Crypto News Today (Oct 2nd, 2024): Bitcoin and Major Altcoins Fall Amid Iran-Israel War Tensions

Cryptocurrency Market Today: The market capitalization of the cryptocurrency industry has decreased by 4.25% to $2.16 trillion, indicating that the sector is currently in a decline globally. The Middle East’s conflict tensions coincide with this drop. On the other hand, trading activity spiked, with 24-hour volumes rising by 42.81%, suggesting more volatility. With a Fear & Greed Index of 39, investors are still being cautious, which indicates that fear is prevalent in the market.

Bitcoin Price Analysis: BTC’s Worst Start to October?

The price of bitcoin dropped significantly in the last day—by 3.38%. After closing Tuesday night at $60,300, it is currently trading at $61,579.67. Bitcoin’s 24-hour trading volume has surged by 40.34% despite the price decline, which could indicate that major investors are getting ready for more movements.

Keen on BTC price targets? Our Bitcoin Price Prediction answers that and much more!

Altcoins Price Movement: ETH, SOL, XRP Trade in Red!

Ethereum dropped 5.66% of its price to trade at $2,487.18 in line with this. Solana (SOL) saw severe losses as well, falling 5.45% to $146.79. As a result, XRP’s price dropped by a more moderate 2.93%, to $0.6018.

Curious about the long-term price targets of ETH? Read our Ethereum Price Prediction

Top Gainers: 

Amidst the market’s decline, FTX (FTX) emerged as the top performer, climbing 18.60% to $2.18. Wormhole (WH) saw gains of 4.78%, trading at $0.3215, while Mantra (MAN) increased by 2.76% to $1.28.

Top Losers:

On the losing side, Starknet (STARK) tumbled by 14.57%, trading at $0.3946, making it the day’s biggest loser. Arweave (AR) and Lido DAO (LDO) followed closely, dropping 13.71% and 13.41%, respectively.

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