Bitcoin Price Struggles to Breach $27,000 as IMX Emerges as Top Gainer


Bitcoin (BTC), the oldest and most valued cryptocurrency in the world, remained below the $27,000 mark on Friday. Other popular altcoins, such as Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Litecoin (LTC), and Solana (SOL) saw mixed results. Immutable (IMX) token was the biggest gainer, up 5% in 24 hours, while SUI was the biggest loser, down 5% in 24 hours.

The global crypto market cap stood at $1.10 trillion, with a 24-hour gain of 0.24%.

Bitcoin Price Today

Bitcoin price was at $26,433.73, up 0.14% in 24 hours, according to CoinMarketCap. In India, BTC price was at Rs 23.57 lakh (WazirX).

Ethereum Price Today

Ethereum price was at $1,837.05, down 0.05% in 24 hours (WazirX). In India, ETH price was at Rs 1.64 lakh.

Dogecoin Price Today

Dogecoin saw a 24-hour gain of 0.38%, trading at $0.06779. In India, DOGE price was at Rs 6.07 (WazirX).

Litecoin Price Today

Litecoin had a 24-hour loss of 1.04%, trading at $87.68. In India, LTC price was at Rs 7,820 (WazirX).

Ripple Price Today

Ripple price was at $0.5249, up 0.78% in 24 hours. In India, XRP price was at Rs 46.79 (WazirX).

Solana Price Today

Solana price was at $18.75, up 1.02% in 24 hours (WazirX). In India, SOL price was at Rs 1,690.

Top Crypto Gainers Today (June 9)

According to CoinMarketCap, the top five crypto gainers in the past 24 hours were:

Immutable (IMX): Price: $0.7281; 24-hour gain: 5.31%
Mina (MINA): Price: $0.4972; 24-hour gain: 4.43%
Injective (INJ): Price: $6.92; 24-hour gain: 3.76%
Mask Network (MASK): Price: $4.15; 24-hour gain: 3.33%
XDC Network (XDC): Price: $0.03542; 24-hour gain: 3.28%

Top Crypto Losers Today (June 9)

The top five crypto losers in the past 24 hours were:

Sui (SUI): Price: $0.7284; 24-hour loss: 4.82%
Lido DAO (LDO): Price: $2.15; 24-hour loss: 3.78%
Frax Share (FXS): Price: $5.89; 24-hour loss: 3.07%
Synthetix (SNX): Price: $2.05; 24-hour loss: 2.04%
Monero (XMR): Price: $141.35; 24-hour loss: 1.77%

What Crypto Exchanges Are Saying About Current Market Scenario

Mudrex co-founder and CEO Edul Patel said Bitcoin is in a consolidation phase, holding above the $26,000 level. Tensions arise from the conflict between the SEC, Binance, and Coinbase, while concerns regarding inflation and central bank hawkishness add to the market unease. Despite these factors, BTC has remained above the $26,000 threshold. If it can breach the resistance at $26,750, a substantial increase in its value may be observed. On the downside, the current support level is at $25,400.

Parth Chaturvedi, Investments Lead for CoinSwitch Ventures, reported crypto markets have traded sideways in the last 24 hours. The global crypto market capitalization is at $1.14 trillion, with a slight decline of 0.1%. The crypto fear and greed index remains midway on the scale with 50 points.

Rajagopal Menon, Vice President of WazirX, said Bitcoin price fluctuation continues due to the SEC’s crackdown on Crypto exchanges. The ecosystem anticipates more rules to be imposed on the industry. Bitcoin’s moving averages and market oscillators indicate a strong ‘Sell’ sentiment.

Sathvik Vishwanath, CEO and co-founder of Unocoin, said Ether held its position at $1,842, signaling stability in Bitcoin’s downtrend. Tokens mentioned in the SEC lawsuits saw a smaller recovery, with BNB up 0.49% and ADA, SOL, and MATIC seeing a minor dip. Bitcoin remains resilient despite recent SEC lawsuits against Binance and Coinbase, along with inflation and central bank concerns.

Shivam Thakral, CEO of BuyUCoin, stated the US SEC action on crypto firms has not impacted BTC prices significantly as it holds strong above the $26,000 mark. The largest altcoin, ETH, also remains resilient, mainly due to optimism around the Fed’s monetary policy decision due next week.

The CoinDCX Research Team said the crypto market has experienced volatility this week, with Bitcoin and Ethereum trading around $26,400 and $1,840, respectively. Major whales with over 10,000 BTC continue to accumulate aggressively, while other significant groups are witnessing substantial distribution. On-chain data indicates that Asia has surpassed the United States in terms of active capital in Bitcoin and crypto markets.

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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.

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