Bitcoin (BTC), the oldest and most valued cryptocurrency in the world, managed to cross its all-time high of $69,000 late on Tuesday. However, it fell down to the $63,000 mark soon after, which could have been caused by investors quickly selling their assets after the $69k mark was touched. Other top coins, including the likes of — Ethereum (ETH), Dogecoin (DOGE), Solana (SOL), Ripple (XRP), and Litecoin (LTC) — saw minor gains and losses across the board. Memecoin Shiba Inu (SHIB), which was the biggest gainer yesterday, emerged as the biggest loser today, with a 24-hour dip of over 27 percent. Starknet (STRK), on the other hand, became the biggest gainer, with a 24-hour gain of nearly 30 percent.
The global crypto market cap stood at $2.36 trillion at the time of writing, registering a 24-hour dip of 6.37 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $63,099.28, registering a 24-hour dip of 7.38 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 53 lakh.
Ethereum (ETH) Price Today
ETH price stood at $3,541.61 marking a 24-hour loss of 3.72 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 2.99 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour loss of 24.01 percent, as per CoinMarketCap data, currently priced at $0.1507. As per WazirX, Dogecoin price in India stood at Rs 12.49.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour dip of 8.89 percent. At the time of writing, it was trading at $81.10. LTC price in India stood at Rs 6,583.12.
Ripple (XRP) Price Today
XRP price stood at $0.582, seeing a 24-hour loss of 10.92 percent. As per WazirX, Ripple price stood at Rs 49.28.
Solana (SOL) Price Today
Solana price stood at $122.39, marking a 24-hour dip of 5.69 percent. As per WazirX, SOL price in India stood at Rs 10,200.
Top Crypto Gainers Today (March 6)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
Starknet (STRK)
Price: $2.28
24-hour gain: 29.31 percent
Optimism (OP)
Price: $4.43
24-hour gain: 14.16 percent
UNUS SED LEO (LEO)
Price: $5.53
24-hour gain: 11.32 percent
Arweave (AR)
Price: $30.65
24-hour gain: 9.23 percent
Aptos (APT)
Price: $13.15
24-hour gain: 8.04 percent
Top Crypto Losers Today (March 6)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
Shiba Inu (SHIB)
Price: $0.00003217
24-hour loss: 27.74 percent
Bonk (BONK)
Price: $0.00002926
24-hour loss: 27.42 percent
FLOKI (FLOKI)
Price: $0.0001146
24-hour loss: 24.33 percent
SATS (1000SATS)
Price: $00006085
24-hour loss: 23.31 percent
Dogecoin (DOGE)
Price: $0.1508
24-hour loss: 23.20 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin hit an all-time high, surpassing $69,000 in the last 24 hours. Although it experienced a brief consolidation to $63,000, marked by increased liquidations, Bitcoin continues to trade above the $60,000 level. Optimistic indicators, including the growth of Bitcoin spot ETFs and an upcoming halving event, suggest the likelihood of a rebound and a continuation of its upward trajectory. On the other hand, BlackRock saw a trading volume of $10 billion, while BRICS introduced an innovative blockchain-based digital currency payment system for trade settlements.”
CoinSwitch Markets Desk noted, “After touching the all time high price of $69k, BTC faced a major correction with Bitcoin briefly trading even below $60k. As a result, more than $1 billion worth of liquidations were seen in the last 24 hours. The major attribution to this drop however remains more in the technicals than fundamentals. Ever since the spot Bitcoin ETF rally, BTC had reached $69k without any substantial correction. On the other hand, memecoins, which showed a massive run in the last few weeks, attracting plenty of retail investors in the process, saw an extreme correction with the “big three”; DOGE (-23.6%), SHIB (-27.2%) and PEPE (-20.1%). This resulted in a loss of billions of dollars in a span of a few hours.”
Rajagopal Menon, Vice President, WazirX, said, “Bitcoin (BTC) faced a sharp correction, plummeting over 10% from its recent all-time high, dipping below $60,000. Heavy selling on exchanges contributed to the decline, with substantial sell orders at $69,000 and $70,000. BTC briefly touched $69,200 before succumbing to selling pressure. The subsequent sell-off waves dragged the price down, reaching as low as $59,700. Despite Bitcoin’s 7% dip in the past 24 hours, ETH and SOL outperformed, while altcoins like ADA, DOGE, and SHIB experienced 10%-12% losses.”
CoinDCX Research Team told ABP Live, “In the last 24 hours, BTC surged to an all-time high, hitting $69,000 in futures trading. However, a sudden 15% drop followed, triggering billion-dollar liquidations. BTC found support at $63,000 and stabilized. ETH also saw a spike to $3,800 before plummeting to $3,200, currently steadying at $3,500, supported by the 20EMA D. This drastic movement caused altcoins to plummet by 15-20% within minutes, possibly due to profit-taking after surpassing the 2021 peak.”
Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “MicroStrategy’s bold move to invest an additional $600 million in Bitcoin intensifies cryptocurrency discussions on price predictions. With 193,000 BTC already in hand, the company’s aggressive acquisition strategy underscores Bitcoin’s dominance. Led by Michael Saylor, MicroStrategy aims to bolster its digital asset portfolio through a convertible senior notes offering, targeting qualified institutional buyers. Bitcoin, currently trading at $64,644.26 with a 2.62% dip, faces critical technical thresholds. The pivot point at $66,880 serves as a battleground, with resistance at $68,700, $71,350, and $74,200, and support at $61,562, $58,819, and $56,127. The market’s neutrality, as indicated by the RSI around 49, suggests a potential shift towards bearish territory, demanding close monitoring by investors and traders alike.”
Shivam Thakral, CEO of BuyUcoin, said, “After reaching a record high of $69,200, Bitcoin fell more than 10%, touching as low as $59,000. This Bitcoin momentum fueled by Spot ETF volumes and interest rate cut anticipations failed to continue as over $1 billion in longs were liquidated. It’s normal to see a correction in Bitcoin after a month-long rally or hitting a new ATH every time. Ethereum, on the other hand, is trying to maintain $3400 as support. The second-largest cryptocurrency could also see a new record high given the Dencun upgrade this year.”
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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.