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

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.

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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