Cryptocurrency Price Today: Bitcoin Dipped Below $64,000, AIOZ Becomes Top Gainer
Cryptocurrency price on May 7 quick take: The global market cap dipped to $2.34 trillion.
Bitcoin (BTC), the world’s oldest and most valued cryptocurrency, dipped below the $64,000 mark early Tuesday Other popular altcoins — including the likes of Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Solana (SOL), and Litecoin (LTC) — saw a mix of minor dips and gains across the board as the overall Market Fear & Greed Index stood at 57 (Neutral) out of 100, as per CoinMarketCap data. The AIOZ Network (AIOZ) token emerged as the biggest gainer of the lot, with a 24-hour jump of nearly 7 percent. Memecoin BONK became the biggest loser, with a 24-hour dip of over 7 percent.
The global crypto market cap stood at $2.34 trillion at the time of writing, registering a 24-hour dip of 1.25 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $63,420.68, registering a 24-hour dip of 1.05 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 55.40 lakh.
Ethereum (ETH) Price Today
ETH price stood at $3,065.82, marking a 24-hour dip of 2.51 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 2.69 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour loss of 4.19 percent, as per CoinMarketCap data, currently priced at $0.1559. As per WazirX, Dogecoin price in India stood at Rs 13.75.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour dip of 0.65 percent. At the time of writing, it was trading at $80.70. LTC price in India stood at Rs 7,000.50.
Ripple (XRP) Price Today
XRP price stood at $0.5379, seeing a 24-hour jump of 0.83 percent. As per WazirX, Ripple price stood at Rs 47.43.
Solana (SOL) Price Today
Solana price stood at $154.74, marking a 24-hour dip of 4.58 percent. As per WazirX, SOL price in India stood at Rs 13.499.08.
Top Crypto Gainers Today (May 7)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
AIOZ Network (AIOZ)
Price: $0.8121
24-hour gain: 6.95 percent
Worldcoin (WLD)
Price: $6.16
24-hour gain: 4.84 percent
Solana (SOL)
Price: $154.78
24-hour gain: 4.61 percent
Arweave (AR)
Price: $41.33
24-hour gain: 3.78 percent
Injective (INJ)
Price: $24.98
24-hour gain: 3.35 percent
Top Crypto Losers Today (May 7)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
Bonk (BONK)
Price: $0.00002507
24-hour gain: 7.02 percent
Conflux (CFX)
Price: $0.2142
24-hour gain: 6.64 percent
Optimism (OP)
Price: $2.73
24-hour gain: 6.19 percent
FLOKI (FLOKI)
Price: $0.0001795
24-hour gain: 6.19 percent
Wormhole (W)
Price: $0.6413
24-hour gain: 6.14 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin traded at the $63,000 level in the past 24 hours as US regulators send notices to Robinhood. With this Bitcoin could not bounce back to the $65,900 level. Bitcoin support is at the $62,000 level while the resistance is at the $65,000 level. We are likely to see Bitcoin trade range bound for the next few days.”
CoinSwitch Markets Desk noted, “After crossing $65.5k yesterday, BTC quickly fell back sharply to trade below $63k briefly but getting supported by the long-term trend line as money started flowing back into BTC through ETFs with all spot BTC ETFs being recording its first ever net inflow, including Grayscale, which has largely been a seller. In other major altcoin news, Blackrock’s BUIDL fund, through Securitize markets, has posted a proposal on Arbitrum governance forum. This proposal, if accepted, would mean that the world’s largest asset manager’s crypto fund will be on two chains, Ethereum and Arbitrum. This could likely be bullish for Arbitrum which is sitting at quite a low price from its recent highs.”
Rajagopal Menon, Vice President, WazirX, said, “Bitcoin surged towards $65,000 yesterday, fueled by investor enthusiasm and a rise in trading activity. However, the party was short-lived as the price encountered strong resistance and dipped back to just above $63,000. This retracement wasn't entirely unexpected, as market indicators had hinted at potential resistance around this level, especially after the recent halving event which can sometimes lead to temporary price dips. Looking ahead, there's a chance Bitcoin could experience a bearish trend in the short term. The next potential support level to watch is around $63,843.78.”
Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “Bitcoin has reached a historic milestone of over 1 billion transactions, showing its growing importance in digital payments. Bitcoin has surpassed Visa's timeline to achieve this feat in just 15 years, fueled by accelerated adoption and institutional interest. Market experts predict further growth, boosted by the introduction of spot bitcoin ETFs. Greyscale Bitcoin Trust sees a positive inflow of $63 million after 11 weeks of outflows, signalling renewed investor confidence. Despite competition from spot ETFs, GBTC remains the dominant player with $18.7 billion in assets. To regain momentum, Grayscale proposes a "mini" Bitcoin ETF with lower fees. Bitcoin price outlook remains bearish below $64,655, but could turn bullish above that level, supported by key resistance and support levels.”
Shivam Thakral, CEO of BuyUcoin, said, “As we speak, bitcoin is hovering around the $64,000 mark showing strong recovery from the sub-60k level recently. Bernstein analysts predicted that Bitcoin may touch the $150,00 mark by the end of 2025 driven by ETF and spot bitcoin demand. The favourable macroeconomic factors such as the softening of stance by the US fed may spark activity across financial markets which may lead to increased liquidity in the markets. Grayscale Bitcoin trust shares witnessed a significant jump in their value as they witnessed healthy inflow since January signalling elevated interest from institutional investors in the world’s largest digital asset by market cap.”
CoinDCX Research Team told ABP Live, “The crypto market experienced a slight decline following news of significant transfers from FTX-associated addresses and a Wells Notice issued to Robinhood by the SEC. This news sparked fear among investors. In the short term, both BTC and ETH are exhibiting bearish price action, although the higher time frame remains bullish. For BTC, reclaiming the $67,000 level is crucial, while ETH needs to surpass $3,250 to regain momentum.”
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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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