The cryptocurrency market experienced a notable decline today, with the total market capitalization dropping by 4.25% to approximately $2.16 trillion. This downturn coincides with heightened geopolitical tensions in the Middle East, particularly the ongoing Iran-Israel conflict. Despite the market’s overall slump, trading activity surged, with 24-hour volumes increasing by 42.81%, suggesting a spike in market volatility. The Fear & Greed Index currently stands at 39, reflecting a cautious investor sentiment dominated by fear.
Bitcoin Price Analysis: BTC’s Worst Start to October?
Bitcoin has had a challenging start to October, with its price plunging by 3.38% over the last 24 hours. After closing Tuesday night at $60,300, Bitcoin is now trading at $61,579.67. Despite the price drop, Bitcoin’s 24-hour trading volume saw an increase of 40.34%, indicating that major investors might be positioning themselves for further market movements.
Curious about Bitcoin’s future price targets? Our detailed Bitcoin Price Prediction covers everything you need to know.
Altcoins Price Movement: ETH, SOL, XRP Trade in Red!
Ethereum has not been spared from the market’s downturn, dropping 5.66% to trade at $2,487.18. Solana (SOL) also faced significant losses, falling 5.45% to $146.79. XRP’s price saw a more moderate decline, dropping by 2.93% to $0.6018.
Interested in Ethereum’s long-term price forecasts? Check out our comprehensive Ethereum Price Prediction.
Top Gainers:
Despite the overall market decline, some cryptocurrencies managed to post gains. FTX (FTX) emerged as the top performer, climbing 18.60% to $2.18. Wormhole (WH) also saw gains of 4.78%, trading at $0.3215, while Mantra (MAN) increased by 2.76% to $1.28.
Top Losers:
On the downside, Starknet (STARK) experienced the most significant loss, tumbling by 14.57% to trade at $0.3946. Arweave (AR) and Lido DAO (LDO) also saw substantial declines, dropping 13.71% and 13.41%, respectively.
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