Cryptocurrency Price Today: Bitcoin Stable At $71,000, Wormhole Becomes Top Gainer

Cryptocurrency price on June 7 quick take: The global market cap dipped to $2.63 trillion.

Bitcoin price stood at $71,222.08 on Friday. ( Image Source :Kanchanara/Unsplash )

Bitcoin (BTC), the world’s oldest and most valued cryptocurrency, managed to remain above the $71,000 mark early Wednesday, occasionally dipping down to $70,000 but regaining not before long. 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 66 (Greed) out of 100, as per CoinMarketCap data. The Stacks (STX) token emerged to be the biggest gainer, with a 24-hour jump of over 9 percent. Toncoin (TON) became the biggest loser, with a 24-hour dip of nearly 7 percent. 

The global crypto market cap stood at $2.63 trillion at the time of writing, registering a 24-hour dip of 0.15 percent.

Bitcoin (BTC) Price Today

Bitcoin price stood at $71,222.08, registering a 24-hour jump of 0.20 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 61.07 lakh.

Ethereum (ETH) Price Today

ETH price stood at $3,857.69, marking a 24-hour gain of 1.32 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 3.31 lakh.

Dogecoin (DOGE) Price Today

DOGE registered a 24-hour dip of 0.70 percent, as per CoinMarketCap data, currently priced at $0.1623. As per WazirX, Dogecoin price in India stood at Rs 13.70.

Litecoin (LTC) Price Today

Litecoin saw a 24-hour jump of 1.38 percent. At the time of writing, it was trading at $85.02. LTC price in India stood at Rs 7,151.

Ripple (XRP) Price Today

XRP price stood at $0.5255, seeing a 24-hour jump of 0.09 percent. As per WazirX, Ripple price stood at Rs 44.94.

Solana (SOL) Price Today

Solana price stood at $171.32, marking a 24-hour dip of 1.15 percent. As per WazirX, SOL price in India stood at Rs 14,506.81. 

Top Crypto Gainers Today (June 7)

As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:

Wormhole (W)

Price: $0.7077
24-hour gain: 13.03 percent

JasmyCoin (JASMY)

Price: $0.04153
24-hour gain: 9.63 percent

ORDI (ORDI)

Price: $62.14
24-hour gain: 8.98 percent

Injective (INJ)

Price: $28.38
24-hour gain: 7.06 percent

Toncoin (TON)

Price: $7.67
24-hour gain: 6.30 percent

Top Crypto Losers Today (June 7)

As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:

Bitget Token (BGB)

Price: $1.21
24-hour loss: 7.24 percent

Notcoin (NOT)

Price: $0.02119
24-hour loss: 5.73 percent

Bonk (BONK)

Price: $0.00003197
24-hour loss: 4.95 percent

Fetch.ai (FET)

Price: $2.03
24-hour loss: 4.85 percent

Kaspa (KAS)

Price: $0.1735
24-hour loss: 4.83 percent

What Crypto Exchanges Are Saying About Current Market Scenario

Mudrex co-founder and CEO Edul Patel told ABP Live, “After surpassing $71,000 on Thursday, Bitcoin is now consolidating around $70,000 as the market awaits the release of the US jobs data later today. If the jobs report today and the Consumer Price Index (CPI) data, set to be released next week, align with market expectations, it could potentially drive BTC to a new all-time high. The next resistance level is at $71,400, with support at $70,100.”

CoinSwitch Markets Desk noted, “Yesterday, Bitcoin (BTC) surged to $71,700 following the European Central Bank's (ECB) rate cut. However, the rally was short-lived, BTC quickly fell and almost dipped below $70,000 before stabilising slightly above that mark today. In the same period, Uniswap's token (UNI), Chainlink's LINK, and Near's NEAR all saw declines of 3%-5%. Semler Scientific, a medical device maker, has acquired an additional $17 million worth of Bitcoin, bringing its total holdings to $74 million. The company plans to raise $150 million to purchase more Bitcoin. This move follows Semler's previous $40 million investment in Bitcoin, which led to a 25% surge in its stock price.”

Rajagopal Menon, Vice President, WazirX, said, “Bitcoin is approaching its March record high, currently just $3,000 short, driven by a weaker dollar and expectations of Federal Reserve rate cuts. The renewed momentum in spot Bitcoin ETFs is significant. Additionally, rate cuts by the Bank of Canada and the anticipated cuts by the European Central Bank have further boosted optimism about lower global interest rates, supporting Bitcoin's recovery.”

Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “Bitcoin is at $70,900, down 1%, with a pivot point at $70,600 indicating a potential upside move. Resistance levels are at $71,800, $72,500 and $73,100, while support levels are at $70,600, $69,650 and $68,500. A bullish breakout from the symmetrical triangle at $70,600, the 50-day EMA at $69,000 and the RSI of 66 indicate buying interest. However, a double take near $71,800 calls further gains into question. Increased buying pressure could push Bitcoin to $72,500. A buy above $70,600 could target $71,800 and $72,500, while a break below $70,600 could signal a bearish trend.”

Shivam Thakral, CEO of BuyUcoin, said, “The overall crypto market cap jumped to the $2.63 trillion mark with crypto heavyweights like Bitcoin and Ethereum leading the effort. Bitcoin Crossed $71K as BTC ETFs witnessed $880 million inflows on Tuesday, which is one of the best days since March for the spot ETFs. The increased investor activity may be a result of Ethereum ETF listing approval and encouraging developments around digital assets from the ongoing U.S. presidential campaign. If the momentum continues, we may see BTC touching the $100,000 mark by the end of 2024, as predicted by the banking giant Standard Chartered.” 

CoinDCX Research Team told ABP Live, “The crypto market continued to be mixed, with BTC and ETH moving in a sideways range in lower time frames. BTC failed to clear the key resistance level at $71,400. Currently, the price action in lower time frames is mixed, while it remains bullish in higher time frames.”

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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.