Bitcoin (BTC) and Ethereum (ETH), two of the most popular coins, failed to see major gains, dwelling within the $27,000 and $1,800 range, respectively. Other popular altcoins — including the likes of Dogecoin (DOGE), Ripple (XRP), Litecoin (LTC), and Solana (SOL) — landed in the reds across the board. Bitcoin SV (BSV), which was the biggest gainer yesterday, turned out to be the biggest loser today, with a 24-hour dip of over 13 percent. KAVA emerged to be the biggest gainer of the lot, with a 24-hour gain of over 8 percent.
The global crypto market cap stood at $1.14 trillion at the time of writing, registering a 24-hour dip of 0.59 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $27,498.91, registering a 24-hour loss of 0.69 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 24.47 lakh.
Ethereum (ETH) Price Today
ETH price stood at $1,829.99, marking a 24-hour dip of 0.73 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.65 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour loss of 0.83 percent, as per CoinMarketCap data, currently priced at $0.07261. As per WazirX, Dogecoin price in India stood at Rs 6.60.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour gain of 0.91 percent. At the time of writing, it was trading at $80.43. LTC price in India stood at Rs 7,000.03.
Ripple (XRP) Price Today
XRP price stood at $0.4291, seeing a 24-hour dip of 0.13 percent. As per WazirX, Ripple price stood at Rs 37.80.
Solana (SOL) Price Today
Solana price stood at $20.61, marking a 24-hour loss of 0.48 percent. As per WazirX, SOL price in India stood at Rs 1,840.
Top Crypto Gainers Today (May 11)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
Kava (KAVA)
Price: $0.8947
24-hour loss: 8.17 percent
WOO Network (WOO)
Price: $0.2295
24-hour loss: 4.46 percent
Floki (FLOKI)
Price: $0.00003616
24-hour loss: 3.22 percent
Uniswap (UNI)
Price: $5.13
24-hour loss: 3.10 percent
The Graph (GRT)
Price: $0.1161
24-hour loss: 2.79 percent
Top Crypto Losers Today (May 11)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
Bitcoin SV (BSV)
Price: $36.53
24-hour loss: 13.15 percent
Pepe (PEPE)
Price: $0.000001836
24-hour loss: 10.60 percent
Bitcoin Cash (BCH)
Price: $114
24-hour loss: 5.30 percent
Sui (SUI)
Price: $1.14
24-hour loss: 4.70 percent
Terra Classic (LUNC)
Price: $0.00009092
24-hour loss: 3.37 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin's price experienced a brief surge above the $28,200 mark following the release of the US CPI report, which indicated a slowdown in annual inflation from 5 percent in March to 4.9 percent in April. However, it was soon rejected and dropped below the $27,000 level for the first time in two weeks with increasing selling pressure. The current support level stands at $27,200, with resistance at $28,000. Ethereum, on the other hand, has experienced a 1 percent decline and is currently trading at the $1,825 level.”
WazirX Vice President Rajagopal Menon said, “Bitcoin attempted to recover its prices in the last 24 hours as moving averages for 10-day EMA and SMA indicate a ‘Sell’ sentiment. The Tron token showed price surges. The crypto derivatives market share witnessed major increases.”
Sathvik Vishwanath, CEO and co-founder of Unocoin said, “The price of Bitcoin is $27,500 with a trading volume of $19.2 billion. It holds the top spot with a market capitalization of $540 billion. However, it is trying to break the $27,500 resistance level. The current trading range is $27,250 to $27,500. A break of the resistance can lead to $28,050 and even $28,650. Failure to do so may result in shorting with targets of $27,450 and $27,150. Positive developments in the market are expected to support the upward momentum of Bitcoin.”
Shivam Thakral, the CEO of BuyUCoin, said, “The crypto market remained almost flat as encouraging CPI data showed that inflation is cooling down and we can expect relaxation of monetary policies in the future. Historically, BTC volatility increases around the inflation data release and we can see some fluctuations later today or during the week. The crypto market momentum may gather pace of liquidity and gets some boost.”
CoinDCX Research Team told ABP Live, “Bitcoin's price has remained relatively stagnant around $27,000, as investors eagerly anticipate the latest US inflation report for guidance on the Federal Reserve's future monetary policy. Despite previous regulatory roadblocks concerning crypto-related ETFs, Grayscale is expanding its ETF business, announcing three new crypto funds.The development highlights the growing interest of institutional investors in the crypto industry, despite ongoing regulatory uncertainty.”
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.