Crypto Market Today (Oct 7th, 2024): Bitcoin Price Crosses $62k, Altcoins See Minor Price Pump!
Shrishesh Tanksalkar7 Oct 20241 min read
Crypto Market Overview: The cryptocurrency business has traced back to its total market cap of $2.19 trillion. The US Jobs Report positively impacted market sentiment, easing concerns about an economic slowdown and driving increased interest in riskier assets like cryptocurrencies. As a result, the market is seeing amplified activity, with intraday trading volumes surging by 73.81% to $61.08 billion. Successively. the Fear & Greed Index at press time sits at 43, indicating a neutral sentiment.
Bitcoin Price Update: BTC Price Crosses $62 Mark!
Bitcoin (BTC) has gained 1.21% in the last 24 hours, trading at $62,861.64. Following the strong US jobs report, demand for US Bitcoin spot ETFs increased, leading to a net inflow of $25.6 million. This shift in the supply-demand balance has bolstered Bitcoin’s price stability. Notably, the 24-hour trading volume for Bitcoin jumped by 97.84%, showing greater market interest.
Curious about BTC’s future price targets? Our Bitcoin Price Prediction answers that and much more!
Altcoin Watch: Mog Coin Becomes Top Gainer Today
Ethereum (ETH) price is also rising, trading at $2,462.20, up 1.38% in the previous 24 hours. Solana (SOL) has been one of the better performers, up 1.89% and currently trading at $146.88. Meanwhile, XRP rose 0.76% to $0.5349.
Interested in the long-term price targets of ETH? Read our Ethereum Price Prediction
Top Gainers
Among the top gainers, Mog Coin leads with a staggering 16.69% increase, trading at $0.0000001681. Dogwifhat follows, up 14.94% to $2.61. Sui also exhibited a strong increase, rising 12.52% to $1.95.
Top Losers
On the negative, Monero (XMR) fell the most, shedding 4.31% to $144.84. Kaspa (KAS) declined 3.85% to $0.1414, while Maker (MKR) fell 3.77% to $1,407.54.
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