Crypto price charts saw a bloodbath on early Tuesday morning as most of the popular altcoins — including the likes of Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), Solana (SOL), Ripple (XRP), and Litecoin (LTC) — saw massive dips across the board. As per CoinMarketCap data, only four coins managed to see gains in the last 24 hours, led by Toncoin’s jump of over 10 per cent. The price trends on November 8 appeared to have ended the general bull run cryptocurrencies were experiencing over the past few weeks.
At the time of writing, the global crypto market cap stood at $997.95 billion, losing the $1 trillion mark after weeks and registering a dip of 3.46 per cent in the last 24 hours, as per CoinMarketCap data.
Bitcoin (BTC) price today
Bitcoin price stood at $19,683.52, seeing a 24-hour dip of 5.62 per cent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 17.50 lakhs.
Ethereum (ETH) price today
ETH price stood at $1,475.95, marking a 24-hour loss of 6.62 per cent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.30 lakhs.
Dogecoin (DOGE) price today
DOGE registered a 24-hour loss of 14.63 per cent as per CoinMarketCap data, currently priced at $0.1004. As per WazirX, Dogecoin price in India stood at Rs 8.80.
Litecoin (LTC) price today
Litecoin saw a 24-hour dip of 9.73 per cent. At the time of writing, it was trading at $64.39. LTC price in India stood at Rs 5,700.
Ripple (XRP) price today
XRP price stood at $0.4334, seeing a 24-hour dip of 8.35 per cent. As per WazirX, Ripple price stood at Rs 37.98.
Solana (SOL) price today
Solana price stood at $27.04, marking a 24-hour loss of 15.97 per cent. As per WazirX, SOL price in India stood at Rs 2,525.
Top crypto gainers today (November 8)
As per CoinMarketCap data, here are the top four crypto gainers over the past 24 hours:
24-hour gain: 10.35 per cent
24-hour gain: 2.78 per cent
24-hour gain: 1.44 per cent
24-hour gain: 0.01 per cent
Top crypto losers today (November 8)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
24-hour loss: 25.05 per cent
FTX Token (FTT)
24-hour loss: 19.78 per cent
24-hour loss: 17.18 per cent
24-hour loss: 15.65 per cent
24-hour loss: 15.54 per cent
What crypto exchanges are saying about the current market scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin has been down by nearly 2 per cent since the previous day due to low volume. Though Bitcoin is trading above its critical level at $20,500, it has struggled to break above $21,000. If buyers can seize the initiative, we might see it reach the $21,000 mark, or we might see it fall to the $20,400 level. The second largest cryptocurrency, Ethereum, has lost the $1,600 mark, with bears becoming more active in the market. If bears rise in power, ETH is likely to break out below the $1,500 level, taking the crypto towards the $1,400 zone by the end of the month.”
Sathvik Vishwanath, CEO and co-founder of Unocoin said, “The current XRP price is $0.4746 and the 24-hour trading volume is $1.5 billion. In the last 24 hours, XRP is down 2.09 per cent. The uptrend ADA saw momentum weaken over the weekend with resistance at $0.4200. Technically speaking, Bitcoin has broken the major support level of $20,990 and a break at this level has opened the door for BTC to reach the $20,400 level as $20,600 only provides minor support.”
weTrade founder Prashant Kumar offered his take on the market scenario as well, “The crypto market traded sideways ahead of the US midterm elections. The crypto market is likely to remain choppy this week as economics and rising inflation once again come to the forefront. Bitcoin, which had gone up to $21,000 over the weekend, is trading closer to $20,000 on Tuesday morning during Asia trading hours. Ethereum also saw an approximately 3 per cent decline and is trading at $1,500. With the news of Twitter scaling back its crypto plans, Dogecoin continues to decline. The memecoin has declined by 9 per cent in the last 24 hours. On the other hand, with activity around NFTs slowing down, Solana is down by 17 per cent over the past day.”
Shivam Thakral, the CEO of BuyUCoin, said, “The overall crypto market cap fell by over 2 per cent but it’s still holding above the $1 trillion mark. The total crypto volume in 24 hours saw a jump of over 34 per cent, which signals strong buying activity in the market. Bitcoin and Ether has a peaceful day with marginal fluctuation in their price and traded at $20,197.86 and $1,509.75, respectively. In the altcoin space, DOGE, ADA, and SOL witnessed a double-digit dip in their value while MATIC continues its impressive rally with double-digit growth owing to its partnership with Meta. All eyes are on the US elections today which will have a significant impact on the crypto and traditional financial markets in the coming weeks.”
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.