Crypto
Cryptocurrency Price Today: Bitcoin Sees Bloodbath, Dips Below $59,000. Top Coins Land In Reds
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.”
Subscribe And Follow ABP Live On Telegram: t.me/officialabplive
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.
Cryptocurrency adoption in Latin America is
experiencing explosive growth, driven by a mix of factors in the area like
economic instability, financial innovation, and regulatory evolution. Countries
like Brazil, Argentina, and Mexico are emerging as global leaders in
cryptocurrency usage, offering a fertile ground for both individuals and
businesses to explore digital assets as practical solutions for real-world
financial challenges.
To learn more about Latin America’s rapidly
evolving crypto market, download our whitepaper, “Unlock the Potential of Latin
America’s Booming Crypto Market.”
Read the report on the Latam’s blooming cryptocurrency market.
The rising wave of crypto in Latin
America
Cryptocurrency adoption in Latin America is
accelerating, fueled by inflation and currency devaluation. In Argentina, where
inflation has devastated the peso, Bitcoin and stablecoins have played an
important role in protecting savings. Around 15% of the population uses crypto
regularly, finding it a critical hedge against inflation.
In Brazil, crypto is even being integrated
into mainstream finance. The country was one of the first to approve
cryptocurrency exchange-traded funds (ETFs), and by 2023, the value of USDT
transactions was equivalent to $55 billion, more than 80% of its crypto volume.
This makes Brazil a key player in the global crypto market.
Mexico has carved out a niche in crypto
remittances, with Bitso processing over $3.3 billion in cross-border payments
in 2022. Crypto is emerging as a more efficient solution for these
transactions, benefiting millions of families reliant on remittances.
Regulatory evolution driving market growth
The regulatory environment across Latin
America is evolving, creating opportunities for businesses to expand. For example,
El Salvador made history by becoming the first country to adopt Bitcoin as
legal tender, with further initiatives like Bitcoin-backed bonds and a
government-sponsored crypto wallet. This bold experiment has positioned El
Salvador as a global trailblazer for cryptocurrency adoption, even as its
long-term effects are being evaluated.
Meanwhile, Mexico’s fintech law from 2018
recognized cryptocurrencies as virtual assets, establishing a clear regulatory
pathway for businesses. This clarity has helped companies like Bitso thrive. Meanwhile,
Colombia’s regulatory sandbox has promoted crypto experimentation in a
controlled environment, attracting fintechs and positioning the country as a
future hub for innovation.
Argentina, while still working on a
comprehensive regulatory framework, has seen increased interest in crypto
regulation under its new pro-crypto government. Colombia’s sandbox model is
providing fintechs with a controlled environment to test their offerings,
positioning the country as an emerging leader in the digital asset space as
well.
Emerging opportunities
Despite infrastructure and regulatory
challenges, Latin America offers immense opportunities for crypto growth.
Argentina and Venezuela, with their hyperinflationary economies, continue to
see widespread crypto adoption as citizens seek alternatives to their unstable
currencies. Stablecoins like USDT and USDC can help individuals and businesses
in these countries by providing greater financial stability.
Mexico’s growing role in crypto remittances
and Colombia’s fintech-friendly environment highlight the region’s potential
for further expansion. Tokenization is another area of growth, with Brazil’s
agricultural commodity token project, Agrotoken, revolutionizing access to
credit for small farmers. Brazil’s Drex initiative also highlights the
country’s commitment to developing a fully digital economy and integrating
blockchain technology into mainstream financial systems.
Latin America’s complex economic landscape,
combined with its openness to crypto solutions, makes it an exciting market for
businesses seeking to leverage digital assets. By addressing regulatory and
payment infrastructure challenges, companies can unlock the full potential of
this rapidly evolving crypto market.
The role of payment solutions in this evolving
market
Cross-border payments and regulatory
complexities are significant hurdles for businesses expanding into the Latin
American crypto market. The region’s rising demand for remittances, along with
fragmented payment infrastructures, means businesses must navigate
multi-currency transactions. Additionally, evolving regulatory landscapes
require businesses to stay compliant while managing operational risks.
Paysafe addresses these challenges by
offering solutions that streamline cross-border payments, supporting multiple
currencies and reducing transaction costs. With strong integration into key
local systems, Paysafe helps businesses deliver the seamless payment options
customers expect.
Furthermore, Paysafe’s regulatory expertise
ensures businesses remain compliant across diverse markets, while its advanced
security features protect against fraud, providing businesses with the trust
and reliability they need to thrive in the region’s fast-growing crypto
ecosystem.
Conclusion
Latin America is a prime market for
cryptocurrency adoption and its growth shows no sign of slowing down. From the
pioneering efforts of El Salvador to the sophisticated regulatory framework in
Brazil, the region offers diverse use cases for businesses looking to enter or
expand their crypto operations. Our whitepaper highlights that despite
challenges like regulatory fragmentation and cultural nuances, Latin America
presents tremendous opportunities for growth.
