Cryptocurrency Price Today: Bitcoin Dips Below $58,000, Stacks Becomes Biggest Gainer
Cryptocurrency price on July 11 quick take: The global market cap dipped to $2.12 trillion.
Bitcoin (BTC), the world’s oldest and most valued cryptocurrency, dipped below the $58,000 mark early Thursday. 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 40 (Fear) out of 100, as per CoinMarketCap data. The Stacks (STX) token emerged to be the biggest gainer, with a 24-hour jump of nearly 8 percent. Flare (FLR) became the biggest loser, with a 24-hour dip of over 7 percent.
The global crypto market cap stood at $2.12 trillion at the time of writing, registering a 24-hour dip of 2.08 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $57,730.46, registering a 24-hour dip of 2.24 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 51.88 lakh.
Ethereum (ETH) Price Today
ETH price stood at $3,085.60, marking a 24-hour loss of 0.95 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 2.75 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour dip of 1.80 percent, as per CoinMarketCap data, currently priced at $0.1077. As per WazirX, Dogecoin price in India stood at Rs 9.89.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour jump of 1.59 percent. At the time of writing, it was trading at $67.18. LTC price in India stood at Rs 6,041.46.
Ripple (XRP) Price Today
XRP price stood at $0.4412, seeing a 24-hour gain of 0.25 percent. As per WazirX, Ripple price stood at Rs 39.45.
Solana (SOL) Price Today
Solana price stood at $140.75, marking a 24-hour dip of 3.19 percent. As per WazirX, SOL price in India stood at Rs 12,700.
Top Crypto Gainers Today (July 11)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
Stacks (STX)
Price: $1.57
24-hour gain: 7.91 percent
MANTRA (OM)
Price: $0.9718
24-hour gain: 2.93 percent
Lido DAO (LDO)
Price: $1.63
24-hour gain: 2.75 percent
Ondo (ONDO)
Price: $0.9886
24-hour gain: 2.68 percent
Mantle (MNT)
Price: $0.6814
24-hour gain: 2.55 percent
Top Crypto Losers Today (July 11)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
Flare (FLR)
Price: $0.01843
24-hour loss: 7.43 percent
Avalanche (AVAX)
Price: $25.40
24-hour loss: 7.18 percent
dogwifhat (WIF)
Price: $1.63
24-hour loss: 6.34 percent
Notcoin (NOT)
Price: $0.01588
24-hour loss: 5.75 percent
Ethereum Name Service (ENS)
Price: $25.94
24-hour loss: 5.74 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin traded over the $58,000 level yesterday, however, it has since consolidated to $57,000 level due to pressure from miners and Mt. Gox refunds. Additionally, the German government has transferred more seized Bitcoin with presumed intent to sell adding to more downward pressure. BTC is having a hard time breaking through the $59,500 mark. If it doesn't climb above $58,400 today, it might drop to around $57,200. Meanwhile, Ethereum is trading above $3,100. Although it's still below the previous support level of $3,400, traders are slowly regaining confidence in Ether.”
CoinSwitch Markets Desk noted, “BTC, which is unable to go beyond the 58k mark for the last week, continued its sideways run as the overall volumes being traded dropped across the markets. For the short term, 54k USD is the big support, while 60k USD is the resistance level to watch. After the United States presidential candidate made a series of positive remarks about aiding the US crypto sector, Trump is now set to speak at the Bitcoin conference later this month to boost his pro-crypto image further.”
Rajagopal Menon, Vice President, WazirX, said, “Bitcoin continues its recovery, trading near $57,500, briefly surpassing the $58,500 mark earlier today. Bears closely monitoring BTC prices remained active at nearly $59,500. Currently, BTC corrects gains, dipping below $58,500 and testing the 50% Fibonacci retracement level. Key resistances are at $58,800 and $59,500, with the potential to test $60,000 if surpassed.”
Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “Bitcoin's recent market activity reflects resistance to significant swings. Despite a 15% drop over the past month to around $58,000, there is a promising 3.6% increase in trading volume to exceed $30 billion in 24 hours. Institutional investors such as BlackRock and Fidelity contributed $650 million to US-listed bitcoin ETFs, stabilizing prices. However, selling pressures from entities such as the German Federal Police and repayments of Mt.Gox creditors have negatively affected the market. Technical analysis suggests Bitcoin potentially breaking the $58,500 resistance and targeting $60,000, supported by bullish trends above $57,000.”
Shivam Thakral, CEO of BuyUcoin, said, “The BTC prices continue to decline amid selling pressure created by the German government and Mt. Gox. If we look at the monthly data, BTC has slipped by 15% with market experts blaming it on selling pressure shown by recent blockchain movements. The current dip has sparked buying interest from the users as they want to accumulate BTC at a lower process, the US ETF data shows a $438 million inflow in just 2 days. The market is expected to remain volatile due to uncertainty in the macroeconomic conditions.”
CoinDCX Research Team told ABP Live, “In the last 24 hours, the market traded mixed as the German government continued moving BTC, but BTC ETF inflows remained net positive, reaching $200 million day before yesterday, indicating sustained demand. The technical price action is currently mixed, with today's CPI data expected to induce more volatility in the market. In a positive development, Goldman Sachs announced plans to launch three tokenization projects by the end of the year, which could boost RWA and tokenization tokens.”
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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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