Join FinextraTV at Money20/20 2024 as Vedran Jankovic, Sales Head Virtual Asset Service Providers, Deutsche Bank and Lukas Enzersdorfer, Deputy CEO & Chief Operating Officer, Bitpanda, explore key trends shaping the financial industry and the role of fintech firms in reshaping these trends. The catalyst for this conversation is Deutsche Bank and Bitpanda’s recent partnership to provide a cash management solution for the German market. This moment in time is a tipping point for the industry, with the incoming MiCA regulation, a harmonised framework that will provide banks with the guardrails they have been searching for to partner with fintech firms and virtual asset providers. This will also result in more efficient usage of Ethereum, Bitcoin and Solana, which will in turn, change the reputational view of blockchain.

Bitcoin (BTC), the world’s oldest and most valued cryptocurrency, lost all its hard-earned gains from the past weeks and dipped below the $59,000 mark early Thursday. It is largely believed that market pressures, including US Federal Reserve Chair Jerome Powell’s comments on inflation reduction and increased selling pressure due to to the $9-billion release from Mt. Gox, has led to the recent downfall. Understandably, other popular altcoins — including the likes of Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Solana (SOL), and Litecoin (LTC) — saw dips across the board as the overall Market Fear & Greed Index stood at 45 (Neutral) out of 100, as per CoinMarketCap data. Sam Altman-led Worldcoin (WLD) emerged to be the biggest gainer, with a 24-hour jump of nearly 6 percent. Akash Network (AKT) became the biggest loser, with a 24-hour dip of nearly 13 percent. 

The global crypto market cap stood at $2.17 trillion at the time of writing, registering a 24-hour dip of 3.78 percent.

Bitcoin (BTC) Price Today

Bitcoin price stood at $58,890.09, registering a 24-hour dip of 0.43 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 53.21 lakh.

Ethereum (ETH) Price Today

ETH price stood at $3,230.37, marking a 24-hour loss of 3.65 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 2.91 lakh.

Dogecoin (DOGE) Price Today

DOGE registered a 24-hour dip of 5.45 percent, as per CoinMarketCap data, currently priced at $0.1148. As per WazirX, Dogecoin price in India stood at Rs 10.54.

Litecoin (LTC) Price Today

Litecoin saw a 24-hour loss of 6.45 percent. At the time of writing, it was trading at $70.46. LTC price in India stood at Rs 6,352.

Ripple (XRP) Price Today

XRP price stood at $0.4592, seeing a 24-hour dip of 4.18 percent. As per WazirX, Ripple price stood at Rs 41.52.

Solana (SOL) Price Today

Solana price stood at $136.51, marking a 24-hour dip of 7.77 percent. As per WazirX, SOL price in India stood at Rs 12,550.01. 

Top Crypto Gainers Today (July 4)

As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:

Worldcoin (WLD)

Price: $2.31
24-hour gain: 5.34 percent

Bittensor (TAO)

Price: $234.23
24-hour gain: 0.23 percent

MultiversX (EGLD)

Price: $31.75
24-hour gain: 5.82 percent

Quant (QNT)

Price: $81.14
24-hour gain: 4.60 percent

MANTRA (OM)

Price: $0.8233
24-hour gain: 4.33 percent

Top Crypto Losers Today (July 4)

As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:

Akash Network (AKT)

Price: $3.25
24-hour loss: 12.61 percent

Conflux (CFX)

Price: $0.1489
24-hour loss: 12.50 percent

Fantom (FTM)

Price: $0.492
24-hour loss: 11.34 percent

Beam (BEAM)

Price: $0.01579
24-hour loss: 11.16 percent

Floki (FLOKI)

Price: $0.0001565
24-hour loss: 11.16 percent

What Crypto Exchanges Are Saying About Current Market Scenario

Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin is currently trading around the $58,000-$59,000 zone. This level is significant as BTC faces various market pressures, including outflows from spot BTC ETFs after a five-day inflow streak, selling pressure from the release of $9 billion from Mt. Gox, and US Federal Reserve Chair Jerome Powell’s comments on inflation reduction, stating that more evidence is needed before considering interest rate cuts. If BTC breaks below this support level, it could potentially drop to the next support levels at $56,500, $54,800, and $50,500. Investors and traders should closely monitor the market.”

CoinSwitch Markets Desk noted, “BTC crashed to a new three month low of under 58k USD before a mini recovery back to just under 60k USD. While the local low of BTC stands at 56.7k USD, anything lower would take us to a 5 month low in BTC prices. If not recovered again, 60k USD may now become a resistance. On the other hand, asset management firm Bitwise has amended its S-1 registration with the US SEC expected to give the final approvals on the ETH ETF as early as July. However this news could not stop ETH to bleed as it fell by more than 3% yesterday.”

