Cryptocurrency Price Today: Bitcoin, Ethereum, Other Top Coins Land In Reds

Cryptocurrency price on October 11 quick take: The global market cap dipped to $1.05 trillion.

Bitcoin price stood at $27,030.20 on Wednesday.

Bitcoin (BTC), the world’s oldest and most valued cryptocurrency, failed to rise above the $28,000 mark early Wednesday as popular altcoins — including the likes of Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), and Litecoin (LTC) — registered losses across the board. It appears that investors are remaining cautious as the Israel-Hamas violence escalates on an unprecedented scale. Tezos (XTZ), which was the biggest gainer yesterday, emerged to be the biggest loser today, with a 24-hour dip of nearly 7 percent. Render (RNDR) became the biggest gainer, with a 24-hour jump of over 3 percent.

The global crypto market cap stood at $1.05 trillion at the time of writing, registering a 24-hour dip of 1.64 percent.

Bitcoin (BTC) Price Today

Bitcoin price stood at $27,030.20, registering a 24-hour loss of 2.21 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 23.66 lakh.

Ethereum (ETH) Price Today

ETH price stood at $1,558.27, marking a 24-hour dip of 1.72 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.37 lakh.

Dogecoin (DOGE) Price Today

DOGE registered a 24-hour loss of 0.18 percent, as per CoinMarketCap data, currently priced at $0.05889. As per WazirX, Dogecoin price in India stood at Rs 5.14.

Litecoin (LTC) Price Today

Litecoin saw a 24-hour loss of 0.67 percent. At the time of writing, it was trading at $62.89. LTC price in India stood at Rs 5,366.54.

Ripple (XRP) Price Today

XRP price stood at $0.4912, seeing a 24-hour dip of 1.91 percent. As per WazirX, Ripple price stood at Rs 42.57.

Solana (SOL) Price Today

Solana price stood at $22.06, marking a 24-hour loss of 0.53 percent. As per WazirX, SOL price in India stood at Rs 1,910.03. 

Top Crypto Gainers Today (October 11)

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

Render (RNDR)

Price: $1.80
24-hour gain: 3.43 percent

Terra Classic (LUNC)

Price: $0.00005709
24-hour gain: 1.49 percent

UNUS SED LEO (LEO)

Price: $3.71
24-hour gain: 1.40 percent

OKB (OKB)

Price: $43.03
24-hour gain: 1.32 percent

THORChain (RUNE)

Price: $1.66
24-hour gain: 0.99 percent

Top Crypto Losers Today (October 11)

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

Tezos (XTZ)

Price: $0.6758
24-hour loss: 6.59 percent

dYdX (DYDX)

Price: $1.89
24-hour loss: 5.92 percent

Curve DAO Token (CRV)

Price: $0.4283
24-hour loss: 4.76 percent

IOTA (IOTA)

Price: $0.1427
24-hour loss: 4.46 percent

Bitcoin Cash (BCH)

Price: $210.98
24-hour loss: 4 percent

What Crypto Exchanges Are Saying About Current Market Scenario

Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin's price has been hovering around the $27,100 mark, coinciding with a minor uptick in US Equity markets. With geopolitical tensions on the rise, investors are opting for a cautious approach. Bitcoin now faces the challenge of breaking through the $27,300 resistance level, or it might settle for support around $27,000. In a noteworthy development, a Bitcoin developer has unveiled an innovative proposal for implementing off-chain smart contracts on the Bitcoin network. This idea is outlined in the white paper released on October 9, titled ‘BitVM: Compute Anything on Bitcoin,’ authored by Robin Linus, the project lead at ZeroSync. BitVM promises to enable Bitcoin to handle smart contracts similar to Ethereum without requiring changes to Bitcoin's consensus rules.”

Shubham Hudda, Senior Manager, CoinSwitch Markets Desk, said, “Bitcoin traded sideways for another day before we saw a decline in BTC (-1.8 percent), in the past 24 hours. The volumes on every major crypto exchange have also been on the decline, with no major movement ever since the big move in March 2023. The major near-term liquidity zones in BTC remain around the $26.9k mark and $28,900 mark. Analysts still predict a move to $25k and or even $20k before BTC starts moving towards a new high.”

Rajagopal Menon, Vice President, WazirX, said, “The markets in Asia weren’t off to a great start as Bitcoin’s three-month high dominance, and its subsequent support from investors led to an overall decline in sentiment. The geopolitical uncertainty in the Middle East has started showing its effects on the Crypto market as well. While there has been a slight increase in trading volumes, the market cap has declined by almost 2 percent over the past day. However, following the pattern of the last couple of days of positive price movement, the market is expected to bounce back after a few days of uncertainty.”

Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “Bitcoin is currently trading at $27,140, ​​while Ethereum is priced at $1,558. This comes on the back of the Crypto Fear and Greed Index steady at 50/100, where bullish experts are bullish on Bitcoin with a $29,000 price target, but other cryptocurrencies are experiencing declines. The conflict between Israel and Hamas is having a more significant impact on the market than expected, with potential global economic impacts, and ongoing geopolitical instability is expected to maintain uncertain market conditions. Technical analysis recommends keeping a close eye on the major $27,760 level for potential trading opportunities, with Bitcoin trending bearish when broken and bullish when held.”

Shivam Thakral, CEO of BuyUcoin, said, “Bitcoin slipped by 2 percent in the last 24 hours and is trading just above the $27,000 mark. It is important to note that BTC dominance across crypto assets touched 51 percent (as per trading view data) which shows the resilient nature of the world’s largest digital asset. The overall market is expected to remain choppy in the coming weeks due to geopolitical uncertainty and other macroeconomic factors.” 

CoinDCX Research Team told ABP Live, “Both BTC and ETH have experienced a decline of over 1.5 percent in the past 24 hours, while Bitcoin's dominance in the market continues to rise. This dip may be due to ongoing geopolitical uncertainty, the Ethereum Foundation's sale of 1,700 ETH, and heightened government oversight, such as the UK's Financial Conduct Authority (FCA) issuing 146 alerts within the first 24 hours of a new crypto marketing regime. The FCA also added several crypto firms to its warning list, collectively contributing to market uncertainty and a bearish sentiment.”

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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.