Cryptocurrency Price Today: Bitcoin Dips Below $66,000, Ripple Becomes Biggest Gainer
Cryptocurrency price on July 31 quick take: The global market cap dipped to $2.37 trillion.
Bitcoin (BTC), the world’s oldest and most valued cryptocurrency, continued to be on a downward trend and dipped below the $66,000 mark early Wednesday. Other popular altcoins — including the likes of Ethereum (ETH), Dogecoin (DOGE), Solana (SOL), and Litecoin (LTC) — landed in the reds across the board (except Ripple) as the overall Market Fear & Greed Index stood at 60 (Greed) out of 100, as per CoinMarketCap data. The Ripple (XRP) token became the biggest gainer of the lot, with a 24-hour jump of over 8 percent. AIOZ became the biggest loser, with a 24-hour dip of over 8 percent.
The global crypto market cap stood at $2.37 trillion at the time of writing, registering a 24-hour dip of 1.12 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $65,661.71, registering a 24-hour dip of 1.47 percent, as per CoinMarketCap. According to Indian exchanges, BTC price stood at Rs 58.13 lakh.
Ethereum (ETH) Price Today
ETH price stood at $3,274.76, marking a 24-hour loss of 1.11 percent at the time of writing. Ethereum price in India stood at Rs 2.79 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour dip of 3.69 percent, as per CoinMarketCap data, currently priced at $0.1247. Dogecoin price in India stood at Rs 11.20.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour loss of 2.61 percent. At the time of writing, it was trading at $71.82. LTC price in India stood at Rs 5,023.08.
Ripple (XRP) Price Today
XRP price stood at $0.6481, seeing a 24-hour jump of 7.62 percent. Ripple price in India stood at Rs 50.79.
Solana (SOL) Price Today
Solana price stood at $179.44, marking a 24-hour loss of 1.44 percent. SOL price in India stood at Rs 15,738.
Top Crypto Gainers Today (July 31)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
Ripple (XRP)
Price: $0.6523
24-hour gain: 8.43 percent
Stellar (XLM)
Price: $0.1058
24-hour gain: 6.05 percent
EOS (EOS)
Price: $0.5833
24-hour gain: 2.08 percent
Toncoin (TON)
Price: $6.75
24-hour gain: 2 percent
Binance (BNB)
Price: $583.99
24-hour gain: 1.86 percent
Top Crypto Losers Today (July 31)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
AIOZ Network (AIOZ)
Price: $0.5963
24-hour loss: 8.55 percent
Theta Network (THETA)
Price: $1.39
24-hour loss: 7.94 percent
Sei (SEI)
Price: $0.3282
24-hour loss: 7.92 percent
Akash Network (AKT)
Price: $2.93
24-hour loss: 7.35 percent
Immutable (IMX)
Price: $1.41
24-hour loss: 6.23 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin continues to trade below $67,000, pressured by the US Government's sale of Silk Road-linked Bitcoin. It extended its losses, testing the $65,500 zone, but has since rebounded to $66,000. A decisive move above the $66,500 resistance could drive the price higher in the coming sessions. However, if Bitcoin fails to break past this resistance, it may decline further. Immediate support on the downside is near the $66,000 level.”
CoinSwitch Markets Desk noted, “Broader crypto markets continued retracing for another day, as investors await the interest rate decision from Bank of England and Federal Reserve’s interest rate decision this week. With Grayscale’s ETF having net 120 million dollar outflows in the day, ETH also traded lower below the 3300 USD mark. Ethereum however has a major support around the 2800 USD mark even if the downtrend continues. In another development, the world’s second largest stable coin issuer Circle is reportedly trading around the 5 billion dollar mark, albeit much lower than the last failed listing attempt at 9 billion dollars.”
Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “Bitcoin (BTC) is currently trading at $65,714, down from over $67,500 after the US government transferred $2 billion worth of bitcoins to new addresses. The move has sparked speculation of political motives, with some fearing it could harm the stability of the bitcoin market, while others see potential benefits. Despite this, Robert Kiyosaki remains optimistic and predicts that Bitcoin could reach $300,000. It also supports Ethereum and Solana. Bitcoin's immediate resistance is at $66,852 and support at $65,000. The RSI indicates oversold conditions and indicates possible further declines if the price falls below $65,900.”
Shivam Thakral, CEO of BuyUcoin, said, “The global cryptocurrency market cap currently stands at $2.38 trillion, reflecting a slight dip of 0.68%. Although trading volume dropped by 23.27% to $62.54 billion, the market vitality remains evident. Stablecoins dominate with $56.9 billion, making up 90.98% of the volume. Bitcoin retains a strong 54.85% market dominance. As confidence in Bitcoin strengthens, particularly with the government initiatives like the US Strategic Bitcoin Reserve, the outlook for the crypto market remains positive, indicating potential recovery.”
CoinDCX Research Team told ABP Live, “The crypto market has traded mixed, with BTC exhibiting choppy, sideways price action around its resistance level. ETH also moved sideways, while most altcoins experienced a slight fall. Historically, BTC returns in July 2024 have been positive. Looking at August in previous bull cycle years (2021, 2017, 2013), BTC has consistently closed in the green. This suggests the potential for a good uptrend in August, possibly followed by a small correction in September, according to historical data.”
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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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