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Crypto Market Today – Feb 7: BTC & Altcoins Face Market Turbulence
Market Update
The crypto market on Friday continued to keep investors on their toes, with coins mainly trading sluggishly. Bitcoin (BTC) price showcased a trading session at the $97,000 level, while Ethereum (ETH), XRP, and Solana (SOL) reflected a similar volatile trajectory. However, TRON emerged as the talk of the town, defying the broader market trend amid strong ecosystem growth.
Market Highlights
Here’s a collection of some of the most buzzworthy coins on February 7:
Crypto Market Today – BTC & Altcoins Face Market Turbulence
Notably, the global cryptocurrency market cap slipped 0.47% from yesterday, reaching $3.18 trillion. However, the global market volume saw a slight 2.88% increase to $126.33 billion. At the same time, BTC price illustrated a tight intraday sideways action, still trading near the previous day’s levels. Moreover, other crypto tokens have mainly taken more heat from yesterday.
BTC Price at $97,000
As of press time, BTC price traded at $97,289, down marginally by 0.2% intraday. However, it’s worth pointing out that the coin’s 24-hour low and high were $95,707.35 and $99,168.61, respectively. The flagship coin’s dominance saw a 0.52% increase from yesterday to 60.87%, signaling that altcoins took more heat and lost market value.
Ethereum (ETH) Price Slips
ETH price cracked nearly 3.5% in the past 24 hours, reaching $2,713. The coin’s intraday bottom and peak were $2,662.45 and $2,857.14, respectively. Crypto market traders remain cautious as whales are recorded selling ETH amid the current turbulent landscape.
XRP Price Below $2.5
Meanwhile, XRP price mimicked a drop, down nearly 3% to $2.35. The coin’s intraday bottom and peak were $2.29 and $2.46, respectively. Despite the price drop, renowned analyst Ali Martinez revealed that whales bought 520 million XRP, flagging a buy-the-dip opportunity. This data also suggests that a recovery above $3 lies ahead.
Solana (SOL) Price Mirrors Dip
SOL price witnessed a 4% decline in value and exchanged hands at $193.39. The coin’s 24-hour low and high were $188.17 and $203.89, respectively. Intriguingly, VanEck made a bullish prediction on SOL price, claiming it to hit $520 by year-end.
Meme Crypto Market Today
The meme coins sector has mirrored a very similar waning action. Dogecoin (DOGE) price tanked 3% in the past 24 hours and is sitting at $0.2522. Shiba Inu (SHIB) pulled back 5%, resting at $0.00001511. Even PEPE and TRUMP reversed gains by 6-7%, trading at $0.000009455 and $17.51, respectively.
Top Crypto Market Gainers Today
- TRON (TRX): $0.2335, 4% gain
- Bitget Token (BGB): $6.70, 2.5% gain
- Ondo (ONDO): $1.38, 1% gain
Top Crypto Market Losers Today
- Onyxcoin (XCN): $0.02637, 14% loss
- Ethana (ENA): $0.4895, 10% loss
- Dogwifhat (WIF): $0.7267, 9% loss
Conclusion
Despite the current volatile landscape of the sector, crypto enthusiasts and analysts continue to stay bullish on long-term prospects. Primarily, renowned analysts and enthusiasts like Kaleo and Ash Crypto, among others, continue to stay optimistic about the sector’s future despite the recent shakeout, per their recent posts on X.
Frequently Asked Questions
Q: What is the current market capitalization of the global cryptocurrency market?
A: The global cryptocurrency market cap currently stands at $3.18 trillion.
Q: What is the current market volume of the global cryptocurrency market?
A: The global market volume currently stands at $126.33 billion.
Q: What is the current price of Bitcoin (BTC)?
A: The current price of Bitcoin (BTC) is $97,289.
Q: What is the current price of Ethereum (ETH)?
A: The current price of Ethereum (ETH) is $2,713.
Q: What is the current price of XRP?
A: The current price of XRP is $2.35.
Q: What is the current price of Solana (SOL)?
A: The current price of Solana (SOL) is $193.39.