For more detailed insights and strategies,
download our whitepaper, “Unlock the Potential of Latin America’s Booming
Crypto Market.”
Read the report on the Latam’s blooming cryptocurrency market.
By leveraging Paysafe’s comprehensive
payment solutions, businesses can seamlessly navigate the complexities of the Latin
American crypto landscape, unlocking the full potential of one of the world’s
fastest-growing markets.
Disclaimer:
This article is not intended to be
financial, investment or trading advice. This article is for information and
solely for education purposes. It does not protect against any financial loss,
risk or fraud.
Why Paysafe
Paysafe supports Latin American businesses
with over 25 years of experience, offering top-tier fraud, risk, and compliance
support. Their solutions streamline cross-border payments, support multiple
currencies, and reduce transaction costs, enabling confident expansion in the
crypto market.
Cryptocurrency adoption in Latin America is
experiencing explosive growth, driven by a mix of factors in the area like
economic instability, financial innovation, and regulatory evolution. Countries
like Brazil, Argentina, and Mexico are emerging as global leaders in
cryptocurrency usage, offering a fertile ground for both individuals and
businesses to explore digital assets as practical solutions for real-world
financial challenges.
To learn more about Latin America’s rapidly
evolving crypto market, download our whitepaper, “Unlock the Potential of Latin
America’s Booming Crypto Market.”
Read the report on the Latam’s blooming cryptocurrency market.
The rising wave of crypto in Latin
America
Cryptocurrency adoption in Latin America is
accelerating, fueled by inflation and currency devaluation. In Argentina, where
inflation has devastated the peso, Bitcoin and stablecoins have played an
important role in protecting savings. Around 15% of the population uses crypto
regularly, finding it a critical hedge against inflation.
In Brazil, crypto is even being integrated
into mainstream finance. The country was one of the first to approve
cryptocurrency exchange-traded funds (ETFs), and by 2023, the value of USDT
transactions was equivalent to $55 billion, more than 80% of its crypto volume.
This makes Brazil a key player in the global crypto market.
Mexico has carved out a niche in crypto
remittances, with Bitso processing over $3.3 billion in cross-border payments
in 2022. Crypto is emerging as a more efficient solution for these
transactions, benefiting millions of families reliant on remittances.
Regulatory evolution driving market growth
The regulatory environment across Latin
America is evolving, creating opportunities for businesses to expand. For example,
El Salvador made history by becoming the first country to adopt Bitcoin as
legal tender, with further initiatives like Bitcoin-backed bonds and a
government-sponsored crypto wallet. This bold experiment has positioned El
Salvador as a global trailblazer for cryptocurrency adoption, even as its
long-term effects are being evaluated.
Meanwhile, Mexico’s fintech law from 2018
recognized cryptocurrencies as virtual assets, establishing a clear regulatory
pathway for businesses. This clarity has helped companies like Bitso thrive. Meanwhile,
Colombia’s regulatory sandbox has promoted crypto experimentation in a
controlled environment, attracting fintechs and positioning the country as a
future hub for innovation.
Argentina, while still working on a
comprehensive regulatory framework, has seen increased interest in crypto
regulation under its new pro-crypto government. Colombia’s sandbox model is
providing fintechs with a controlled environment to test their offerings,
positioning the country as an emerging leader in the digital asset space as
well.
Emerging opportunities
Despite infrastructure and regulatory
challenges, Latin America offers immense opportunities for crypto growth.
Argentina and Venezuela, with their hyperinflationary economies, continue to
see widespread crypto adoption as citizens seek alternatives to their unstable
currencies. Stablecoins like USDT and USDC can help individuals and businesses
in these countries by providing greater financial stability.
Mexico’s growing role in crypto remittances
and Colombia’s fintech-friendly environment highlight the region’s potential
for further expansion. Tokenization is another area of growth, with Brazil’s
agricultural commodity token project, Agrotoken, revolutionizing access to
credit for small farmers. Brazil’s Drex initiative also highlights the
country’s commitment to developing a fully digital economy and integrating
blockchain technology into mainstream financial systems.
Latin America’s complex economic landscape,
combined with its openness to crypto solutions, makes it an exciting market for
businesses seeking to leverage digital assets. By addressing regulatory and
payment infrastructure challenges, companies can unlock the full potential of
this rapidly evolving crypto market.
The role of payment solutions in this evolving
market
Cross-border payments and regulatory
complexities are significant hurdles for businesses expanding into the Latin
American crypto market. The region’s rising demand for remittances, along with
fragmented payment infrastructures, means businesses must navigate
multi-currency transactions. Additionally, evolving regulatory landscapes
require businesses to stay compliant while managing operational risks.
Paysafe addresses these challenges by
offering solutions that streamline cross-border payments, supporting multiple
currencies and reducing transaction costs. With strong integration into key
local systems, Paysafe helps businesses deliver the seamless payment options
customers expect.
