Cryptocurrency Price Today (November 8): Bitcoin Remains Stable At $75,000, NEIRO Becomes Top Gainer
Cryptocurrency price on November 8 quick take: The global market cap dipped to $2.48 trillion.
Bitcoin (BTC), the world’s oldest and most valued cryptocurrency, managed to remain stable within the $75,000 range early Friday morning. Other popular altcoins — including the likes of Ethereum (ETH), Solana (SOL), Ripple (XRP), and Litecoin (LTC) — largely landed in the greens across the board as the overall Market Fear & Greed Index stood at 72 (Greed) out of 100, as per CoinMarketCap data. NEIRO became the biggest gainer for the second consecutive day, with a 24-hour jump of over 22 percent. Lido DAO (LDO) became the biggest loser after a mega rally, with a 24-hour loss of nearly 10 percent.
The global crypto market cap stood at $2.48 trillion at the time of writing, registering a 24-hour loss of 1.39 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $75,909.25, registering a 24-hour gain of 1.61 percent, as per CoinMarketCap. According to Indian exchanges, BTC price stood at Rs 57.92 lakh.
Ethereum (ETH) Price Today
ETH price stood at $2,905.09, marking a 24-hour gain of 2.38 percent at the time of writing. Ethereum price in India stood at Rs 2.07 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour jump of 0.65 percent, as per CoinMarketCap data, currently priced at $0.1946. Dogecoin price in India stood at Rs 12.66.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour gain of 0.66 percent. At the time of writing, it was trading at $71.29. LTC price in India stood at Rs 5,943.60.
Ripple (XRP) Price Today
XRP price stood at $0.5504, seeing a 24-hour loss of 1.26 percent. Ripple price in India stood at Rs 42.48.
Solana (SOL) Price Today
Solana price stood at $198.03, marking a 24-hour gain of 4.94 percent. SOL price in India stood at Rs 13,625.79.
Top Crypto Gainers Today (November 8)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
Neiro (NEIRO)
Price: $0.002421
24-hour gain: 22.20 percent
Cardano (ADA)
Price: $0.4209
24-hour gain: 13.32 percent
Goatseus Maximum (GOAT)
Price: $0.8458
24-hour gain: 9.83 percent
Pyth Network (PYTH)
Price: $0.4096
24-hour gain: 7.43 percent
Mantle (MNT)
Price: $0.6598
24-hour gain: 7 percent
Top Crypto Losers Today (November 8)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
Lido DAO (LDO)
Price: $1.26
24-hour loss: 9.39 percent
Kaspa (KAS)
Price: $0.1123
24-hour loss: 6.22 percent
ApeCoin (APE)
Price: $1.03
24-hour loss: 5.02 percent
Mog Coin (MOG)
Price: $0.000002111
24-hour loss: 5.01 percent
Bittensor (TAO)
Price: $500.13
24-hour loss: 4.99 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin’s post-election rally gained further momentum, reaching a new all-time high of $76,940 following a 25 basis point cut in the Fed's benchmark interest rate amid easing inflation and steady employment figures. Currently trading at $75,800, the Fed’s rate reduction, alongside continued inflows into Bitcoin ETFs and high trading volumes, has strengthened BTC’s upward trajectory. Additionally, Bitcoin becoming the 9th largest global asset has boosted positive market sentiment. BTC’s resistance now stands at $77,000 and the support remains at the $74,600 mark.”
CoinSwitch Markets Desk noted, “BTC formed another all time high at 76.8k USD as bulls continue to dominate the crypto market owing to the pro crypto expectation from the upcoming regime change in the United States. World’s second largest crypto by market cap, ETH, too showed some strength as it hit its highest price in more than three months. 3000 USD could be a major resistance for Ethereum to cross post which 4000 USD will be the next target for bulls. Solana crossed the 200 Usd mark as well briefly first time after April 2024, which is preceded by its strong on-chain activity in recent months. Solana has been the primary blockchain to trade memecoins recently.”
Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “The price of Bitcoin is on the verge of a major bull run, according to crypto analyst Rekt Capital. After nearly eight months of "re-accumulation" after the March peak, BTC may soon enter a "parabolic rise" phase. Rekt Capital suggests that a weekly close above $71,500 could confirm this breakout and end Bitcoin's extended period of consolidation that has lasted more than 200 days since the halving. Compared to past cycles, Bitcoin's current growth has been accelerated, indicating a potentially longer bull market ahead. BTC/USD traded around $75,200 on November 7, showing strong momentum. The influx of $9.3 billion in ERC-20 stablecoins into exchanges since the recent US presidential election further suggests a strong bull run in the near future.”
Shivam Thakral, CEO of BuyUcoin, said, “In the last 24 hours, the Federal Reserve announced a 25 basis point reduction in U.S. funding rates, marking its second consecutive cut this year. This decision, which lowers the federal funds rate from 4.50% to 4.75%, aims to support economic growth amid easing inflation pressures following the recent elections.”
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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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