Bitcoin

Market Highlights January 7: Metaverse tokens make an appearance, while most cryptos remain in red

. The crypto market was seen lower over the past 24 hours, as the majority of top 10 cryptos were in the red at time of writing. Today, Wall Street might be impacted by the Non-Farm Payroll report and other job data, to be released at 13: 30 GMT. Top cryptos Bitcoin fell around 3%,…

The crypto market was seen lower over the past 24 hours, as the majority of top 10 cryptos were in the red at time of writing. Today, Wall Street might be impacted by the Non-Farm Payroll report and other job data, to be released at 13: 30 GMT.

Top cryptos

Bitcoin fell around 3%, trading below $42,000 this morning, while Ethereum registered losses of more than 7%. The only gainers in the top 20 were Cardano, XRP, Polygon, and Chainlink.

Cardano, XRP and Polygon were both up around 1% and around 2% respectively. Hex ranked eighth in market capital due to a bug in CoinMarketCap It’s #201. in reality.

Top movers

The price of Counos X, CCXXX has increased by 64% over the past 7 days. It added another 81% value today. It is now 89th in market capital.

The live Cosmos price today is $44 with a 24-hour trading volume of $2.7 billion. Cosmos is up 22% today.

The live Harmony price is $0.32. The token ONE gained 16% today.

MANA, a top 100 cryptocurrency by market capital, has begun recovering from yesterday’s losses. Today’s live Decentraland price is $3. 20 with a 24-hour trading volume of $2.4 billion. Decentraland is up 13% in the last 24 hours.

Quant aims to connect networks and blockchains on a global basis without reducing efficiency or interoperability. It is also recovering from recent losses that have affected the entire crypto market. It added 14% to its value in the last 24 hours.

Bitcoin Demand Shows Signs of Cooling as Whale and ETF Purchases Halve: Cryptoquant

Bitcoin demand growth is decelerating after a rally toward $112,000, with key indicators signaling a potential slowdown phase, according to a new Cryptoquant Institutional Insights report. Profit-Taking Dominates Futures Market Amid Bitcoin Slowdown Cryptoquant’s analysis reveals bitcoin spot demand continues expanding but at a sharply reduced pace…
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Bitcoin

Bitcoin Price Watch: Bulls Eye $108K as Momentum Builds Across Lower Timeframes

Bitcoin is trading at $105,971 to $106,032 over the last hour, with a market capitalization of $2.10 trillion and a 24-hour trading volume of $21.88 billion. During the past 24 hours, the price has fluctuated between $104,004 and $106,450, reflecting a narrow intraday range that coincides with ongoing technical indecision across broader timeframes…
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Bitcoin

XCN defies Bitcoin and Ethereum slump with 97% spike

Onyxcoin (XCN) has risen 97% in the past 24 hours as altcoins enjoy massive buying pressure. The XCN price bucks the trend that saw Bitcoin and Ethereum down after notable gains a day earlier. Tariffs and other market conditions weigh on investor sentiment. Onyxcoin (XCN) has defied a dip for Bitcoin, Ethereum, and top altcoins…

Onyxcoin (XCN) has risen 97% in the past 24 hours as altcoins enjoy massive buying pressure.
The XCN price bucks the trend that saw Bitcoin and Ethereum down after notable gains a day earlier.
Tariffs and other market conditions weigh on investor sentiment.

Onyxcoin (XCN) has defied a dip for Bitcoin, Ethereum, and top altcoins with an impressive 97% over the past 24 hours.

In a price rally that put it on top of the daily gainers’ list, XCN shot up to an intraday high of $0.017.

The performance bucks the downward pressure that has seen Bitcoin (BTC) and Ethereum (ETH) pare gains from a day ago with dips below $80k and $1.5k, respectively.

XCN price performance

The XCN token’s standout performance sees it outpace Flare, Kaspas, and Walrus, among other notable gainers.

According to data from CoinMarketCap, XCN is currently trading at $0.017, with its volume up 1,230%.

The token’s market, though tiny at $531 million, is up 97% and puts Onyxcoin in the top 100 by market cap.

XCN has flipped Floki and CORE, which currently rank 100th and 99th by market cap, respectively.

Onyxcoin’s massive spike comes despite a broader risk market downturn in the past 24 hours.

BTC, ETH, and other coins’ dip has seen the global cryptocurrency market cap drop by 3.9% to $2.52 trillion.

Volume is down 20% to about $127 billion as crypto mirrors losses on Wall Street.

Overall market outlook

Crypto and the stock market rose sharply on Wednesday after US President Donald Trump changed his tariffs stance.

His announcement of a 90-day pause sent risk assets skyrocketing, with Bitcoin’s price breaking to above $82k.

S&P 500 and the Dow Jones Industrial jumped, rising by historic single-day gains.

However, the S&P 500 and Dow opened lower on Thursday and looked to close lower with 3.2% and 2.4 %, respectively.

Dow was down more than 900 points.

On Thursday, Trump announced an additional 25% tariff on China, bringing this to 145%.

After excluding it from the 90-day pause, analysts say the trade war will continue to hurt optimism.

This looks to be the case as stocks sold off despite the latest inflation report that showed CPI dropped to 2.4% against an expected 2.6%.

While this sees many turn to the Federal Reserve for expectations of interest rate cuts, analysts are pointing to “sticky” prices and tariff impact for likely pressure on equities and crypto. Analysts point to a potential bull trap.

Peter Schiff said via a post on X:

“I’ve never seen such a mass selloff of US assets. The US dollar, bonds, and stocks are all getting killed. I can’t remember when the dollar lost 3.5% against the Swiss franc in one day. America’s ride on the global gravy train is about to come to a screeching halt. Buckle up.”