On April 1, Bitcoin’s price fell below $87,000; EOS emerged as a significant gainer with a nearly 15% increase. The total market cap stood at $2.69 trillion. Altcoins such as Ethereum and Litecoin encountered losses, and general market sentiment reflected fear, as reflected in the Fear & Greed Index at 33.

On April 1, the cryptocurrency market observed a dip in the global market capitalization, which fell to $2.69 trillion. Bitcoin (BTC) experienced a decrease, dropping below $87,000 as it continued its downward trend. Popular altcoins such as Ethereum (ETH), Solana (SOL), Ripple (XRP), and Litecoin (LTC) also experienced declines. The Fear & Greed Index was reported at 33, indicating a state of fear in the market. Notably, the EOS token achieved a notable gain of nearly 15% during the day, while Jupiter (JUP) suffered the most with a loss exceeding 10%.

Bitcoin (BTC) was priced at $83,075.15, reflecting a slight increase of 1.23% in the last 24 hours. In Indian markets, Bitcoin was estimated to be around ₹71.15 lakh. Ethereum (ETH) garnered a price of $1,842.28, showcasing a gain of 1.66%. In the Indian market, its price stood at ₹1.58 lakh.

Dogecoin (DOGE) saw a price of $0.1692, with a gain of 1.67%, while its price in India was ₹14.46. In contrast, Litecoin (LTC) declined by 1.43%, trading at $84.32, and in India, its price was ₹7,210.99. Ripple (XRP) maintained a price of $2.10 and showed a marginal gain of 0.20%. Solana (SOL), priced at $126.32, achieved a gain of 0.37% in the same time frame.

The current leading gainers include EOS, with a 24-hour gain of 14.5% at a price of $0.6762, and Curve DAO Token (CRV) with a 13.22% increase. Other gainers include Hypeliquid (HYPE), Toncoin (TON), and Jito (JTO). Conversely, the top losers feature Jupiter (JUP) with a 10.21% loss, followed by Celestia (TIA) and Helium (HNT).

Market analysts have expressed various perspectives on the present situation. Edul Patel, CEO of Mudrex, noted increased institutional interest, reinforcing Bitcoin’s potential despite fluctuations. CoinSwitch highlighted Bitcoin’s intraday volatility and significant purchases by Strategy, indicating robust optimism. Avinash Shekhar of Pi42 addressed concerns about Bitcoin’s short-term price stability, emphasizing long-term bullish trends despite recent market turmoil.

Shivam Thakral, CEO of BuyUcoin, expressed optimism for the coming financial year, attributing potential gains to new regulatory clarity and positive developments in the Ripple case, encouraging institutional adoption. The CoinDCX Research Team reported rising volatility with Bitcoin momentarily recovering above $83,000, advancing despite market fears lingering, raising questions about the sustainability of these gains.

In conclusion, the cryptocurrency market on April 1 showed considerable fluctuations with Bitcoin dipping below $87,000, while EOS emerged as a leading gainer. Institutional interest appears to be influencing Bitcoin’s stability, despite pressures in the market as a whole. Analysts maintain cautious optimism for future market conditions, with significant developments potentially paving the way for recovery. Nevertheless, the overarching sentiment remains cautious as the Fear & Greed Index indicates fear among investors amidst ongoing volatility.

Original Source: news.abplive.com

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