Cryptocurrency Price Today (September 6): Bitcoin Continues Downward Trend, Dips Below $56,000
Cryptocurrency price on September 6 quick take: The global market cap dipped to $1.95 trillion.
Bitcoin (BTC), the world’s oldest and most valued cryptocurrency, dipped below the $56,000 mark early Friday, continuing to see a downward trend throughout the week. Other popular altcoins — including the likes of Ethereum (ETH), Dogecoin (DOGE), Solana (SOL), Ripple (XRP), and Litecoin (LTC) — landed in the reds across the board as the overall Market Fear & Greed Index stood at 30 (Fear) out of 100, as per CoinMarketCap data. The Toncoin (TON) token emerged to be the biggest gainer of the lot, with a 24-hour jump of nearly 5 percent. MultiversX (EGLD) became the biggest loser, with a 24-hour dip of over 8 percent.
The global crypto market cap stood at $1.95 trillion at the time of writing, registering a 24-hour dip of 2.58 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $55,496.65, registering a 24-hour dip of 2.98 percent, as per CoinMarketCap. According to Indian exchanges, BTC price stood at Rs 48.43 lakh.
Ethereum (ETH) Price Today
ETH price stood at $2,336.13, marking a 24-hour loss of 3.20 percent at the time of writing. Ethereum price in India stood at Rs 2.06 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour dip of 0.56 percent, as per CoinMarketCap data, currently priced at $0.09732. Dogecoin price in India stood at Rs 7.98.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour loss of 3.85 percent. At the time of writing, it was trading at $65.10. LTC price in India stood at Rs 5,325.75.
Ripple (XRP) Price Today
XRP price stood at $0.5335, seeing a 24-hour loss of 3.67 percent. Ripple price in India stood at Rs 50.18.
Solana (SOL) Price Today
Solana price stood at $128.26, marking a 24-hour dip of 3.61 percent. SOL price in India stood at Rs 11,376.60.
Top Crypto Gainers Today (September 6)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
Toncoin (TON)
Price: $4.80
24-hour gain: 4.24 percent
Helium (HNT)
Price: $8.26
24-hour gain: 1.54 percent
Notcoin (NOT)
Price: $0.007558
24-hour gain: 1.23 percent
Tether Gold (XAUt)
Price: $2,518.51
24-hour gain: 0.55 percent
UNUS SED LEO (LEO)
Price: $5.61
24-hour gain: 0.31 percent
Top Crypto Losers Today (September 6)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
MultiversX (EGLD)
Price: $24.54
24-hour loss: 8.47 percent
Bonk (BONK)
Price: $0.0000156
24-hour loss: 7.54 percent
Bittensor (TAO)
Price: $234.81
24-hour loss: 6.86 percent
Starknet (STRK)
Price: $0.3825
24-hour loss: 6.63 percent
ORDI (ORDI)
Price: $28.22
24-hour loss: 6.63 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin is currently trading around the $56,000 mark as markets await the release of the US jobs report. This report could play a key role in influencing the Federal Reserve's decision on potential rate cuts. Global equities have also seen declines, reflecting broader market caution. BTC is facing resistance at the $57,000 level, struggling to break through this critical point. A decisive move above $57,000 could pave the way for a stronger rally, potentially pushing the price higher in the coming trading sessions. Investors are watching closely for any signs that might indicate the next directional move for Bitcoin.”
Avinash Shekhar, Co-founder & CEO, Pi42, said, “The cryptocurrency market experienced a decline, with Bitcoin dipping below $57,000 and Ethereum falling below $2,400. This led to a shift in market sentiment back towards "fear." The upcoming release of US payroll data is eagerly anticipated by investors, as it could influence the Federal Reserve's decision on the size of the potential interest rate cut this month. The market's volatility reflects the uncertainty surrounding this crucial economic indicator.”
Shivam Thakral, CEO of BuyUcoin, said, “Even though the value of the global cryptocurrency market has slightly decreased to $1.99 trillion, the continuous volume of $61.51 billion indicates that people are still interested in digital assets. To promote a more stable and open cryptocurrency market, India's Financial Intelligence Unit (FIU) is considering approval of additional offshore cryptocurrency exchanges. This initiative not only enhances regulatory clarity but also encourages innovation and investment in the sector. The FIU seeks to safeguard consumers and encourage the expansion of digital assets by creating a compliance framework.”
CoinDCX Research Team told ABP Live, “The crypto market remains choppy as investors and traders await the release of the key U.S. unemployment rate data today. BTC is currently trying to push above the $56,000 support level and is moving within a range. A strong push from here could take the price to the $61,600 resistance level, but if BTC loses the $56,000 support, it could drop further. Most altcoins continue to fall and appear weak.”
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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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