Cryptocurrency Price Today: Bitcoin Dips Below $26,000, Pepe Becomes Biggest Loser

Cryptocurrency price on September 11 quick take: The global market cap dipped down to $1.03 trillion.

Bitcoin price stood at $25,719.69 on Monday.

Source : Mohamed Hassan/Pixabay

Bitcoin (BTC), the oldest and most valued cryptocurrency in the world, dipped below the $26,000 mark over the weekend, lending a gloomy outlook on the overall market. This dip is believed to have been caused by reports of embattled crypto lender FTX looking to liquidate its crypto assets worth $3.3 billion, leading to a ‘sell’ sentiment among people. Popular altcoins — including the likes of Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Litecoin (LTC), and Solana (SOL) — landed in the reds across the board. The Stellar (XLM) token went on to become the biggest gainer, with a 24-hour jump of over 3 percent. Memecoin Pepe (PEPE) became the biggest loser, with a 24-hour dip of around 8 percent. 

The global crypto market cap stood at $1.03 trillion at the time of writing, registering a 24-hour dip of 0.79 percent.

Bitcoin (BTC) Price Today

Bitcoin price stood at $25,719.69, registering a 24-hour dip of 0.52 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 22.50 lakh.

Ethereum (ETH) Price Today

ETH price stood at $1,608.83, marking a 24-hour loss of 1.29 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.41 lakh.

Dogecoin (DOGE) Price Today

DOGE registered a 24-hour dip of 2.83 percent, as per CoinMarketCap data, currently priced at $0.06118. As per WazirX, Dogecoin price in India stood at Rs 5.36.

Litecoin (LTC) Price Today

Litecoin saw a 24-hour loss of 2.41 percent. At the time of writing, it was trading at $61.25. LTC price in India stood at Rs 5,340.

Ripple (XRP) Price Today

XRP price stood at $0.4961, seeing a 24-hour dip of 1.07 percent. As per WazirX, Ripple price stood at Rs 43.01.

Solana (SOL) Price Today

Solana price stood at $18.35, marking a 24-hour loss of 4.32 percent. As per WazirX, SOL price in India stood at Rs 1,624. 

Top Crypto Gainers Today (September 11)

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

Stellar (XLM)

Price: $0.134
24-hour gain: 3.08 percent

Render (RNDR)

Price: $1.51
24-hour gain: 1.81 percent

Injective (INJ)

Price: $6.67
24-hour gain: 0.53 percent

UNUS SED LEO (LEO)

Price: $3.84
24-hour gain: 0.42 percent

Monero (XMR)

Price: $143.25
24-hour gain: 0.18 percent

Top Crypto Losers Today (September 11)

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

Pepe (PEPE)

Price: $0.0000007054
24-hour loss: 8.94 percent

ApeCoin (APE)

Price: $1.21
24-hour loss: 7.54 percent

Arbitrum (ARB)

Price: $0.834
24-hour loss: 6.45 percent

Gala (GALA)

Price: $0.01483
24-hour loss: 6.19 percent

Sui (SUI)

Price: $0.451
24-hour loss: 5.71 percent

What Crypto Exchanges Are Saying About Current Market Scenario

Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin has been trading above the $25,700 level for the last two days. The price of Bitcoin experienced a momentary push above $26,000 on Friday. However, this surge was short-lived, with bearish sentiment prevailing, indicating an ongoing struggle between bulls and bears. Bitcoin's current resistance is at $26,500, and if the price drops from its current position, it will find immediate support at $25,300. Meanwhile, Ethereum continues to trade above the $1,600 mark.”

Parth Chaturvedi, Investments Lead, CoinSwitch Ventures, said, “The crypto market traded sideways with downward pressure over the weekend. As per CoinGecko, the global crypto M.Cap is down 0.9 percent but remains above $1 trillion. The crypto fear and greed index continues to be in the fear zone with a score of 40/100 for the second consecutive day. Investor sentiments seem to low as FTX may soon be able to liquidate its crypto holdings worth $3.4 billion. If this happens, the market may witness a selling pressure which may dampen price action, especially for ETH (-1.1 percent) and SOL (-5.0 percent).”

Rajagopal Menon, Vice President, WazirX, said, “A general emphasis on the Common Reporting Standard and Crypto-Asset Reporting Framework by G20 leaders, indicates an incoming ecosystem where data is transparent. This could impact the sentiments of stakeholders worldwide. FTX’s potential liquidation might trigger a sell-off of assets in the coming weeks, a concern among market participants. Venture Capital continues to make inroads in DeFi with hundreds of millions invested this year so far.”

Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “Bitcoin price analysis reveals it is at its lowest since June, struggling around $25,742, down 0.52 percent in 24 hours and 0.76 percent for the week. Bulls are aiming to break the $26,000 resistance for a potential rally, but a break of $25,500 could lead to further losses. The 20-EMA crossing below the 50-EMA indicates a bearish sentiment, while the RSI is hovering near neutral levels, indicating a short-term continuation of the current trend. In addition, the MACD remains bearish, highlighting downward pressure.”

Shivam Thakral, the CEO of BuyUCoin, said, “The overall crypto market remained flat during the weekend with BTC and ETH showing marginal fluctuations in their prices. The next market mover is FTX’s liquidation of over $3 billion in crypto assets which is pending court approval. If the court gives the green signal for the liquidation of assets by FTX, it may impact the crypto market prices especially those of Solana and FTT.  The markets are expected to remain choppy due to uncertain macroeconomic factors.” 

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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.