Cryptocurrency Price Today: Bitcoin Dips Below $20,000, Casper Becomes Top Gainer
Cryptocurrency price on October 7 quick take: The global crypto market cap stood at $972.75 billion on Thursday morning.
Bitcoin (BTC), the world’s oldest and most valued cryptocurrency, dipped below the $20,000 mark early Friday morning, losing the bull run it saw in the past few days. Ethereum (ETH), on the other hand, appears to remain stable within the 1,300 range. Overall, most popular altcoins, including the likes of Dogecoin (DOGE), Solana (SOL), and Ripple (XRP) found themselves in the reds. Among lesser-known altcoins, the Casper (CSPR) token emerged as the biggest gainer, with a jump of over 10 percent in the last 24 hours.
At the time of writing, the global crypto market cap stood at $958.32 billion, marking a 1.51 percent dip in the last 24 hours, as per CoinMarketCap data.
Bitcoin (BTC) price today
Bitcoin price stood at $19,997.90, seeing a 24-hour dip of 1.95 percent, as per CoinMarketCap. As per Indian exchange WazirX, BTC price stood at Rs 16.75 lakhs.
Ethereum (ETH) price today
ETH price stood at $1,357.89, marking a 24-hour loss of 1.46 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.15 lakhs.
Dogecoin (DOGE) price today
DOGE registered a 24-hour dip of 3.78 percent as per CoinMarketCap data, currently priced at $0.06367. As per WazirX, Dogecoin price in India stood at Rs 5.23.
Litecoin (LTC) price today
Litecoin saw a 24-hour dip of 2.06 percent. At the time of writing, it was priced at $53.67. LTC price in India stood at Rs 4,501.16.
Ripple (XRP) price today
XRP price stood at $0.489, seeing a 24-hour loss of 1.76 percent. As per WazirX, Ripple price stood at Rs 41.50.
Solana (SOL) price today
Solana price stood at $33.67, marking a 24-hour dip of 2.11 percent. As per WazirX, SOL price in India stood at Rs 2,765.
Top crypto gainers today (October 7)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
Casper (CSPR)
Price: $0.03536
24-hour gain: 10.80 percent
XDC Network (XDC)
Price: $0.03157
24-hour gain: 4.56 percent
Ravencoin (RVN)
Price: $0.0361
24-hour gain: 1.84 percent
Uniswap (UNI)
Price: $7.03
24-hour gain: 1.55 percent
STEPN (GMT)
Price: $0.6412
24-hour gain: 1.28 percent
Top crypto losers today (October 7)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
Helium (HNT)
Price: $5.05
24-hour loss: 9.73 percent
Dogecoin (DOGE)
Price: $0.06348
24-hour loss: 4.23 percent
Lido DAO (LDO)
Price: $1.50
24-hour loss: 4.14 percent
BNB (BNB)
Price: $284.71
24-hour loss: 3.93 percent
Terra Classic (LUNC)
Price: $0.0002908
24-hour loss: 3.84 percent
What crypto exchanges are saying about the current market scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin and Ethereum traded slightly lower in the past 24 hours. Despite BTC trading above the $20,000 level, the BTC is still struggling to make a sharp move above its psychological threshold. However, the dominance of BTC has increased from 39 percent on September 10 to 41 percent, indicating that market participants are keen on choosing BTC over other cryptos for its stability. On the other hand, Ethereum was changing hands over the $1,350 level as bulls tried to push the prices toward the $1,400 mark. The decline in the BTC and ETH values is due to the investors returning to more macroeconomic cautiousness.”
Sathvik Vishwanath, CEO and co-founder of Unocoin said, “Thursday presented a very stable day when it comes to crypto prices. In the absence of any major news, the prices held up with slight positive movement to close between 0.5-1 percent increase on most of the top coins by end of the day. On the other hand, the coins fuelling independent blockchains like Helium lost 10 percent in value followed by the announcement of removal of Helium trading pair on Binance and Chainlink lost about 3 percent. The privacy coins had a good day giving a boost of 3-4 percent prices increase by closing.”
weTrade founder Prashant Kumar offered his take on the market scenario as well, "In anticipation of September US job data, the crypto market cap fell by 2 percent during Asia trading hours on Friday morning. Bitcoin, which had held on to the $20,000 level all week, is rallying but could see some movement. Ethereum is down by 1.5 percent over the past day but is still trading above $1,300. There is continued focus on job data as it could affect inflation numbers. On Thursday, ADP data showed that the labour market was strong among private companies in the US.”
Shivam Thakral, the CEO of BuyUCoin, said, “The overall crypto market cap is down by 1.3 percent and is currently hovering around the $959-billion mark. The largest cryptocurrency Bitcoin fell below the $20,000 mark but recovered to just stay afloat above the psychological $20,000 level. Ethereum witnessed a marginal jump in its process and it exchanged hands at $1,356 per coin. Other altcoins like DOT, MATIC, DAI, and TRX witnessed a slight increase in their prices and mostly stayed flat during the last 24 hours. The current phase of the crypto market may stretch for more months as the US Federal Reserve continues its hawkish stance on monetary policies to tame inflation.”
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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