Crypto Market Watch: Bitcoin, Ether Slip in Price; Some Altcoins Including Aave, Tron See Profits

Bitcoin recorded a loss of 1.29 percent on Thursday, to trade at the price point of $30,328 (roughly Rs. 24.8 lakh).

Written by Radhika Parashar, Edited by Manas Mitul | Updated: 13 July 2023 12:08 IST

Crypto Market Watch: Bitcoin, Ether Slip in Price; Some Altcoins Including Aave, Tron See Profits

Photo Credit: Pixabay/ WorldSpectrum

As of July 13, the crypto sector capitalisation stands at $1.18 trillion

Highlights

Tether, Binance Coin recorded losses
Dogecoin, Litecoin also recorded price dips
Bitcoin Cash, Chainlink saw profits

The overall crypto price chart reflected losses next to most cryptocurrencies on Thursday, July 13. Bitcoin recorded a loss of 1.29 percent on Thursday, to trade at the price point of $30,328 (roughly Rs. 24.8 lakh). The most expensive cryptocurrency in the market, BTC lost around $187 (roughly Rs. 15,356) from its value in the last 24 hours. It is notable that the price of BTC did not spike as expected despite the CPI data indicating at the lowest inflation in two years (three percent, better than the 3.1 percent forecast).

“The possibility of BTC's downside support getting tested is likely to increase as even the US equity index S&P 500 was up 0.75 percent in the wake of the positive CPI data. This could be indicative of indecisiveness among the investors,” Shubham Hudda, Senior Manager, CoinSwitch Markets Desk, told Gadgets 360.

Ether followed Bitcoin to record a price dip on Thursday. With a price drop of 1.23 percent, the value of ETH now stands at $1,866 (roughly Rs. 1.53 lakh) as per Gadgets 360's crypto price tracker.

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Major cryptocurrencies that saw losses include Tether, Binance Coin, USD Coin, Ripple, and Cardano.

Dogecoin, Solana, Litecoin, Polygon, and Polkadot also witnessed losses.

The overall crypto market capitalisation recorded a loss of 0.96 percent in the last 24 hours. As of Thursday, the crypto sector capitalisation stands at $1.18 trillion (roughly Rs. 96,77,911 crore), as per CoinMarketCap.

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The crypto fear and greed index, down seven points from yesterday, continues to stay in the greed zone with a score of 57/100.

Meanwhile, only a handful of cryptocurrencies managed to mint profits on Thursday.

These include Tron, Bitcoin Cash, Chainlink, Aave, and Zcash.

“In terms of token-specific developments, COMP (+7.39 percent) token has shown its highest volumes ever in coin terms already in July. COMP is one of the most prominent DeFi tokens which has been pumping on the news of its founder leaving the protocol to start a new venture to bridge the gap between traditional finance and crypto,” Hudda noted.

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Further reading: Cryptocurrency, Bitcoin, Ether, Qutm, Wrapped Bitcoin, Zcash, Tether, USD Coin, Ripple, Binance USD, Binance Coin, Cardano, Polygon, Solana, Polkadot, Dogecoin, Shiba Inu, Litecoin, Uniswap, Tron, Monero, Dash, Bitcoin Cash, Flex, Cartesi, Braintrust, Kishu Inu, Circuits of Value

Radhika Parashar

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Radhika Parashar is a senior correspondent for Gadgets 360. She has been reporting on tech and telecom for the last three years now and will be focussing on writing about all things crypto. Besides this, she is a major sitcom nerd and often replies in Chandler Bing and Michael Scott references. For tips or queries you could reach out to her at RadhikaP@ndtv.com. More