Cryptocurrency Price Today: Israel-Hamas War Paints The Market Red, BTC Remains Under $28,000
Cryptocurrency price on October 9 quick take: The global market cap stood at $1.09 trillion.
Bitcoin (BTC), the world’s oldest and most valued cryptocurrency, failed to rise above the $28,000 mark over the weekend as popular altcoins — including the likes of Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), and Litecoin (LTC) — landed in the reds across the board. The stymying of price growth is largely caused due to the ongoing Israel-Hamas conflict. However, the CoinMarketCap Market Fear & Greed Index stands at 45, which means investors are choosing to remain neutral for the time being, to see how things develop before taking any drastic calls.
The global crypto market cap stood at $1.09 trillion at the time of writing, registering a 24-hour dip of 0.47 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $27,939.49, registering a 24-hour loss of 0.23 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 23.91 lakh.
Ethereum (ETH) Price Today
ETH price stood at $1,634.72, marking a 24-hour dip of 0.09 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.39 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour loss of 0.90 percent, as per CoinMarketCap data, currently priced at $0.06095. As per WazirX, Dogecoin price in India stood at Rs 5.22.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour loss of 1.13 percent. At the time of writing, it was trading at $65.08. LTC price in India stood at Rs 5,520.10.
Ripple (XRP) Price Today
XRP price stood at $0.5193, seeing a 24-hour dip of 0.61 percent. As per WazirX, Ripple price stood at Rs 44.60.
Solana (SOL) Price Today
Solana price stood at $23.27, marking a 24-hour loss of 1.04 percent. As per WazirX, SOL price in India stood at Rs 1,962.74.
Top Crypto Gainers Today (October 9)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
Lido DAO (LDO)
Price: $1.61
24-hour gain: 2.33 percent
Tether Gold (XAUt)
Price: $1,860.28
24-hour gain: 1.17 percent
MultiversX (EGLD)
Price: $24.50
24-hour gain: 0.94 percent
IOTA (IOTA)
Price: $0.1565
24-hour gain: 0.90 percent
Algorand (ALGO)
Price: $0.1011
24-hour gain: 0.89 percent
Top Crypto Losers Today (October 9)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
Avalanche (AVAX)
Price: $9.97
24-hour loss: 5.18 percent
Zcash (ZEC)
Price: $26.18
24-hour loss: 3.41 percent
dYdX (DYDX)
Price: $2.03
24-hour loss: 2.88 percent
Bitcoin SV (BSV)
Price: $34.40
24-hour loss: 2.87 percent
Stacks (STX)
Price: $0.5095
24-hour loss: 2.58 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “The weekend saw Bitcoin trading in the vicinity of the $28,000 mark. This price movement coincided with the release of US Non-farm payroll data, which revealed the addition of 336,000 jobs in September, exceeding economist predictions of 170,000. This positive NFP report reflects an uptick in economic health and a resilient job market. Should Bitcoin sustain its position comfortably above its current level, it could potentially breach the $28,350 level. If not, there is support at the $27,800 level. Meanwhile, Ethereum has been trading above the $1620 level.”
Parth Chaturvedi, Investments Lead, CoinSwitch Ventures, said, “The crypto market has been on a slight but gradual decline in the last 24 hours and over the weekend. As per CoinGecko, the global crypto M.Cap is down -0.2 percent since yesterday, but continues to be above $1.12 trillion. The crypto fear and greed index maintained its position in the neutral zone around the score of 50/100; no change in the last 24 hours. Trading close to $28,000, BTC (-0.2 percent) has been maintaining firm support at $27,000. Even though there has been a BTC sell-off from short-term holders, the support levels come in as long-term holders are buying more. In fact, last week, the supply held by the long-term buyers stood at 15.6 million BTCs, as opposed to the short-term holder supply of 3.8 million BTCs — the first time since November 2015. The market believes in a bull trend for BTC if consolidation continues, and BTC crosses the $28,000 resistance level.”
Rajagopal Menon, Vice President, WazirX, said, “Bitcoin appears poised to challenge its $28,000 resistance level, and the prevailing sentiment suggests it may succeed. This marks a notable shift from the fear that dominated the market for most of the previous month. Additionally, Bitcoin's bollinger bands indicate that the market is currently in a consolidation phase.”
Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “Bitcoin price currently is $27,950 . It is essential for traders and investors to closely monitor Bitcoin price dynamics. Bitcoin is currently facing a key resistance at $28,350 and a break of this level could pave the way for further gains at $29,400 and $30,785. Conversely, if the Bears take control, the support zones at $26,630, $25,260 and $24,556 come into play. Examining technical indicators, the Relative Strength Index (RSI) is hovering at 48, suggesting a somewhat neutral sentiment, albeit slightly bearish below 50. The 50-day exponential moving average (EMA) at $27,500 is serving as strong short-term bullish support.”
Shivam Thakral, CEO of BuyUcoin, said, “The overall crypto market has been restricted under $1.10 trillion for the past few weeks due to the hawkish stance of the US fed and other macroeconomic factors. The latest tension between Israel and Hamas may result in further downslides across financial markets as it disturbs the peace equation involving multiple countries. Israel is an active player in Bitcoin mining and other blockchain-related activities and any disruption in the mining process may result in BTC hash rate going through the roof.”
CoinDCX Research Team told ABP Live, “Over the weekend, Bitcoin (BTC) showed resilience by holding its ground, trading just below the pivotal $28,000 level. Meanwhile, Ethereum (ETH) maintained a position above the support level of $1,612. What's particularly intriguing is that this stability coincides with a backdrop of global uncertainty, such as the ongoing Israel-Palestine conflict. In times of turbulence, crypto emerges as a beacon of opportunity for investors. They provide stability, open doors to cross-border financial transactions, and offer top-notch security, making them a compelling and secure choice for savvy investors seeking refuge in these uncertain times.”
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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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