Cryptocurrency Price Today: Bitcoin Rises Above $57,000, Memecoin Bonk Becomes Biggest Gainer
Cryptocurrency price on July 9 quick take: The global market cap rose to $2.11 trillion.
Bitcoin (BTC), the world’s oldest and most valued cryptocurrency, managed to rise above the $57,000 mark early Tuesday. Other popular altcoins — including the likes of Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Solana (SOL), and Litecoin (LTC) — landed in the greens across the board as the overall Market Fear & Greed Index stood at 37 (Fear) out of 100, as per CoinMarketCap data. Memecoin BONK emerged to be the biggest gainer, with a 24-hour jump of nearly 26 percent. JasmyCoin (JASMY) became the biggest loser, with a 24-hour dip of nearly 3 percent.
The global crypto market cap stood at $2.11 trillion at the time of writing, registering a 24-hour jump of 4.20 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $57,248.54, registering a 24-hour jump of 3.76 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 52.26 lakh.
Ethereum (ETH) Price Today
ETH price stood at $3.068.66, marking a 24-hour jump of 6.38 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 2.79 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour gain of 5.30 percent, as per CoinMarketCap data, currently priced at $0.108. As per WazirX, Dogecoin price in India stood at Rs 9.88.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour jump of 5.62 percent. At the time of writing, it was trading at $65.19. LTC price in India stood at Rs 5,900.
Ripple (XRP) Price Today
XRP price stood at $0.4336, seeing a 24-hour gain of 4.48 percent. As per WazirX, Ripple price stood at Rs 39.24.
Solana (SOL) Price Today
Solana price stood at $140.54, marking a 24-hour jump of 7.39 percent. As per WazirX, SOL price in India stood at Rs 12,957.41.
Top Crypto Gainers Today (July 9)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
Bonk (BONK)
Price: $0.00002588
24-hour gain: 25.67 percent
Celestia (TIA)
Price: $6.13
24-hour gain: 20.37 percent
Sei (SEI)
Price: $0.2988
24-hour gain: 16.06 percent
Pepe (PEPE)
Price: $0.000009519
24-hour gain: 15.35 percent
Ethena (ENA)
Price: $0.408
24-hour gain: 13.20 percent
Top Crypto Losers Today (July 9)
As per CoinMarketCap data, here are the top crypto losers over the past 24 hours:
JasmyCoin (JASMY)
Price: $0.02286
24-hour loss: 2.58 percent
Tether Gold (XAUt)
Price: $2,367.10
24-hour loss: 0.72 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin fell to $55,000 yesterday after the German government again transferred 16,309 Bitcoin from its holdings to crypto exchanges and market makers. However, it has since bounced back and is now trading at $57,000. The next resistance levels are at $57,600 and $58,200. Meanwhile, Ethereum has traded above $3,000 and is aiming for $3,110, which could indicate the beginning of a rally towards $3,270.”
CoinSwitch Markets Desk noted, “With Bitcoin trading below the critical resistance level at 58.4k USD, bears are looking to strengthen their grip even as the German government has already sold more than 50% of its originally held 50,000 BTC as per the data from Arkham Intelligence. ETH as well is just able to sustain above 3000 dollars even as the ETF trading of the world’s largest crypto is coming close.”
Rajagopal Menon, Vice President, WazirX, said, “Bitcoin is consolidating losses above $55,000 after attempting a recovery above $56,500 and $57,500. It failed to break past $58,200, forming a high at $58,129 before declining and hitting a low of $54,954. It’s now consolidating, with minor gains above the 50% Fib retracement level from $58,129 to $54,954. Bitcoin remains below $57,500 and the 100-hour SMA, with immediate resistance near $57,250.”
Shivam Thakral, CEO of BuyUcoin, said, “The crypto market witnessed a highly volatile Monday after German government transferred over $900 million worth of assets from its bitcoin holdings as per the blockchain data. The transfer was made to crypto exchanges and a total of 8700 BTC was moved which resulted in a 3% drop in BTC prices on Monday afternoon. However, Bitcoin rebounded to $57,200 level but this support level looks very weak. The increased supply of BTC in the market is good news as more BTCs are available on exchanges to buying and trading activities. Ethereum on the other hand recovered by over 5% and is changing hands at $3070 level.”
Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “Germany continues to have a significant influence on the cryptocurrency market, holding 39,826 BTC worth $2.2 billion, which is about 9% of the $25.3 billion daily bitcoin trading volume. The stash, obtained from movie piracy site Movie2k.to, is gradually being liquidated, impacting BTC prices. Recent sales have seen a nearly 20% drop, with the spot price reaching $55,490. There has been criticism of Germany's strategy of selling BTC for fiat currency, which is seen as potentially harmful given the scarcity of Bitcoin versus unlimited fiat printing. Meanwhile, Bitcoin miners are experiencing a "capitulation," which may signal a market bottom, as they adjust to reduced profits amid market turmoil.”
CoinDCX Research Team told ABP Live, “Despite selling pressure from the German government moving BTC to exchanges, the crypto market has shown resilience with positive returns in the last 24 hours. Technically, BTC needs to reclaim $58,500 for a bullish sign, while ETH needs to stay above $2,875. ETH/BTC bounced from key support, helping some alts like TIA and ETHFI gain over 20% in the last 24 hours.”
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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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