Crypto Price Today (Oct 2nd, 2024):  Bitcoin Falls to $61k, Ethereum and Solana Drop Sharply!

Cryptocurrency Market Today: The cryptocurrency industry has experienced a sharp decline following the Israel-Iran war and the U.S. stock market taking a hit. As a result, the total market cap dropped by 4.8% to $2.15 Trillion. Amidst the turmoil, investor sentiment has shifted toward fear, which is evident from the fear and greed index which has dropped to 39. 

Bitcoin Price Analysis: Could Bitcoin Drop Further to $53k?

Bitcoin price saw a sizable drop of 4.17% in the past 24 hours, trading at $61,256.08. This slide is accompanied by a rise in trading volumes, surging 53.45%, showing a heightened level of activity as investors react to the price drop. With this pace, analysts are speculating on whether BTC can regain its strength or fall further to the $53k level if market sentiment continues to slide.

Curious about BTC’s future price targets? Our Bitcoin Price Prediction answers that and much more!

Altcoins Prices Today: ETH Falls 7%, Wormhole Pumps 22%

The largest altcoin, Ethereum wasn’t spared, dropping 7.02% to $2,452.77. Ethereum’s market cap is now under pressure to maintain support above $2,400. Solana also suffered the brunt, dropping 7.06% to $145.99. XRP followed suit with a 6.68% decline, now priced at $0.5907.

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

Top Gainers: 

Amid the broader market losses, Wormhole (WORM) stands out as the day’s top gainer, jumping 22.13% to $0.3808. Mantra (OM) managed a modest increase of 1.94%, trading at $1.28, while Conflux (CFX) rose 0.83% to $0.1856.

Top Losers: 

On the downside, Beam (BEAM) dropped 17.73% to $0.01705, making it the top loser for the day. Arweave (AR) followed closely, shedding 16.94% to $19.23. Starknet (STRK) also faced a sharp decline, down 16.37%, now priced at $0.3899.

Stay tuned for more updates as the market volatility continues to shape the crypto landscape.