Cryptocurrency prices on October 8: Bitcoin falls over 2% to $62,300; Dogecoin, Shiba Inu drop over 6%
cryptocurrency market cap, which now stands at approximately $2.17 trillion over the past 24 hours.
As of 1:34 pm IST, Bitcoin was down 2.1%, trading at $62,264, while Ethereum fell 2.5% to $2,426.
«Bitcoin has faced profit-taking after briefly touching the $64,000 mark, now trading around $62,300 as it awaits a key catalyst for a breakout. BlackRock’s declaration of Bitcoin as a new alternative to gold has lifted market sentiment, but investors are still looking for a decisive trigger to determine the next move. Currently, BTC faces resistance at $64,000, with support holding at $61,600,» said Edul Patel, CEO of Mudrex.
According to the CoinDCX Research Team, «The crypto market remained relatively neutral in the past 24 hours, with slight drops in BTC and ETH following a dip in the U.S. market. Investors are anticipating U.S. CPI and PPI data later this week, which could increase market volatility.»
Did you Know?
The world of cryptocurrencies is very dynamic. Prices can go up or down in a matter of seconds. Thus, having reliable answers to such questions is crucial for investors.
View Details»Several other prominent cryptocurrencies saw declines, including BNB (-2.4%), Solana (-3.8%), XRP (-2.6%), Dogecoin (-6.1%),
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