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Bitcoin (BTC), the world’s oldest and most valued cryptocurrency, failed to rise above the $28,000 mark early Tuesday as popular altcoins — including the likes of Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), and Litecoin (LTC) — landed in the reds across the board. It appears that investors are remaining cautious as the Israel-Hamas violence escalates on an unprecedented scale. Tezos (XTZ) emerged to be the biggest gainer, with a 24-hour jump of over 7 percent. GALA became the biggest loser, with a 24-hour dip of nearly 7 percent.
The global crypto market cap stood at $1.07 trillion at the time of writing, registering a 24-hour dip of 1.71 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $27,625.22, registering a 24-hour loss of 1.12 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 23.79 lakh.
Ethereum (ETH) Price Today
ETH price stood at $1,584.71, marking a 24-hour dip of 3.07 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.38 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour loss of 3.24 percent, as per CoinMarketCap data, currently priced at $0.05898. As per WazirX, Dogecoin price in India stood at Rs 5.20.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour loss of 2.67 percent. At the time of writing, it was trading at $63.33. LTC price in India stood at Rs 5,470.01.
Ripple (XRP) Price Today
XRP price stood at $0.4999, seeing a 24-hour dip of 3.67 percent. As per WazirX, Ripple price stood at Rs 43.25.
Solana (SOL) Price Today
Solana price stood at $22.14, marking a 24-hour loss of 4.87 percent. As per WazirX, SOL price in India stood at Rs 1,920.06.
Top Crypto Gainers Today (October 10)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
Tezos (XTZ)
Price: $0.7253
24-hour gain: 7.42 percent
Tether Gold (XAUt)
Price: $1,866.55
24-hour gain: 0.51 percent
PAX Gold (PAXG)
Price: $1,870.30
24-hour gain: 0.15 percent
XDC Network (XDC)
Price: $0.04948
24-hour gain: 0.09 percent
TrueUSD (TUSD)
Price: $0.9996
24-hour gain: 0.06 percent
Top Crypto Losers Today (October 10)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
Gala (GALA)
Price: $0.0134
24-hour loss: 6.95 percent
MultiversX (EGLD)
Price: $22.98
24-hour loss: 6.11 percent
Ocean Protocol (OCEAN)
Price: $0.283
24-hour loss: 6.06 percent
Pepe (PEPE)
Price: $0.000000667
24-hour loss: 5.89 percent
Filecoin (FIL)
Price: $3.22
24-hour loss: 5.79 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “The price of Bitcoin is consolidating above the $27,500 mark, due to long liquidations caused by escalating geopolitical tensions in the Middle East and a rise in oil prices. Bitcoin’s value has experienced a remarkable increase of 66.62 percent over the past year. If the market sentiment turns bearish, it is anticipated that Bitcoin will encounter support at roughly $27,195. Meanwhile, Ethereum has been trading around the $1,580 level.”
Parth Chaturvedi, Investments Lead, CoinSwitch Ventures, said, “The crypto market continues to experience slight selling pressure, as riskier asset classes fall due to the Israel-Hamas conflict. As per CoinGecko, the global crypto M.Cap has fallen by 1.5 percent in the last 24 hours and is currently at $1.11 trillion. The crypto fear and greed index, however, continues to hold its position at the score of 50/100 in the neutral zone. The top 10 cryptos by M.Cap. are trading in the red. BTC (-1.1 percent) continues to trade above its support level of $27,000. Facing a more intense selling pressure, ETH was down by 2.9 percent since yesterday but still above its support level at $1,500. The market is attributing ETH’s dip to the selling of allocated ETH tokens by the Ethereum Foundation. The Foundation periodically does this to cover its operational costs, thereby also creating a temporary sell-off in the market.”
Rajagopal Menon, Vice President, WazirX, said, “Bitcoin investment funds saw an increase in inflows as ambitious analysts predict new breakthroughs for the token at $29,000. Ethereum price dropped after 1,700 ETH worth 2.738 million USDC was sold. In addition to an overall decline in altcoin prices and geopolitical uncertainty, this move added to the price decrease of ETH. This has also lent a certain impetus to BTC’s market sentiment.”
Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “On the 4-hour time frame, Bitcoin finds itself at a critical point with a pivot point of $27,348 and has its sights set firmly on the immediate resistance level at $28,350. Should it manage to break this resistance, Bitcoin seems poised to target further hurdles at $29,400 and possibly even $30,785. Conversely, if the bears take control, the support level would rise to $26,630, $25,260 and a more distant safety net at $24,556. The Relative Strength Index (RSI) is at a somewhat neutral 48, with a slight bearish bias as it lingers below the pivotal 50. Its short-term bullish trend supports its positions above the 50-day exponential moving average (EMA) of $27,500, reinforced by an ascending channel on the 4-hour chart that offers strong support around the $27,500 mark. Basically, Bitcoin’s current trajectory remains favourably inclined, dependent on its ability to hold support above $27,500, and a potential breakout of the $28,500 critical level beckons if the prevailing dynamics and external conditions remain favourable.”
Atulya Bhatt, CMO of BuyUcoin, said, “The latest tension between Israel and Hamas is changing the market equation faster than we expected. The disturbance in the region may result in high oil prices and change the economic dynamics at a global level. BTC and Ether are changing hands at $27,624.20 and $1,584.73 level which is a significant dip from the previous day. Markets are expected to remain choppy in the coming weeks owing to the uncertain geo-political conditions.”
CoinDCX Research Team told ABP Live, “In the past 24 hours, the overall market experienced a notable dip of more than 3 percent, although it has since shown a sign of slight recovery. Notably, Bitcoin struggled to surpass the Rs 24,30,000 ($28,000) resistance level and underwent a correction. The price steadily declined below $28,000, eventually slipping beneath the $27,500 mark. However, bullish activity became evident around the $27,250 support area. The price reached a low point near $27,275 and has since begun to rise.”
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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.
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