Bitcoin, the world’s oldest and most valued crypto, continued to trade sideways and remained below $30,000 early Friday morning. Other popular altcoins — including the likes of Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), and Solana (SOL) — landed in the reds across the board. The market fear and greed index stood at neutral, with a score of 51 (out of 100). The XDC Network (XDC) token emerged to be the biggest gainer, with a 24-hour jump of nearly 15 percent. Litecoin (LTC), on the other hand, turned out to be the biggest loser, with a 24-hour dip of over 5 percent.
The global crypto market cap stood at $1.16 trillion at the time of writing, registering a 24-hour dip of 0.26 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $29,130.40, registering a 24-hour dip of 0.03 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 25.03 lakh.
Ethereum (ETH) Price Today
ETH price stood at $1,831.96 marking a 24-hour loss of 0.38 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.57 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour dip of 0.34 percent, as per CoinMarketCap data, currently priced at $0.07422. As per WazirX, Dogecoin price in India stood at Rs 6.32.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour loss of 5.31 percent. At the time of writing, it was trading at $82.88. LTC price in India stood at Rs 7,332.98.
Ripple (XRP) Price Today
XRP price stood at $0.6637, seeing a 24-hour loss of 2.65 percent. As per WazirX, Ripple price stood at Rs 57.02.
Solana (SOL) Price Today
Solana price stood at $22.72, marking a 24-hour dip of 2.24 percent. As per WazirX, SOL price in India stood at Rs 1,984.49.
Top Crypto Gainers Today (August 4)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
XDC Network (XDC)
24-hour gain: 14.50 percent
24-hour gain: 3.02 percent
24-hour gain: 2.98 percent
24-hour gain: 2.44 percent
UNUS SED LEO (LEO)
24-hour gain: 2.30 percent
Top Crypto Losers Today (August 4)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
24-hour loss: 5.30 percent
24-hour loss: 4.10 percent
NEAR Protocol (NEAR)
24-hour loss: 4.03 percent
24-hour loss: 3.49 percent
24-hour loss: 3.49 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin has managed to hold above the crucial threshold of $29,000, despite facing increasing selling pressure. Traders and investors are eagerly anticipating the release of the July US non-farm payroll data, which is due later today. Interestingly, Bitcoin’s price seems somewhat resilient to certain macroeconomic factors, such as the increase in jobless claims and the US Treasury yield hitting a 10-year high. Instead, the market appears to be more sensitive to unexpected developments rather than those that are already anticipated. In the meantime, Ethereum maintains a relatively stable position, with its price fluctuating within the range of $1,800 to $1,850.”
Parth Chaturvedi, Investments Lead, CoinSwitch Ventures, said, “The crypto market has experienced slight selling pressure in the last 24 hours. The global crypto market capitalisation is down 0.5 percent but remains above $1.2 trillion. The crypto greed and fear index is up by two points and is currently in the neutral zone with a score of 54/100. The overall market, especially BTC, seems to be rather immune to many macro developments in its current state. The latest example is the rise of jobless claims and treasury rates, which usually triggers a risk-off sentiment amongst investors.”
Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “A recent analysis of the Bitcoin market on the four-hour time frame reveals limited trading range that is hitting resistance around $30,000, while support is set at $29,000. Technical metrics like RSI and MACD signal a bearish trajectory. A recent drop to $29,100 suggests a potential continuation of the decline, perhaps targeting $28,700 as the next support level. Another violation could see it drop to $28,200. It is very important to monitor these levels carefully as they could affect the short-term price action of Bitcoin. Market participants should remain cautious with the current market dynamics.”
Shivam Thakral, CEO, BuyUcoin, said, “With a current volume of $29.36 billion, the cryptocurrency market has seen a 15.11 per cent decline in total volume during the last 24 hours. DeFi (Decentralised Finance) contributed $2.4 billion, or 8.19 per cent of the 24-hour volume of the entire market, to this amount. The second-largest cryptocurrency by market value, Ether, displayed a similar trend, rising 0.4 per cent to trade at $1,834. With more advanced and user-friendly apps, Ethereum’s underpinnings are getting stronger.”
CoinDCX Research Team told ABP Live, “Bitcoin continues to be in a range-bound between $29,000 and $29,500 for much of the past 10 days. This is likely due to a lack of fresh money flowing into the crypto market. Investors are waiting for more clarity on the regulatory environment and the potential approval of a Bitcoin ETF in the United States. On a positive note, the chances of a spot Bitcoin ETF being launched in the United States this year have improved significantly, from 50 percent to an encouraging 65 percent as per Bloomberg Intelligence. Companies such as BlackRock, Fidelity, WisdomTree, and Valkyrie have applied to create a spot Bitcoin ETF, and that of BlackRock is particularly interesting.”
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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.