CDS Crypto News crypto news today: Bitcoin and Ethereum Drop, Filecoin and Injective See Gains
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crypto news today: Bitcoin and Ethereum Drop, Filecoin and Injective See Gains

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crypto news today: Bitcoin and Ethereum Drop, Filecoin and Injective See Gains

crypto news today: Bitcoin and Ethereum Slump as Filecoin and Injective Prices Climb

Crypto News Today – The crypto prices today have caused some uneasiness among traders and investors. Bitcoin (BTC) and Ethereum (ETH) dipped to the $69K and $3,600 mark respectively in the past 24 hours. Altcoins such as Solana (SOL), XRP, and various meme coins mirrored this downward trend. However, there is a silver lining as Filecoin (FIL) and Injective (INJ) emerged among today’s top gainers, offering a potential for profit. Conversely, ‘dogwifhat’ (WIF) and Core were among the top losers of the day.

The global crypto market cap decreased by 2.60% to $2.55 trillion, while the total crypto market volume increased by 42.17% to $106.43 billion from yesterday.

Here’s a detailed look at some of the top cryptos and their prices today, June 8.

Bitcoin Price Analysis

While writing, BTC price saw a 2% dip in the past 24 hours, reaching $69,487.09. After a substantial break above $71K, the flagship crypto took a bearish turn. Its 24-hour lows and highs are $68,507.26 and $71,918.97, respectively. Bitcoin’s dominance over the past day saw a 0.38% upswing, resting at 53.62%, with a market cap totaling $1.37 trillion.

crypto news today: Bitcoin and Ethereum Drop, Filecoin and Injective See Gains

Ethereum Price Analysis

ETH price followed the broader market trend, resting at $3,688.51, down 3.09% in the past 24 hours. Its 24-hour bottoms and peaks are $3,604.78 and $3,838.45, respectively.

crypto news today: Bitcoin and Ethereum Drop, Filecoin and Injective See Gains

Altcoins Performance

Solana (SOL): The SOL price noted a pullback, slipping 4.49% over the past day to $162.72. The token’s 24-hour bottom and top were $154.88 and $172.44, respectively.

crypto news today: Bitcoin and Ethereum Drop, Filecoin and Injective See Gains

XRP: The Ripple Labs-backed digital asset fell 4.33% to $0.5002, slipping below the crucial support of $0.52. Its 24-hour lows and highs are $0.4631 and $0.5275, respectively. Despite being considered for the BRICS payment system, XRP followed the broader market movement.

crypto news today: Bitcoin and Ethereum Drop, Filecoin and Injective See Gains

DOGE & SHIB: Meme coins also mimicked the bearish trend. DOGE plunged 7.88% to $0.1483, while SHIB declined 4.39% to $0.00002388.

Top Crypto Gainers Today

Injective (INJ): Rallied 7.98% to $30.24.

Filecoin (FIL): Surged 6.53% to $6.32.

Sei (SEI): Pumped 5.04% to $0.5339.

Wormhole (W): Continued to gain, jumping 2.62% to $0.7189.

Top Crypto Losers Today

dogwifhat (WIF): Plunged 12.48% to $2.83.

Core (CORE): Dipped 12.18% to $1.77.

dYdX (DYDX): Fell 11.41% to $1.93.

Gala (GALA): Corrected 10.95% to $0.04004.

Market Overview

Meanwhile, hourly time frame charts illustrate that BTC and XRP prices waned while Ethereum and Solana struggled to gain upward momentum.

In summary, while major cryptocurrencies like Bitcoin and Ethereum faced a bearish turn, select tokens such as Filecoin and Injective provided a glimmer of hope for investors. As always, the crypto market remains volatile, demanding vigilance from traders and investors alike.

Frequently Asked Questions (FAQ)

Why did Bitcoin and Ethereum experience a drop?

Bitcoin and Ethereum experienced a drop due to various factors such as macroeconomic conditions, regulatory news, or large investor sell-offs. These types of declines are common in the volatile cryptocurrency market.

Why do altcoins follow Bitcoin and Ethereum’s movements?

Altcoins often follow the movements of Bitcoin and Ethereum because these two cryptocurrencies significantly influence overall market sentiment. When Bitcoin and Ethereum move, it tends to impact the prices of other cryptocurrencies.

Why did Filecoin and Injective rise?

The rise in Filecoin and Injective can be attributed to positive developments related to their projects, strategic partnerships, or platform updates. Investors typically view such news favorably, leading to price increases.

How is the global crypto market cap calculated?

The global crypto market cap is calculated by summing the market capitalizations of all cryptocurrencies. The market capitalization of a cryptocurrency is determined by multiplying its total supply by its current price.

For the latest in crypto updates, keep tabs on Crypto Data Space.

crypto news today: Bitcoin and Ethereum Drop, Filecoin and Injective See Gains

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