Bitcoin
Bitcoin Remains Above $71,000, Stacks Becomes Biggest Gainer
Bitcoin (BTC), the world’s oldest and most valued cryptocurrency, managed to remain above the $71,000 mark on Wednesday morning, occasionally falling as low as $70,000 but recovering in short order. Other popular altcoins – including Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Solana (SOL), and Litecoin (LTC) – fell into the green across the board as the market’s overall fear and greed index held steady. at 66 (Greed) out of 100, according to data from CoinMarketCap. The Stacks token (STX) emerged as the biggest gainer with a jump of over 9% in 24 hours. Toncoin (TON) became the biggest loser with a drop of almost 7% in 24 hours.
The global crypto market capitalization was $2.64 trillion at the time of writing, recording a 0.68% gain in 24 hours.
Bitcoin (BTC) price today
The price of Bitcoin stood at US$71,024.46, registering a jump of 0.20% in 24 hours, according to CoinMarketCap. According to Indian exchange WazirX, the price of BTC stood at Rs 60.78 lakh.
Ethereum (ETH) price today
ETH price stood at $3,857.69, marking a 1.32% gain in 24 hours at the time of writing. According to WazirX, the price of Ethereum in India was Rs 3.30 lakh.
Dogecoin (DOGE) T Pricetoday
DOGE registered a drop of 0.70% in 24 hours, according to data from CoinMarketCap, currently trading at US$0.1623. According to WazirX, the price of Dogecoin in India was Rs 13.97.
Litecoin (LTC) price today
Litecoin jumped 1.38% in 24 hours. At the time of writing, it was trading at $85.02. The price of LTC in India was Rs 7,189.57.
Ripple (XRP) Price Today
The price of XRP stood at $0.5255, registering a jump of 0.09% in 24 hours. According to WazirX, the price of Ripple was Rs 45.01.
Solana (SOL) price today
Solana’s price stood at $174.25, marking a gain of 0.51% in 24 hours. According to WazirX, the price of SOL in India was Rs 14,879.99.
Top Crypto Gainers Today (June 6)
According to data from CoinMarketCap, here are the top five crypto gainers in the last 24 hours:
Batteries (STX)
Price: $2.40
24 hour gain: 9.13 percent
Cloak (MNT)
Price: $1.05
24 hour gain: 8.51 percent
Pyth Network (PYTH)
Price: $0.4929
24 hour gain: 8.20 percent
ORDI (ORDI)
Price: $57.64
24 hour gain: 7.73 percent
Sui (SUI)
Price: $1.13
24 hour gain: 7.10 percent
Top Crypto Losers Today (June 6)
According to data from CoinMarketCap, here are the top five crypto losers in the last 24 hours:
Toncoin (TON)
Price: $7.16
24 hour loss: 6.85 percent
Floki (FLOKI)
Price: $0.0003124
24 hour loss: 6.01 percent
Core (CORE)
Price: $1.93
24 hour loss: 4.48 percent
Arweave (AR)
Price: US$43.72
24 hour loss: 3.44 percent
Bonk (BONK)
Price: $0.00003396
24 hour loss: 3.32 percent
What cryptocurrency exchanges are saying about the current market scenario
Mudrex co-founder and CEO Edul Patel told ABP Live: “Bitcoin hovered above the $71,000 level as inflows into Bitcoin spot ETFs increased and open interest in the futures market increased. The $72,000 level remains significant resistance. On the other hand, Ethereum has also seen a rise and is trading above the $3,800 level. A break above $4,100 could suggest a resumption of the uptrend.”
CoinSwitch Markets Desk noted: “With BTC less than 4% off its all-time high, options traders anticipate an imminent recovery to $80K by the end of this month. With around $1.5 billion in short positions concentrated around the $72,000 mark, Bitcoin bulls are hoping for a short squeeze.”
Rajagopal Menon, vice president at WazirX, said: “Bitcoin has surpassed the $71,000 mark, indicating potential for further growth amid robust trading volumes. This recovery signifies renewed interest and optimism, supported by several key technical indicators. Additionally, a weaker dollar this week gave crypto markets a boost. The cryptocurrency has surpassed its recent trading range of $60,000 to $70,000 and is now just $3,000 away from a new record high. In recent months, Bitcoin’s price has been constrained by profit-taking, high interest rates, and subdued enthusiasm regarding Bitcoin ETFs. However, the prospect of lower interest rates this year appears to be reigniting interest in the cryptocurrency market.”
The CoinDCX research team told ABP Live: “The crypto market saw a small uptick, with BTC surpassing the $71,000 mark and ETH surpassing $3,850. Altcoins traded mixed. Technically, BTC is currently at a resistance level, with the next resistance level at $73,500. ETH resistance level is at $3,945. The AI category saw a rally with Nvidia shares rising 5% in one day. Overall, the market outlook remains optimistic.”
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