Cryptocurrency Price Today: Bitcoin Dips Below $28,000 As Top Coins See Bloodbath
Cryptocurrency price on May 9 quick take: The global market cap dipped to $1.14 trillion.
Bitcoin (BTC), the oldest and most valued crypto in the world, dipped below the $28,000 mark late Monday as the overall market continues to see a decline in the global cap. Other popular altcoins — including the likes of Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Litecoin (LTC), and Solana (SOL) — landed in the reds across the board. KAVA emerged to be the top gainer, with a 24-hour jump of nearly 9 percent. Memecoin PEPE, which recently got listed on Binance, turned out to be the biggest loser of the lot, with a 24-hour dip of over 25 percent.
The global crypto market cap stood at $1.14 trillion at the time of writing, registering a 24-hour dip of 1.89 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $27,656.35, registering a 24-hour loss of 2.03 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 $1,845.81, marking a 24-hour dip of 0.98 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 3.29 percent, as per CoinMarketCap data, currently priced at $0.07275. As per WazirX, Dogecoin price in India stood at Rs 6.47.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour dip of 4.88 percent. At the time of writing, it was trading at $78.35. LTC price in India stood at Rs 6,821.09.
Ripple (XRP) Price Today
XRP price stood at $0.4251, seeing a 24-hour loss of 2.82 percent. As per WazirX, Ripple price stood at Rs 37.98.
Solana (SOL) Price Today
Solana price stood at $20.67, marking a 24-hour dip of 3.25 percent. As per WazirX, SOL price in India stood at Rs 1,832.20.
Top Crypto Gainers Today (May 9)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
Kava (KAVA)
Price: $0.7475
24-hour loss: 8.75 percent
Lido DAO (LDO)
Price: $1.81
24-hour loss: 4.49 percent
OKB (OKB)
Price: $45.71
24-hour loss: 1.66 percent
Flare (FLR)
Price: $0.02852
24-hour loss: 1.60 percent
BitTorrent(New) (BTT)
Price: $0.000000604
24-hour loss: 0.93 percent
Top Crypto Losers Today (May 9)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
Pepe (PEPE)
Price: $0.000001887
24-hour loss: 25.16 percent
WOO Network (WOO)
Price: $0.2329
24-hour loss: 12.86 percent
Floki (FLOKI)
Price: $0.00003424
24-hour loss: 12.05 percent
Conflux (CFX)
Price: $0.2477
24-hour loss: 11.13 percent
Render Token (RNDR)
Price: $1.83
24-hour loss: 10.79 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “In the past 24 hours, Bitcoin's price has seen a decline below the crucial $28,000 pivot level, which can be attributed to the growing interest around BRC-20 tokens. This bearish momentum might continue if BTC is unable to surpass the resistance level of $28,150. As a result, it's approaching the $27,200 support, which could be a crucial level for Bitcoin in the near future. On the other hand, Ethereum has traded flat at the $1,800 level.”
WazirX Vice President Rajagopal Menon said, “Bitcoin and Ethereum prices continue to decline following the previous day’s pattern. XRP token price falls further amidst market uncertainty. However, Cardano witnessed an increase in on-chain activities despite low prices.”
Sathvik Vishwanath, CEO and co-founder of Unocoin said, “The price of Bitcoin is currently trading around $27,600 and it may drop to around $26,900 or rise to $29,709. Shiba Inu SHIB/USD falls more than 5 percent below $0.000009, erases gains and faces the 'death cross'; an expected test of last December's lows. ETH is trading around $1,842, BNB is trading around $313.”
Shivam Thakral, the CEO of BuyUCoin, said, “The crypto market witnessed new weekly lows as Bitcoin slipped below the $28,000 market on Monday wiping $60 billion from the crypto market. Bitcoin's decline pulled down other altcoins as well with ETH, XRP, SOL, and DOT witnessing a similar downward trend. The latest developments at Binance over the weekend may have spooked investors resulting in the latest dip in prices. The market is expected to remain choppy this week owing to the fluid macroeconomic factors.”
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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