Furthermore, Paysafe’s regulatory expertise
ensures businesses remain compliant across diverse markets, while its advanced
security features protect against fraud, providing businesses with the trust
and reliability they need to thrive in the region’s fast-growing crypto
ecosystem.
Conclusion
Latin America is a prime market for
cryptocurrency adoption and its growth shows no sign of slowing down. From the
pioneering efforts of El Salvador to the sophisticated regulatory framework in
Brazil, the region offers diverse use cases for businesses looking to enter or
expand their crypto operations. Our whitepaper highlights that despite
challenges like regulatory fragmentation and cultural nuances, Latin America
presents tremendous opportunities for growth.
For more detailed insights and strategies,
download our whitepaper, “Unlock the Potential of Latin America’s Booming
Crypto Market.”
Read the report on the Latam’s blooming cryptocurrency market.
By leveraging Paysafe’s comprehensive
payment solutions, businesses can seamlessly navigate the complexities of the Latin
American crypto landscape, unlocking the full potential of one of the world’s
fastest-growing markets.
Disclaimer:
This article is not intended to be
financial, investment or trading advice. This article is for information and
solely for education purposes. It does not protect against any financial loss,
risk or fraud.
Why Paysafe
Paysafe supports Latin American businesses
with over 25 years of experience, offering top-tier fraud, risk, and compliance
support. Their solutions streamline cross-border payments, support multiple
currencies, and reduce transaction costs, enabling confident expansion in the
crypto market.
Crypto
BlackRock releases educational Bitcoin video, indicates cryptocurrency acceptance By Investing.com
Investing.com — BlackRock (NYSE:), recognized as the world’s biggest asset manager, controlling $11.5 trillion in assets, has made a significant move toward embracing cryptocurrencies. The company recently launched a three-minute educational video focused on , the leading digital currency. This move comes on the heels of BlackRock’s recent advice to investors that they could consider allocating up to 2% of their portfolio to Bitcoin.
This suggests an increasing acceptance of cryptocurrencies within conventional financial portfolios. Bitcoin, in particular, has seen a substantial increase in its value this year, with a rise of over 150%.
In addition, BlackRock is the owner of the iShares Bitcoin Trust ETF, further indicating its growing interest in and acceptance of the digital currency market.
Link to video
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
A Peek Inside What Trump’s Presidential Library May Look Like
Environmental group launches six-figure battleground state ad buy against Newsom's 'climate leadership'
Ex-boyfriend of murdered Minnesota mom Madeline Kingsbury sentenced to life in prison
EXCLUSIVE: Republicans in key red state launch campaign to elect ‘true’ conservatives ahead of Trump return
Virginia Gov. Youngkin calls for end to taxes on tips ahead of legislative session
Colorado Rockies game no. 116 thread: Zac Gallen vs José Ureña
Why Marjorie Taylor Greene was ‘kicked out’ of the Freedom Caucus according to Rep. Buck
See it: Tesla crashes into Columbus convention center at 70 mph
Fox News Politics: Georgia the whole day through
Death of missing Oregon girl found in stream ruled homicide
A Peek Inside What Trump’s Presidential Library May Look Like
2024 Was the Most Intense Year for Tornadoes in a Decade
New mission for longtime Trump ally and friend Herschel Walker
Photos: Armenian Christians in Jerusalem’s Old City feel walls closing in
What we learned from Elian Gonzalez, 25 years later : Code Switch
-
Business1 week agoOpenAI's controversial Sora is finally launching today. Will it truly disrupt Hollywood?
-
Politics5 days agoCanadian premier threatens to cut off energy imports to US if Trump imposes tariff on country
-
/cdn.vox-cdn.com/uploads/chorus_asset/file/25782636/247422_ChatGPT_anniversary_CVirginia.jpg "Inside the launch — and future — of ChatGPT")
Technology6 days agoInside the launch — and future — of ChatGPT
-
/cdn.vox-cdn.com/uploads/chorus_asset/file/25789444/1258459915.jpg "OpenAI cofounder Ilya Sutskever says the way AI is built is about to change")
Technology4 days agoOpenAI cofounder Ilya Sutskever says the way AI is built is about to change
-
Politics4 days agoU.S. Supreme Court will decide if oil industry may sue to block California's zero-emissions goal
-
/cdn.vox-cdn.com/uploads/chorus_asset/file/25546252/STK169_Mark_Zuckerburg_CVIRGINIA_D.jpg "Meta asks the US government to block OpenAI’s switch to a for-profit")
Technology5 days agoMeta asks the US government to block OpenAI’s switch to a for-profit
-
Politics6 days agoConservative group debuts major ad buy in key senators' states as 'soft appeal' for Hegseth, Gabbard, Patel
-
Business3 days agoFreddie Freeman's World Series walk-off grand slam baseball sells at auction for $1.56 million