Cryptocurrency Price Today: Bitcoin Remains Below $28,000, Ripple Becomes Biggest Gainer

Cryptocurrency price on October 4 quick take: The global market cap dipped to $1.09 trillion.

Bitcoin price stood at $27,421.54 on Wednesday.

Source : Eivind Pedersen/Pixabay

Bitcoin (BTC), the world’s oldest and most valued cryptocurrency, remained below the $28,000 mark early Wednesday. Popular altcoins — including the likes of Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), and Litecoin (LTC) — landed in the reds across the board, as the overall market fear and greed index stood at 44 (neutral) as per CoinMarketCap. Bitcoin SV (BSV), which was the biggest gainer yesterday, went on to become the biggest loser today, with a 24-hour dip of nearly 14 percent. Ripple (XRP) became the biggest gainer, with a 24-hour gain of over 4 percent. 

The global crypto market cap stood at $1.08 trillion at the time of writing, registering a 24-hour loss of 0.90 percent.

Bitcoin (BTC) Price Today

Bitcoin price stood at $27,421.54, registering a 24-hour dip of 0.67 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 23 lakh.

Ethereum (ETH) Price Today

ETH price stood at $1,641.49, marking a 24-hour loss of 1.51 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.40 lakh.

Dogecoin (DOGE) Price Today

DOGE registered a 24-hour dip of 2.14 percent, as per CoinMarketCap data, currently priced at $0.06085. As per WazirX, Dogecoin price in India stood at Rs 5.23.

Litecoin (LTC) Price Today

Litecoin saw a 24-hour loss of 3 percent. At the time of writing, it was trading at $64.27. LTC price in India stood at Rs 5,579.42.

Ripple (XRP) Price Today

XRP price stood at $0.5352, seeing a 24-hour gain of 4.18 percent. As per WazirX, Ripple price stood at Rs 45.89.

Solana (SOL) Price Today

Solana price stood at $23.14, marking a 24-hour loss of 2.16 percent. As per WazirX, SOL price in India stood at Rs 1,960.13. 

Top Crypto Gainers Today (October 4)

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

Ripple (XRP)

Price: $0.5361
24-hour gain: 4.36 percent

Stellar (XLM)

Price: $0.1147
24-hour gain: 2.53 percent

UNUS SED LEO (LEO)

Price: $3.80
24-hour gain: 2.19 percent

Gala (GALA)

Price: $0.01526
24-hour gain: 1.68 percent

Tron (TRX)

Price: $0.08911
24-hour gain: 1.31 percent

Top Crypto Losers Today (October 4)

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

Bitcoin SV (BSV)

Price: $36.50
24-hour loss: 13.18 percent

eCash (XEC)

Price: $0.00002461
24-hour loss: 11.22 percent

Bitcoin Cash (BCH)

Price: $228.06
24-hour loss: 8.97 percent

Aave (AAVE)

Price: $64.22
24-hour loss: 7.92 percent

Stacks (STX)

Price: $0.4827
24-hour loss: 7.26 percent

What Crypto Exchanges Are Saying About Current Market Scenario

Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin has been trading above the $27,300 level. This price movement could be because of traders taking profits following the recent gains and volatility in traditional financial markets. Despite Bitcoin's current price being 59.59 percent below its all-time high, it has exhibited a remarkable year-to-date performance increase of 65.54 percent. Meanwhile, Ethereum continues to hover around the $1,650 mark. On another note, the price of Ripple has surged by more than 4.5 percent following its attainment of a major payment institution license from the Monetary Authority of Singapore, enabling the provision of digital payment token services in the region.”

Shubham Hudda, Senior Manager, CoinSwitch Markets Desk, said, “After getting rejected at $28,600 the day before yesterday, Bitcoin (BTC, -0.7 percent) continued to see downward pressure in the last 24 hours. However, $2,100 is hanging on to be a good support for BTC. It is likely to show range-bound performance for the next few days as the focus shifts to altcoins. The most important altcoin news since yesterday is that of XRP (+4.2 percent) in the famous SEC vs. XRP case to determine whether XRP is a security. In the latest development, the judge has rejected SEC’s attempt to file an interlocutory appeal against the judgment the court had given in July. This seems to have contributed positively to its price action.”

Rajagopal Menon, Vice President, WazirX, said, “The US bond yields seem to be turning the market predictions for Fed’s interest rate hike around as it hits an all-time high in 16 years. While Bitcoin trading on exchanges is slowly taking off again, Ethereum continues to bank on ETF approvals. Both tokens are on a path of recovery. On the other hand, the FTX trial seems to be stirring uncertainty in the market as investors await a verdict.”

Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “Bitcoin's 4-hour chart analysis reveals key price levels: a pivot at $27,347, resistance at $28,706, $29,417 and $30,275, while immediate support rests at $26,636, complemented by levels at $26,000 and $25,325. Notably, the 50-day exponential moving average at $27,000 signals an uptrend as Bitcoin is currently trading above it. The symmetrical triangle pattern seen around the $27,350 mark suggests a potential breakout, historically associated with the onset of bullish momentum, suggesting further upside. In summary, Bitcoin's trajectory appears to be strongly bullish, enticing investors to consider buying above $27,500 to target $28,800 or $29,300, but caution is in order if it breaks above $28,300, which could trigger a selling trend. In the near term, Bitcoin is looking to challenge the $28,800 resistance with the potential to reach $29,300 if market conditions remain favourable.”

Shivam Thakral, CEO of BuyUcoin, said, “The crypto market remained flat over the past 24 hours with BTC and ETH showing marginal fluctuation in their prices. The crypto market is witnessing some highly positive developments like the launch of futures-based ether exchange-traded funds (ETFs) and the launch of UAE Dirham-based stablecoin which will form a strong foundation to drive mass adoption of digital asset-based products and services. At the time of writing BTC and Ether were comfortably placed at $27,458.87 and $1,645.80, respectively.” 

CoinDCX Research Team told ABP Live, “BTC and Ethereum prices have experienced a slight decrease in the past 24 hours. This dip is attributed to rising U.S. bond yields and overbought signals, which have put pressure on Bitcoin. On October 3, the US 10-year Treasury note yield surged to 4.75 percent, marking its highest level in sixteen years. This increase was prompted by Federal Reserve officials' statements, emphasizing that interest rates are not expected to decline in 2023 and 2024.”

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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.