Rajagopal Menon, Vice President, WazirX, said, “In the past 24 hours, more than $64.2 million in Bitcoin long positions have been liquidated, intensifying the asset’s selling pressure. Bitcoin failed to break the $61,000 resistance, prompting a decline to the critical $58,000 level. Further resistance is expected around the $60,000 mark as bears dominate the market, driven by liquidations, whale movements, and miner sell-offs. Uncertainty surrounding the Federal Reserve’s interest rate decisions is also adding to Bitcoin’s volatility. Federal Reserve Chair Jerome Powell has hinted at larger-than-expected rate cuts, though no timeline has been provided. This outlook is seen as bullish for Bitcoin and major altcoins. Additionally, a slowdown in miner sell-offs could alleviate market pressure in the coming weeks.”

Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “Bitcoin recently fell below $60,000 to $59,544, driven by a stronger US dollar supported by robust labor market data, reducing expectations of an impending Fed rate cut. Federal Reserve Chairman Jerome Powell’s cautious stance on inflation targets further added to uncertainty and affected bitcoin’s trajectory. The upcoming launch of the Ethereum ETF on July 8 could intensify competition in the crypto market and potentially add downward pressure on Bitcoin prices as investors focus on more. Technical indicators suggest caution, with the RSI nearing oversold levels and the 50 EMA indicating resistance. Bitcoin’s immediate support is around $59,000, key to its short-term bullish outlook.”

CoinDCX Research Team told ABP Live, “The crypto market experienced a significant decline, with BTC dipping to $58,000, filling all CME futures gaps. BTC is now at a crucial level of $59,000; losing this level could lead to a continued fall to $54,000. A reversal from here could target the range high of $72,000-$73,000. ETH also dropped, bouncing from key support at $3,150. Below this, support is at $3,050, with resistance at $3,370.”

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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.

In recent years, the development of the cryptocurrency market has been thriving. In this burgeoning industry, the DREA exchange, with its outstanding technical capabilities and innovative business strategies, is becoming a leader in the industry.

Since the beginning of 2023, the cryptocurrency market has gradually shown a trend of more stable price fluctuations. This is mainly due to the continuous emergence of financial derivative products such as spot Bitcoin ETFs, which have injected more liquidity and vitality into the entire market. Data shows that since the beginning of 2023, the volatility of Bitcoin prices has been maintained below 50%, which means that Bitcoin is gradually growing into a more mature and stable asset class.

Image: https://lh3.googleusercontent.com/pw/AP1GczODngM8pfryYnGkvf4H9HU0W_C6PLikSXTMN9oTuFGK6JyrorvfUGnTZ7UbSmPeN0uFt-bGzp4rJMNi-OTcnUL0cUCoz0NekKZC4hvmod0eDW6scr-QxZKeO2HZwMDJSY8ta2T1UZZEPdFsDorF2OtN=w517-h509-s-no-gm?authuser=0%20

As an industry leader, the DREA exchange has promptly grasped this market trend and provided users with an exceptional cryptocurrency trading experience. The exchange has won widespread recognition in the industry thanks to its outstanding security and advanced technological innovations.

The DREA exchange has an experienced team of cryptocurrency technology experts who are constantly optimizing the performance and stability of the trading system to ensure the security of user transactions and assets. At the same time, DREA exchange is developing more advanced quantitative trading robots and artificial intelligence analysis engines to enhance the trading experience and investment returns for users.

It is worth mentioning that in the past, many cryptocurrency investors often had to spend a lot of time and effort manually adjusting their investment portfolios. But with the digital asset management function of the DREA exchange, investors only need to set their own risk preferences, and the system can automatically adjust based on market changes, significantly improving investment efficiency. DREA exchange recently launched a brand new digital asset management function, providing users with a one-stop asset management solution.

In addition to technical capabilities, the DREA exchange is also keeping up in business expansion. The exchange is constantly expanding its global footprint, providing users with more convenient and efficient cross-border trading services. Currently, DREA exchange has set up operating centers in more than 10 countries and regions around the world, providing localized trading services for local users. At the same time, DREA exchange has also established good cooperation relationships with regulatory authorities in various regions to ensure its compliant business operations, further winning the trust of users.

Driven by both technological innovation and business expansion, the influence of the DREA exchange is constantly expanding. The exchange not only occupies an important position in the cryptocurrency spot trading field, but is also venturing into emerging fields such as digital asset derivatives trading and digital asset management, providing users with more comprehensive financial services.

In addition, DREA exchange will also increase its investment in social responsibility. The exchange will actively participate in public welfare and charity activities, and is committed to promoting the healthy development of the cryptocurrency industry. For example, DREA exchange will cooperate with local universities to carry out cryptocurrency-related education and training, helping more people understand and master the knowledge of this emerging field. At the same time, DREA exchange will continue to support relevant research on the cryptocurrency industry, and provide suggestions and opinions for the government to formulate regulatory policies.

With its innovative operating strategies and advanced technical capabilities, DREA exchange is becoming the leader in the cryptocurrency trading market. The exchange not only provides users with an exceptional trading experience, but also actively fulfills the social responsibility of industry development, which will inject new momentum into this constantly evolving market and promote the healthy and orderly development of the cryptocurrency industry.

Disclaimer: This press release may contain forward-looking statements. Forward-looking statements describe future expectations, plans, results, or strategies (including product offerings, regulatory plans and business plans) and may change without notice. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements.
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