Bitcoin (BTC), the world’s oldest and most popular cryptocurrency, dipped below the $23,000 mark on early Monday morning. Other popular altcoins — including the likes of Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), and Litecoin (LTC) — landed in the reds across the board. The SingularityNET (AGIX) token managed to become the top gainer, with a 24-hour jump of over 23 percent. Fantom (FTM), on the other hand, emerged as the top loser, with a 24-hour dip of over 8 percent.
The global crypto market cap stood at $1.06 trillion at the time of writing, registering a 24-hour loss of 1.68 percent.
Bitcoin (BTC) price today
Bitcoin price stood at $22,924.70, registering a 24-hour loss of 1.81 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 19.42 lakhs.
Ethereum (ETH) price today
ETH price stood at $1,628.37, marking a 24-hour dip of 2.01 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.37 lakhs.
Dogecoin (DOGE) price today
DOGE registered a 24-hour loss of 2.99 percent, as per CoinMarketCap data, currently priced at $0.09187. As per WazirX, Dogecoin price in India stood at Rs 7.89.
Litecoin (LTC) price today
Litecoin saw a 24-hour dip of 2.52 percent. At the time of writing, it was trading at $96.16. LTC price in India stood at Rs 8,150.
Ripple (XRP) price today
XRP price stood at $0.40, seeing a 24-hour dip of 2.20 percent. As per WazirX, Ripple price stood at Rs 33.69.
Solana (SOL) price today
Solana price stood at $23.44, marking a 24-hour loss of 3.50 percent. As per WazirX, SOL price in India stood at Rs 2,097.89.
Top crypto gainers today (February 6)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
24-hour gain: 23.90 percent
The Graph (GRT)
24-hour gain: 17.52 percent
Render Token (RNDR)
24-hour gain: 6.19 percent
24-hour gain: 2.45 percent
24-hour gain: 2.42 percent
Top crypto losers today (February 6)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
24-hour loss: 8.91 percent
24-hour loss: 8.82 percent
24-hour loss: 7.78 percent
Lido DAO (LDO)
24-hour loss: 7.18 percent
Huobi Token (HT)
24-hour loss: 6.03 percent
What crypto exchanges are saying about the current market scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Over the weekend, many cryptocurrencies experienced a drop, mirroring the fall in US stocks caused by the unexpected rise in job growth data on Friday. This has raised fears of potential interest rate hikes to manage the economy and address inflation. Bitcoin was traded in a narrow range between $22,900 and $23,100. It has declined 1.42 percent in the past 24 hours and 2.77 percent in the past week, with support at $22,800 and resistance at $23,150. Although Ethereum also dropped 2 percent on the last day, it remained above $1,600. The low volume suggests limited bullish activity in the market.”
Sathvik Vishwanath, CEO and co-founder of Unocoin said, “If the selling pressure continues, Bitcoin (BTC) could fall as low as $22,400. A break above $23,400 could lead to higher prices. Shiba Inu (SHIB) is in 12th place with a market cap of $8.2 billion and a 6 percent price increase in the last 24 hours. It can see upside if it breaks the $0.000014 resistance.”
Kunji founder Anurag Dixit offered his take, “Last week, the financial markets experienced high volatility due to a barrage of conflicting economic data. The remarks by US Federal Reserve Chairman Jerome Powell were viewed as mildly positive for the medium-term outlook, but the subsequent employment report sparked new concerns. Additionally, the US personal debt reached a record high, further complicating the situation. As a result, the Federal Reserve must navigate these conflicting indicators with caution, making tomorrow’s commentary of immense significance.”
Shivam Thakral, the CEO of BuyUCoin, said, “The overall crypto market looks stable after the US jobs reports revealed the lowest unemployment numbers in 54 years. BTC slipped below the $23,000 level but stabilized on Sunday while Ether is exchanging hands at the $1,627 level. The investors are still in a wait-and-watch mode as they are looking forward to the Fed chief’s comments this week. US Fed chief has indicated that the war against inflation is not over and aggressive policy action is expected to continue.”
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.