Bitcoin (BTC) managed to climb above $35,000 early Wednesday, regaining its streak after a day of slump. The overall market’s Fear & Greed Index stood at 73 (greed) as per CoinMarketCap. Popular altcoins — including the likes of Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), and Litecoin (LTC) — saw notable gains across the board. Cronos (CRO) emerged to be the biggest gainer, with a 24-hour jump of over 11 percent. THORChain (RUNE) became the biggest loser, with a 24-hour dip of over 9 percent.
The global crypto market cap stood at $1.33 trillion at the time of writing, registering a 24-hour gain of 0.56 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $35,304.40, registering a 24-hour gain of 1.22 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 30.38 lakh.
Ethereum (ETH) Price Today
ETH price stood at $1,882.64, marking a 24-hour dip of 0.36 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.62 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour dip of 0.93 percent, as per CoinMarketCap data, currently priced at $0.07378 As per WazirX, Dogecoin price in India stood at Rs 6.38.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour loss of 0.18 percent. At the time of writing, it was trading at $72.98. LTC price in India stood at Rs 6,201.05.
Ripple (XRP) Price Today
XRP price stood at $0.6856, seeing a 24-hour gain of 0.30 percent. As per WazirX, Ripple price stood at Rs 59.39.
Solana (SOL) Price Today
Solana price stood at $43.41, marking a 24-hour gain of 6.50 percent. As per WazirX, SOL price in India stood at Rs 3,750.
Top Crypto Gainers Today (November 8)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
24-hour gain: 11.90 percent
24-hour gain: 7.20 percent
24-hour gain: 5.46 percent
Trust Wallet Token (TWT)
24-hour gain: 3.55 percent
24-hour gain: 2.02 percent
Top Crypto Losers Today (November 8)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
24-hour loss: 9.75 percent
24-hour loss: 9.72 percent
24-hour loss: 8.81 percent
Oasis Network (ROSE)
24-hour loss: 8.02 percent
Frax Share (FXS)
24-hour loss: 7.52 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin is presently trading at the $35,300 mark, as altcoins Solana and Toncoin have exhibited substantial growth rates, surging by more than 6 percent and 11 percent, respectively. This recent price movement has pushed the total cryptocurrency market value to a 16-month high of 1.34 trillion dollars. To maintain its positive momentum, Bitcoin will need to break through the $35,700 threshold, or it may find support around the $34,200 mark. Market sentiment at the moment is mostly neutral, leaning towards a bullish stance driven by the strong performance of altcoins. Meanwhile, Ethereum is trading close to the $1,900 level.”
Shubham Hudda, Senior Manager, CoinSwitch Markets Desk, said, “Bitcoin (BTC, +1.1 percent) continued its narrow range while showing a little upside and testing the $36k mark before finding support at $35k again. If Bitcoin does touch $36k, it would form an 18-month high. The pick of the coin by investors in the last 24 hours remained Solana (SOL, +6.7 percent). SOL has doubled in value in the last 4 weeks but traders still seem to bid SOL at a higher price. While SOL’s all-time high remains at $260, it touched the $8 mark last December in the FTX aftermath. $50 will remain a crucial psychological resistance for SOL in the short term.”
Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “Recent Bitcoin market trends indicate a phase of consolidation with a key level at $34,990 attracting the attention of day traders. The immediate resistance is around $35,360, which poses a challenge in recent trading. If this level is breached, traders can target resistances at $36,051 and $37,018. On the upside, initial support is around $34,693 and bearish momentum could lead to further support levels at $33,281 and $32,481. The Relative Strength Index (RSI) at 57 is leaning towards bullish sentiment without moving into overbought territory. The 50-day exponential moving average (EMA) at $34,390 suggests a slight short-term bullish bias. Traders should consider setting stop-loss orders amid continued market volatility.”
Shivam Thakral, CEO of BuyUcoin, said, “The overall crypto market touched the $1.33 trillion mark with BTC and ETH leading the effort. Altcoins like SOL, TON, and MATIC made impressive contributions to the current market rally as the world’s largest altcoin, ETH, jumped by over 15 percent in November. The digital asset industry is ready for the next phase of responsible growth as the FTX trial has come to a close. The positive market sentiment is pointing towards healthy and sustainable growth in the coming weeks subject to macro-economic conditions.”
CoinDCX Research Team told ABP Live, “In the last 24 hours, both BTC and ETH went through significant price swings. They initially dipped in value, then rapidly rose, and finally settled at their initial levels. BTC attempted to reach $36,000 but faced selling pressure, bringing it back to the $35,300 range. In contrast, ETH found support at the prior resistance level of $1,850, quickly jumping to $1,900, and now sitting at around $1,880. This is a positive sign if it can hold this position. Notably, the Ethereum blockchain processed a remarkable $250 billion in transactions last week, marking the highest activity since mid-March, and bolstering the positive outlook for ETH.”
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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.