Bitcoin (BTC), the world's oldest and most valued cryptocurrency, remained above the $42,000 mark early on Monday, despite minor losses for major currencies. Popular altcoins, including Ethereum (ETH), Solana (SOL), Ripple (XRP), Litecoin (LTC), and Dogecoin (DOGE), saw minor drops across the board. According to data from CoinMarketCap, the market's fear and greed index stood at 80 (extreme greed), marking a favorable stance towards cryptocurrencies as everyone seems to be capitalizing on the holiday season momentum. Helium (HNT) turned out to be the biggest winner, while flow (FLOW) became the biggest loser.
The global crypto market capitalization stood at $1.58 trillion at the time of writing, recording a loss of 3.40 percent in 24 hours.
Bitcoin (BTC) price today
The price of Bitcoin stood at $42,444.70, registering a drop of 3.14 percent in 24 hours, according to CoinMarketCap. According to Indian exchange WazirX, the price of BTC stood at Rs 37.25 lakh.
Ethereum (ETH) price today
The price of ETH stood at $2,253.64, marking a loss of 4.13 percent in 24 hours at the time of writing. According to WazirX, the price of Ethereum in India stood at Rs 1.97 lakh.
Dogecoin (DOGE) price today
DOGE recorded a 1.10 percent drop in 24 hours, according to data from CoinMarketCap, currently priced at $0.09886. According to WazirX, the price of Dogecoin in India stood at Rs 8.60.
Litecoin (LTC) price today
Litecoin saw a 4 percent drop in 24 hours. At the time of writing, it was trading at $74.07. LTC price in India stood at Rs 6,355.09.
Ripple Price (XRP) Today
The price of XRP stood at $0.6297, with a loss of 5.32 percent in 24 hours. According to WazirX, the price of Ripple stood at Rs 55.
Solana (SOL) price today
The price of Solana stood at $71.82, which represents a drop of 1.40 percent in 24 hours. According to WazirX, SOL price in India stood at Rs 6,297.37.
Top Crypto Gainers Today (December 11)
According to data from CoinMarketCap, these are the top five cryptocurrency gainers in the last 24 hours:
Helium (HNT)
Price: $5.24
24 hour gain: 18.62 percent
Injective (INJ)
Price: $22.11
24 hour gain: 15.89 percent
BitTorrent (New) (BTT)
Price: $0.000001261
24 hour gain: 13.20 percent
Avalanche (AVAX)
Price: $35.95
24 hour gain: 10.27 percent
Electronic Cash (XEC)
Price: $0.00003714
24 hour gain: 9.96 percent
Top Crypto Losers Today (December 11)
According to data from CoinMarketCap, these are the top five cryptocurrency losers in the last 24 hours:
Flow (FLOW)
Price: $0.7796
Loss of 24 hours: 9.65 percent
Coffee (COFFEE)
Price: $0.7807
Loss of 24 hours: 9.49 percent
Neo (NEO)
Price: $11.99
Loss of 24 hours: 9.04 percent
Ape Coin (APE)
Price: $1.68
Loss of 24 hours: 8.76 percent
Theta Network (THETA)
Price: $1.07
Loss of 24 hours: 8.67 percent
What Crypto Exchanges Say About the Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live: โBitcoin is seeing a surge in take-profit and sell orders, leading to widespread market sell-offs following its recent peak of $44,700. Currently, the market is witnessing a fight for dominance between bulls and bears. A bullish move beyond the $44,700 resistance could suggest a continuation of the uptrend, while a drop lower could find support at the $40,600 level. At the same time, Ethereum has mirrored Bitcoin's move, posting a 4 percent drop in the last 24 hours as major holders make profits.โ
Parth Chaturvedi, investment leader at CoinSwitch Ventures, said: โThe week started with corrections within the crypto market. According to CoinGecko data, the top 10 M.Cap cryptocurrencies. They are currently trading in the red. Most of the losses, however, occurred around 6 am IST onwards. This could be the result of liquidations of more than $335 million in the last 12 hours, with $300 million in long positions, according to data from Coinglass. In terms of specific blockchain network action, Chainlink's expanded crypto staking program raised over $632 million in just six hours of the early access period last Friday; This also caused LINK to rise. At the same time, Stabelcoin issuer Tether froze 41 wallets on Saturday as a precautionary measure. These wallets were held by individuals listed on the Office of Foreign Assets Control's (OFAC) List of Specially Designated Nationals (SDN).
The CoinDCX research team told ABP Live: โOver the weekend, the cryptocurrency market maintained a calm atmosphere, with some bullish moves in altcoins. However, as the new week began, a sudden drop occurred on Monday: BTC plunged more than 7 percent, briefly falling below $40,500 and touching the daily 20 EMA. It quickly recovered to $42,500. At the same time, ETH saw an 8 percent drop but managed a partial recovery above $2,250. The abrupt market move appears to be more of a correction or profit booking, considering BTC's eight consecutive weekly green candle closes.โ
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Disclaimer: Crypto products and NFTs are unregulated and can be very risky. There may be no regulatory recourse for any losses arising from such transactions. Cryptocurrency is not legal tender and is subject to market risks. Readers are advised to seek expert advice and carefully read the offering documents along with relevant relevant literature on the subject before making any type of investment. Cryptocurrency Market predictions are speculative and any investment made will be at the sole risk and expense of the readers.
