Cryptocurrency Price Today: Bitcoin Fails To Breach $20,000 Mark, Short-Term Recovery 'Unlikely'

“Without a huge amount of external money coming into the industry, a strong recovery in the short term looks unlikely,” Unocoin CEO Sathvik Vishwanath told ABP Live.

Bitcoin price stood at $19,415.54 as per CoinMarketCap data.

Source : Karolina Grabowska/Pexels

Bitcoin (BTC) dipped below the $20,000 mark for the first time in nearly a week on Thursday. The world’s oldest and most valued crypto failed to recover on July 1, seeing a 24-hour dip of 2.91 percent as per CoinMarketCap data. Alongside, most major altcoins such as Ethereum (ETH), Dogecoin (DOGE), and Ripple (XRP) also saw minor losses. On the other hand, the PAPPAY token managed to see a 24-hour gain of over 1,000 percent, along with several other lesser-known altcoins.

At the time of writing, the global crypto market cap stood at $870.93 billion as per CoinMarketCap data, registering a minor 24-hour dip of 2.29 percent.

Bitcoin (BTC) price today

As per CoinMarketCap, Bitcoin price stood at $19,415.54 at the time of writing. As per Indian exchange WazirX, BTC price stood at Rs 16.10 lakhs. Over the last 24 hours, BTC saw a dip of 2.91 percent.

Ethereum (ETH) price today

ETH price stood at $1,050.37, seeing a 24-hour loss of 3.49 percent. As per WazirX, Ethereum price in India stood at Rs 86,500.

Dogecoin (DOGE) price today

DOGE saw a 24-hour loss of 3.69 percent as per CoinMarketCap data, currently priced at $0.06465. As per WazirX, Dogecoin price in India stood at Rs 5.49.

Litecoin (LTC) price today

As per CoinMarketCap, LTC registered a minor dip of 0.03 percent over the past 24 hours. At the time of writing, it was priced at $52.95. LTC price in India stood at Rs 4,528.83.

Ripple (XRP) price today

XRP price stood at $0.3145, seeing a 24-hour dip of 3.28 percent. As per WazirX, Ripple price stood at Rs 26.44.

Solana (SOL) price today

As per CoinMarketCap, Solana price stood at $32.71, marking a minor 24-hour gain of 0.74 percent. As per WazirX, SOL price in India stood at Rs 2,885.

Top crypto gainers today (July 1)

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

PAPPAY (PAPPAY)

Price: $0.000003895
24-hour gain: 1,046.93 percent

Bitsubishi (BITSU)

Price: $4,017.27
24-hour gain: 806.21 percent

CollectCoin (CLCT)

Price: $0.03873
24-hour gain: 286.38 percent

Bee Inu (BEEINU)

Price: $0.000009478
24-hour gain: 136.63 percent

SB GROUP (SB)

Price: $0.01564
24-hour gain: 115.73 percent

Top crypto losers today (July 1)

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

HighPoint Finance (HPT)

Price: $0.000002232
24-hour loss: 99.63 percent

LunaGens (LUNG)

Price: $0.00006117
24-hour loss: 84.77 percent

Super Soccer (SPS)

Price: $0.006461
24-hour loss: 73.73 percent

Canadian Inuit Dog (CADINU)

Price: $0.000000000008893
24-hour loss: 57.13 percent

Kineko (KKO)

Price: $0.01724
24-hour loss: 57.10 percent

Commenting on the current market scenario, Sathvik Vishwanath, CEO and Co-Founder of crypto exchange Unocoin told ABP Live, “Thursday saw a steep decline in crypto prices again. Bitcoin lost as much as 7 percent while the other major alts had to lose up to 10 percent of their prices. In India, some extra trading volumes were seen given that a TDS of 1 percent will be applicable for trades in cryptos from July 1 onwards. Or else, the volumes globally were quite less and the price fall happened slowly during the entire day. News about institutions acquiring Bitcoin and crypto was not strong enough to provide some support to the falling prices and the prices are racing towards the lowest in 2022. Without a huge amount of external money coming into the industry, a strong recovery in the short term looks unlikely.”

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.