributed to the stronger than expected US economic data which diminishes the hopes of aggressive rate cuts by the Fed. More than 300 million dollars worth of crypto longs were liquidated in the process.”
Avinash Shekhar, Co-founder & CEO, Pi42, said, “Bitcoin's brief foray above the $100,000 mark highlights the volatility and unpredictability of the crypto market. While the surge was fueled by key institutional purchases like those from MicroStrategy, the rapid downturn shows how quickly sentiment can shift. As seen with the sharp declines across altcoins such as LINK, DOGE, and AVAX, this level of price fluctuation is exacerbated for over-leveraged traders. The staggering liquidation figures—exceeding $600 million in a single day—demonstrate the risks that come with speculative trading in such an erratic market. For investors, it's crucial to remain cautious and avoid overexposure, particularly in a landscape where the momentum can reverse within hours.”
Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “Bitcoin (BTCUSD) is currently trading around $96,500, with a bearish outlook expected to push prices towards $95,195. It is important to watch this level as a break below it could trigger further declines and potentially target $90,000 and $87,055 as key support zones. Downward momentum is reinforced by price movement below the 50-day EMA. However, if Bitcoin manages to break above $99,785, it could reverse the negative trend and resume its bullish trajectory. For today, the expected price range is between $93,500 (support) and $98,500 (resistance), with the trend forecast remaining bearish.”
Shivam Thakral, CEO of BuyUcoin, said, “In the last 24 hours, the crypto market faced notable declines, primarily due to stronger-than-expected U.S. economic indicators that may delay Federal Reserve rate cuts. Bitcoin fell below $97,000, marking a significant drop of over 5%, while Ethereum (ETH) and other altcoins also suffered losses, contributing to a 6% decrease in the total cryptocurrency market capitalization to $3.7 trillion. Despite this setback, the long-term outlook remains optimistic as all eyes turn to India’s Finance Minister Nirmala Sitharaman, who is set to present the Union Budget 2025 on February 1.”
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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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