(Source: ECI/ABP News/ABP Majha)
Cryptocurrency Price Today: Bitcoin Climbs Above $71,000, FLOKI Becomes Top Gainer
Cryptocurrency price on June 4 quick take: The global market cap rose to $2.56 trillion.
Bitcoin (BTC), the world’s oldest and most valued cryptocurrency, managed to rise above the $71,000 mark early Wednesday. 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 65 (Greed) out of 100, as per CoinMarketCap data. Memecoin FLOKI emerged to be the biggest gainer, with a 24-hour jump of nearly 24 percent. Wormhole (W) became the biggest loser, with a 24-hour dip of nearly 8 percent.
The global crypto market cap stood at $2.63 trillion at the time of writing, registering a 24-hour gain of 2.70 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $71,003.22, registering a 24-hour jump of 3 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 61.18 lakh.
Ethereum (ETH) Price Today
ETH price stood at $3,789.52, marking a 24-hour gain of 0.93 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 3.27 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour gain of 3.27 percent, as per CoinMarketCap data, currently priced at $0.1625. As per WazirX, Dogecoin price in India stood at Rs 13.71.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour jump of 2.32 percent. At the time of writing, it was trading at $83.82. LTC price in India stood at Rs 7,126.77.
Ripple (XRP) Price Today
XRP price stood at $0.525, seeing a 24-hour jump of 1.08 percent. As per WazirX, Ripple price stood at Rs 45.50.
Solana (SOL) Price Today
Solana price stood at $174.02, marking a 24-hour gain of 5.44 percent. As per WazirX, SOL price in India stood at Rs 14,302.01.
Top Crypto Gainers Today (June 4)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
FLOKI (FLOKI)
Price: $0.0003267
24-hour gain: 23.60 percent
Uniswap (UNI)
Price: $11.21
24-hour gain: 17.84 percent
ORDI (ORDI)
Price: $55.17
24-hour gain: 16.15 percent
Stacks (STX)
Price: $2.23
24-hour gain: 13.30 percent
Binance (BNB)
Price: $704.53
24-hour gain: 11.49 percent
Top Crypto Losers Today (June 4)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
Wormhole (W)
Price: $0.6388
24-hour loss: 7.74 percent
Notcoin (NOT)
Price: $0.02264
24-hour loss: 6.59 percent
Ethena (ENA)
Price: $0.9599
24-hour loss: 2.99 percent
Flare (FLR)
Price: $0.02846
24-hour loss: 1.72 percent
Ronin (RON)
Price: $3.15
24-hour loss: 4.10 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin hovered above the $70,000 with inflows into Bitcoin spot ETFs. Over the past 30 days, it has consistently held its key support level of $60,000, a crucial benchmark for traders. Showing positive momentum, Bitcoin may continue to rise. The next resistance level is at $71,200, with support at $69,400. Investors and traders are also eagerly anticipating the release of US jobs data on Friday.”
CoinSwitch Markets Desk noted, “With BTC soaring towards the all-time highs with the market sentiment being as bullish as it could have been with Ether ETF coming out soon, the Bitcoin ETF has now had 15 consecutive days of net inflows with Blackrock’s iBit now holding more than 20 billion dollars worth of assets under management for the first time, out of which around 2.4 billion dollars coming in the last month, making it the third largest inflow in the entire ETF market.”
Rajagopal Menon, Vice President, WazirX, said, “Bitcoin indicates a strong buy sentiment as it was able to cross its latest resistances and find new support levels. Bitcoin briefly hit $71,040 before pulling back, a key price level that traders are watching as it approaches its all-time high of $73,679. US spot Bitcoin ETFs too experienced their second-largest net inflow totaling $887 million. Fidelity Wise, BlackRock and ARK 21 shares led the pack. Besides these factors, the buzz around ETFs extending beyond USA to Hong Kong, Australia also generated an optimistic buzz in the market.”
Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “During the US session, Bitcoin came close to $71,000, but failed to sustain it and closed at $70,250. The recent Job Openings and Labor Turnover Survey (JOLTS) showed a decline in jobs, indicating a cooling labor market, which may drive investors to Bitcoin. Bitcoin broke out of a symmetrical triangle pattern at $69,000, indicating a bullish trend. The pivot point is at $68,450, with immediate resistance at $71,200. The RSI at 66.95 indicates overbought conditions, indicating a potential near-term downside. Key levels to watch are the pivot point at $68,450 and resistance at $71,200.”
Shivam Thakral, CEO of BuyUcoin, said, “The Bitcoin price continued to head north as it breached the psychological barrier of $70,000 in early trade. Ethereum, which follows the BTC trail also witnessed a marginal jump in its value and surpassed the $3,800 mark. The spot ETFs have added $2.4 billion in assets over the past month, according to data from Bloomberg Intelligence. The strong demand from institutional investors is driving the Bitcoin prices currently and positive macroeconomic factors will help the crypto market to sustain the momentum in the coming weeks.”
CoinDCX Research Team told ABP Live, “BTC now needs to clear its ATH level at around $73,500 to break the range and form a new ATH. Funding rates are still neutral, which is positive. Technically, the price action looks bullish. The only concern is that on March 12, when ETF inflows peaked, BTC formed a local top. However, the chances of a local top forming now seem unlikely as other indicators are bullish.”
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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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