The crypto market is experiencing a bearish trend today, with Bitcoin (BTC) dipping below $61,000 and Ethereum (ETH), Solana (SOL), and XRP all showing declines of 1% to 3%. This downturn is primarily attributed to significant sell-offs related to the PlusToken scam, leading to concerns among investors worldwide.
Market Overview
As of October 10, the global cryptocurrency market cap has decreased by 1.94% to approximately $2.13 trillion, with the total market volume dropping by 2.91% to $67.22 billion. The recent developments in the market reflect a cautious atmosphere among investors as they grapple with rising sell-off fears.
Bitcoin Price Today
BTC has seen a nearly 2% dip, trading at $60,852. Its intraday trading range has fluctuated between $60,314.22 and $62,508.84. The decline is compounded by $44.47 million in outflows from Bitcoin ETFs reported as of October 9. Bitcoin’s market dominance has also slipped by 0.16%, resting at 56.59%, with a total market cap of $1.2 trillion.
Ethereum Price Today
Ethereum has dropped over 2%, currently trading at $2,395. The coin’s price has experienced an intraday range of $2,350.95 to $2,469.21. Concerns about an impending sell-off of 7,000 ETH from the Chinese government have added to the bearish sentiment surrounding ETH, which has a market cap of $288.30 billion.
Solana Price Today
Solana’s price has decreased by approximately 3%, reaching $140. It has recorded an intraday low of $137.85 and a high of $144.17. The overall bearish trend has affected Solana’s market cap, which now stands at $65.72 billion.
XRP Price Today
XRP has seen a slight decline of nearly 1%, trading at $0.5272. The coin’s 24-hour price range has been between $0.5219 and $0.5339, with a market cap recorded at $29.87 billion.
Meme Coins Prices Today
- Dogecoin (DOGE) has fallen nearly 1%, currently trading at $0.1079.
- Shiba Inu (SHIB) has seen a drop of over 2%, trading at $0.00001711.
- Other meme coins like PEPE, WIF, and BONK have tumbled by 3%-5% in line with the broader market decline.
Top Crypto Gainers
Despite the market downturn, some cryptocurrencies have shown resilience:
- NEIRO price surged over 5%, currently sitting at $0.001784.
- Uniswap (UNI) gained 4%, trading at $7.40.
- UNUS SED LEO (LEO) saw a slight increase of over 1%, reaching $6.06.
Top Crypto Losers
The following cryptocurrencies have recorded significant declines:
- Aptos (APT) fell by 8.5%, trading at $8.42.
- THORChain (RUNE) slipped nearly 7%, currently at $4.63.
- FTX Token (FTT) decreased by 6%, trading at $2.18.
Conclusion
Today’s market reflects a cautious outlook among investors as BTC, ETH, and various altcoins face pressure from broader sell-off concerns linked to the PlusToken scam. While some cryptocurrencies, like NEIRO and UNI, manage to gain traction, the overall sentiment leans towards a bearish trend as the crypto community watches for potential recovery signs.
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