Cryptocurrency Price Today: Bitcoin Dips Below $26,000 As Top Coins See Bloodbath

Bitcoin (BTC), the oldest and most valued cryptocurrency in the world, dipped below the $26,000 mark early Tuesday as uncertainties around spot Bitcoin exchange-traded fund (ETF) continue in the US. Popular altcoins — including the likes of Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Litecoin (LTC), and Solana (SOL) — landed in the reds across the board as well. The Stellar (XLM) token went on to become the biggest gainer, with a 24-hour jump of nearly 3 percent. GALA became the biggest loser, with a 24-hour dip of nearly 6 percent. 

The global crypto market cap stood at $1.04 trillion at the time of writing, registering a 24-hour dip of 1.06 percent.

Bitcoin (BTC) Price Today

Bitcoin price stood at $25,694.23, registering a 24-hour loss of 1.19 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 22.63 lakh.

Ethereum (ETH) Price Today

ETH price stood at $1,619.53, marking a 24-hour dip of 1.14 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.43 lakh.

Dogecoin (DOGE) Price Today

DOGE registered a 24-hour loss of 0.17 percent, as per CoinMarketCap data, currently priced at $0.06334. As per WazirX, Dogecoin price in India stood at Rs 5.57.

Litecoin (LTC) Price Today

Litecoin saw a 24-hour dip of 1.63 percent. At the time of writing, it was trading at $63.44. LTC price in India stood at Rs 5,703.

Ripple (XRP) Price Today

XRP price stood at $0.5063, seeing a 24-hour loss of 0.90 percent. As per WazirX, Ripple price stood at Rs 44.31.

Solana (SOL) Price Today

Solana price stood at $19.24, marking a 24-hour dip of 2.80 percent. As per WazirX, SOL price in India stood at Rs 1,741. 

Top Crypto Gainers Today (September 5)

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

Stellar (XLM)

Price: $0.1248
24-hour gain: 2.98 percent

SafePal (SFP)

Price: $0.579
24-hour gain: 2.71 percent

Rocket Pool (RPL)

Price: $23.48
24-hour gain: 2.44 percent

Conflux (CFX)

Price: $0.1233
24-hour gain: 1.12 percent

Polygon (MATIC)

Price: $0.5517
24-hour gain: 0.70 percent

Top Crypto Losers Today (September 5)

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

Gala (GALA)

Price: $0.01563
24-hour loss: 5.69 percent

Astar (ASTR)

Price: $0.05262
24-hour loss: 5.69 percent

Render (RNDR)

Price: $1.34
24-hour loss: 3.83 percent

KuCoin Token (KCS)

Price: $3.88
24-hour loss: 3.63 percent

GMX (GMX)

Price: $31.52
24-hour loss: 3.58 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 $25,600 range. This may be due to the ongoing uncertainty surrounding the potential launch of a Bitcoin spot ETF in the United States. This price movement indicates an active presence of bearish sentiment in the market. On the other hand, Ethereum has been trading above the $1,600 level.”

Shubham Hudda, Senior Manager, CoinSwitch Markets Desk, said, “An extended weekend in the US, due to the American labour day on Monday the 5th, meant lower volumes in the US trading hours in the crypto market. BTC(-0.7 percent) traded in a very tight range in the last 24 hours as the price remained above the $25,500 mark but failed to sustain $26,000 levels. In another real-world collaboration, India-based Ethereum layer-2 scaling solution MATIC (+1.1 percent) again achieved a major feat by partnering with CASIO, the world’s leading electronics brand. CASIO has announced that they will be launching their virtual G-SHOCK watch on the Polygon blockchain. The NFT holders can vote and submit designs that can be used in the appearance of the watch. These NFTs go live on public mint on September 23.”

Rajagopal Menon, Vice President, WazirX, said, “After a recent surge to $28,000, Bitcoin remained within a narrow range between $25,800 and $26,000. This surge followed a federal appeals court ruling requiring the SEC to review its rejection of Grayscale Investments’ GBTC conversion into an ETF. However, Bitcoin faced a setback as the SEC postponed crucial ETF decisions expected on Friday, leaving traders uncertain about a sustained recovery. On WazirX, Ethereum Name Service (ENS) and Tellor (TRB) have been the top gainers in the last 24 hours.”

Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “ETH/BTC is showing a modest 1 percent gain today, but ETH/USDT is struggling, down 6 percent in the last 24 hours. Meanwhile, Bitcoin (BTC) is facing a challenging environment with prices currently at $25,645 and a potential drop to $22,000 looming. This downtrend is attributed to bearish signals in BTC derivatives. BTC’s recent rollercoaster ride reflects fluctuating investor sentiment. Despite initial excitement surrounding Grayscale’s legal victory against SEC and ETF demands, optimism quickly waned. Attempts to break the $28,000 support have failed and the Fed’s shrinking balance sheet, down to $8.12 trillion from its peak in March 2023, has added to the uncertainty. This suggests an outflow of liquidity, undermining Bitcoin’s role as an inflation hedge. While Bitcoin has held the $25,000 level since March, derivatives data suggests a volatile bullish stance. The fate of the BTC ETF remains uncertain, leaving the cryptocurrency market in limbo.”

Shivam Thakral, the CEO of BuyUCoin, said, “The recent fluctuations in the crypto market are a testament to its inherent volatility. In the last 24 hours alone, we’ve witnessed a 3.81 percent decrease in the total market volume, now standing at $20.16 billion. Bitcoin remains a focal point, currently priced at $25,654.10 as the dynamic nature of the crypto space, where DeFi is emerging as a formidable player alongside established giants like Bitcoin, painting a diverse and intriguing landscape for investors.” 

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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.