Cryptocurrency Price Today: Starting on a bearish note this week, the global cryptocurrency market ended with decent gains, crossing the $950 million mark towards the end of it and remaining comfortable on that level as the week ended. The crypto market cap was standing at $953.78 billion on Saturday, July 9, down by 1.52 per cent over the past 24 hours, as per data.
“The crypto market started on a bearish note early this week indicating the narrow price action and picked up the momentum tracking gains in the US equities markets. Most cryptocurrencies continued to gain, strengthening the market mid week,” said Edul Patel, CEO and co-founder of Mudrex.
However, Kumar Gaurav, CEO and founder of Cashaa, noted, “We are in a bear market that will get intense. However, the market will present the illusion of growth and lure people to trade. It’s pretty standard for the need to show swings signs to attract the capital sitting on the sideline. But consolidation has not been completed, and the market will correct it further.”
Two days after it scaled the $22,000 mark, Bitcoin came down to the $21,000 level on Saturday. Bitcoin price today stood at $21,542.12, down by a slight 0.12 per cent over the past 24 hours, data from CoinMarketCap showed at the time of writing this article.
“Bitcoin has been trying to move upwards since June 18th and finally managed to break out from an inverse on July 7, trading above $22,000 level. This bullish trend can lead to price reversals and can take the BTC to $25,000 in the coming weeks if the consistency is maintained,” said Patel.
Meanwhile, Ether stayed above the $1200 mark on the day. At the time of writing this article, Ethereum price was standing at $1,214.24, which is down by 0.16 per cent over the past 24 hours.
“The second largest cryptocurrency, Ethereum also hovered from $1,073 to $1,246 over the week, expanding its spheres of influence. The changes in the past seven days in the price action of ETH show that it has added nearly 14.32 per cent which helped it navigate the recent bearish trend to an extent. Overall, the market seems to be bullish this week,” added Patel.
“The overall crypto market traded in green with Bitcoin and Ether witnessing a mini-rally. The Ether surge could be mainly due to the euphoria around the upcoming Ethereum blockchain Merge which may have sparked investor interest in the most popular altcoin,” commented Tarusha Mittal, co-founder and COO at UniFarm.
Memecoins including Shiba Inu and Dogecoin saw jumps over the day. “The meme coin space saw a lot of movement with DOGE and SHIB leading the effort. Elon Musk’s statement in support of DOGE added over $1 billion to its market cap and SHIB announced its plans to have its stablecoin,” said Mittal.
Here are the top 10 cryptocurrencies and their prices on July 9, 2022, (According to data from coinmarketcap.com)
Bitcoin $21,542.12 or 0.12 per cent loss in the last 24 hours
Ethereum $1,214.24 or 0.16 per cent loss in the last 24 hours
Tether $0.9994 or 0.00 per cent loss in the last 24 hours
USD Coin $1.00 or 0.01 per cent loss in the last 24 hours
BNB $242.27 or 0.06 per cent gain in the last 24 hours
Binance USD $1.00 or 0.18 per cent gain in the last 24 hours
XRP $0.3423 or 0.02 per cent loss in the last 24 hours
Cardano $0.4792 or 0.99 per cent gain in the last 24 hours
Solana $38.56 or 0.61 per cent gain in the last 24 hours
Dogecoin $$0.0695 or 0.36 per cent gain in the last 24 hours
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