The cryptocurrency market on October 11 exhibited a mixed performance, with some altcoins soaring while Bitcoin (BTC) held steady at $60K, despite market speculations. Several major cryptos, including Ethereum (ETH), Solana (SOL), and XRP, displayed positive price movements, while meme coins such as Dogecoin (DOGE) and Shiba Inu (SHIB) faced minor losses. However, top gainers like Dogwifhat (WIF) and Uniswap (UNI) surged by 8-10%, capturing investor attention.
BTC Struggles to Gain Traction
Despite a 0.5% drop over the last day, Bitcoin maintained its position above $60K, with its price sitting at $60,626 at the time of writing. The leading cryptocurrency experienced fluctuations between $58,895.21 and $61,236.72 over the last 24 hours, as Bitcoin ETFs reported outflows amounting to $120.76 million on October 10. BTC’s market dominance dipped slightly, falling to 56.41% as its total market cap hovered around $1.2 trillion.
Ethereum Gains Momentum with ETF Inflows
Ethereum (ETH) witnessed a 1% price increase in the last 24 hours, reaching $2,410, as spot Ethereum ETFs attracted $3.06 million in inflows. ETH fluctuated between $2,329.78 and $2,417.29 during the day. This price boost has reignited optimism among investors, pushing Ethereum’s market cap to $290.07 billion.
Solana and XRP Rally in Positive Territory
Solana (SOL) and XRP both recorded upward movements, each gaining roughly 1%. SOL is trading at $141, after fluctuating between $135.58 and $141.36 within the last 24 hours, boosting its market cap to $66.11 billion. Similarly, XRP experienced a 1.5% surge, trading at $0.535. The coin’s price rose after Ripple filed a cross-appeal against the SEC, a move that reinvigorated market sentiment for the asset.
Meme Coins and Altcoins: A Mixed Bag
Meme coins presented a mixed performance today, with Dogecoin (DOGE) dropping by 0.2% to $0.1075, and Shiba Inu (SHIB) declining by 2% to $0.00001681. However, meme coins such as PEPE, WIF, and Bonk enjoyed gains ranging from 1% to 5%, indicating an overall market turbulence for these digital assets.
Top Gainers: WIF & UNI Lead the Pack
The altcoin market saw Uniswap (UNI) and Dogwifhat (WIF) emerging as the top gainers of the day. UNI surged by 9%, trading at $8.06, while WIF rose by 6%, hitting $2.5. These altcoins have attracted investor attention with their strong upward movement amid market volatility.
Additional notable gainers include MANTRA (OM), which saw an 8% increase to $1.45, cementing its place as one of the top performers for the day.
Top Losers: Neiro & Conflux Drop
On the flip side, First Neiro On Ethereum (NEIRO) and Conflux (CFX) were among the top losers. NEIRO dipped by 6%, trading at $0.001682, while CFX fell by 5%, now sitting at $0.1662. Aptos (APT) also experienced a 5% decline, trading at $8.06, reflecting the broader uncertainty in the market.
Outlook: Will Bitcoin Hold $60K?
With the US CPI data revealing inflation at 0.2% in September, market speculations remain heightened. The broader crypto market witnessed volatility, with some expecting Bitcoin to slip below the $60K mark soon. As the market adjusts to inflation data and ETF movements, further fluctuations are anticipated. The spotlight will remain on the Federal Reserve’s upcoming policy decisions and their potential effects on both the global financial system and the crypto market.
ENG WANJIKU
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