Bitcoin Dips Below $68,000, Injective Becomes Top Gainer

Bitcoin (BTC), the world’s oldest and most valued cryptocurrency, remains on its downward path and dips below the $68,000 mark early Tuesday. Other popular altcoins — including the likes of Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Solana (SOL), and Litecoin (LTC) — landed in the reds across the board as the overall Market Fear & Greed Index stood at 60 (Greed) out of 100, as per CoinMarketCap data. The Injective (INJ) token emerged to be the biggest gainer, with a 24-hour jump of over 9 percent. Notcoin (NOT) became the biggest loser, with a 24-hour dip of over 14 percent. 

The global crypto market cap stood at $2.46 trillion at the time of writing, registering a 24-hour dip of 2.55 percent.

Bitcoin (BTC) Price Today

Bitcoin price stood at $67,774.70, registering a 24-hour dip of 2.37 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 60.33 lakh.

Ethereum (ETH) Price Today

ETH price stood at $3,535.82, marking a 24-hour dip of 3.64 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 3.18 lakh.

Dogecoin (DOGE) Price Today

DOGE registered a 24-hour loss of 2.26 percent, as per CoinMarketCap data, currently priced at $0.1411. As per WazirX, Dogecoin price in India stood at Rs 12.71.

Litecoin (LTC) Price Today

Litecoin saw a 24-hour dip of 1.63 percent. At the time of writing, it was trading at $78.18. LTC price in India stood at Rs 6,960.95.

Ripple (XRP) Price Today

XRP price stood at $0.4866, seeing a 24-hour loss of 1.90 percent. As per WazirX, Ripple price stood at Rs 43.49.

Solana (SOL) Price Today

Solana price stood at $153.92, marking a 24-hour dip of 3.04 percent. As per WazirX, SOL price in India stood at Rs 13,690. 

Top Crypto Gainers Today (June 11)

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

Injective (INJ)

Price: $29.54
24-hour gain: 9.54 percent

Gnosis (GNO)

Price: $349.16
24-hour gain: 8.85 percent

Akash Network (AKT)

Price: $4.41
24-hour gain: 5.50 percent

Oasis (ROSE)

Price: $0.118
24-hour gain: 2.74 percent

Flare (FLR)

Price: $0.02774
24-hour gain: 2.10 percent

Top Crypto Losers Today (June 11)

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

Notcoin (NOT)

Price: $0.05199
24-hour loss: 14.05 percent

Wormhole (W)

Price: $0.5522
24-hour loss: 13.09 percent

Mantra (OM)

Price: $0.9984
24-hour loss: 8.01 percent

JasmyCoin (JASMY)

Price: $0.03573
24-hour loss: 6.90 percent

Ethena (ENA)

Price: $0.7412
24-hour loss: 6.83 percent

What Crypto Exchanges Are Saying About Current Market Scenario

Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin is currently consolidating around the $68,000 level following recent liquidations. Investors and traders are closely watching the Federal Reserve’s upcoming press conference and the release of CPI data, both scheduled for tomorrow. Bears are attempting to push the price below $68,000, but bulls may also engage in strong buying at this level. The next support level for BTC is at $67,400, while resistance is at $68,600.”

Parth Chaturvedi, Head of Investments, CoinSwitch Ventures, said, “BTC failed to breach the all time highs, and fell by 2%. This shows that the market sentiment in the near short term. An analysis however from 2011 prices till now shows that BTC has in fact given a 104% CAGR beating both the US Stock Market and Warren Buffett’s portfolio in returns. The broader altcoin market is displaying a downward trend. The recently launched memecoin NOT suffered the most with it being 14% down as people booked profits out of the TON’s top memecoin. Another famous memecoin, PEPE was down 9% as well with 24 hr overall crypto market liquidations reaching more than 150 million dollars as per the data from coinglass.”

Rajagopal Menon, Vice President, WazirX, said, “Bitcoin (BTC) is facing intense pressure, dragging altcoins to new lows. Currently priced at $68,197, BTC has dropped 2.21% in the last 24 hours. The struggle to surpass all-time highs is linked to a slowdown in stablecoin minting post-halving. However, a head-and-shoulders formation in BTC could soon break the resistance line, potentially pushing its price toward $83,000 in the near term.”

Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “The end of the US-Saudi petrodollar agreement on June 9, 2024 marks a significant shift in global financial dynamics that Bitcoin may benefit from. As Saudi Arabia explores alternatives such as the Chinese RMB, euros and digital currencies, the move could reduce reliance on the US dollar and boost inflation. Bitcoin, with its fixed supply and decentralized nature, may become the preferred hedge against inflation. As traditional fiat currencies devalue, Bitcoin’s attractiveness as an investment could increase, leading to long-term appreciation. Trading at $69,600 with resistance at $70,100, Bitcoin futures look bullish if it stays above the $69,100 pivot point.”

Shivam Thakral, CEO of BuyUcoin, said, “The Bitcoin-led investment activity added over $1.97 billion in inflows while Ethereum witnessed its best performance since March by adding almost $70 million in inflows as per the data from Coinshares. The recent dip in prices has sparked buying activity mainly from institutional investors as digital asset prepares for their next bull run. The regulatory developments and positive macroeconomic factors may lead to greater momentum in the second half of 2024.” 

CoinDCX Research Team told ABP Live, “In the last 24 hours, the crypto market continued to slide down. BTC touched $68,000 while ETH dipped below $3,600. Altcoins also saw significant drops. This week will be important and highly volatile for the crypto market due to the upcoming FOMC meetings and U.S. CPI and PPI announcements. Technically, the trend is bearish in the lower time frame, but in the higher time frame, it remains bullish.”

Subscribe And Follow ABP Live On Telegram:

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.

Be the first to comment

Leave a Reply

Your email address will not be published.