Bitcoin Plunges Under $57,000 Amidst Market Turmoil, MANTRA Soars as Top Gainer

Bitcoin Dips Below $57,000, Altcoins Follow Suit

Bitcoin (BTC), the world’s leading cryptocurrency, saw a decline below $57,000 on Friday morning. Other popular altcoins faced similar losses, including Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Solana (SOL), and Litecoin (LTC). The overall Market Fear & Greed Index stood at 40, indicating fear among investors.

Market Cap and Top Gainers

The global crypto market cap dropped to $2.1 trillion, losing 1.16% in 24 hours. MANTRA (OM) emerged as the biggest gainer, rising over 7% in 24 hours.

Top Losers

Memecoin BONK suffered the most significant loss, dropping over 11% in 24 hours.

Individual Crypto Prices

* Bitcoin (BTC): $56,985.22, down 1.25% in 24 hours
* Ethereum (ETH): $3,082.31, down 0.08% in 24 hours
* Dogecoin (DOGE): $0.1062, down 1.41% in 24 hours
* Litecoin (LTC): $68.23, up 1.58% in 24 hours
* Ripple (XRP): $0.4507, up 0.25% in 24 hours
* Solana (SOL): $135.88, down 3.43% in 24 hours

Crypto Exchange Views

* Mudrex CEO, Edul Patel, attributes Bitcoin’s inability to break past $60,000 resistance to factors such as Fed interest rate anticipations and the German government’s transfer of BTC to exchanges.
* CoinSwitch Markets Desk highlights the German government’s offloading of confiscated BTC as a potential factor easing supply overhang concerns.
* WazirX Vice President, Rajagopal Menon, warns that if BTC falls below $56,500 support, it could face further decline.
* Unocoin CEO, Sathvik Vishwanath, notes the decrease in Bitcoin network activity despite a brief increase in daily active addresses.
* CoinDCX Research Team expresses concern over BTC’s bearish price action and the potential for a significant drop if it loses $57,000 support.

Disclaimer

Cryptocurrency investments carry high risk. Readers are advised to seek professional advice before making financial decisions. Predictions are speculative, and investments should be made at the reader’s own discretion.

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