BTC and ETH Prices Dip as the Crypto Market Turns Red, FTT Crashes 9% Following Repayment Approval

The crypto prices in the market today have failed to retain the rally ignited yesterday. At the time of writing, an overview of the global crypto market reflects a broader red trading pattern according to the crypto heat map. As a result, the total market valuation has dropped by 2.28% to rest at $2.16 trillion.

Crypto prices today: Top cryptocurrencies witnessed a collective downturn on Friday, with BTC dropping below the crucial $63k mark amid waning investor confidence.

Top crypto prices today: BTC price drops below $63k as investors’ confidence wanes

Fresh updates from Coinmomo on Friday, October 7, show that crypto prices today are leaning towards the bears with an overview of the global crypto market revealing a broader red trading pattern on Friday. As a result of this bearish momentum, the total market valuation dropped by 2.28% to rest at $2.16 trillion.

This bearish trend also mirrors investors’ sentiment in the market as the crypto fear and greed index shows that investors’ confidence continues to wane, dropping to ‘neutral’ after briefly touching ‘greed’ earlier this week.

Meanwhile, the price of BTC dropped to the $62k mark, and the global altcoin market, including the FTT token, plummeted at press time. How have the top cryptocurrencies reacted in the last 24 hours? Let us take a look.

Top Crypto Prices Today

The price of Bitcoin traded as high as $64,413 earlier today, but has retraced significantly at the time of writing. On-chain data reveals that BTC is currently changing hands at $62,267, representing a 1.92% decline over the last day. Meanwhile, amid the price drop, BTC’s one-day trading volume surged by a notable 65% to $33.4 billion.

Also, Bitcoin exchange-traded funds (ETF) recorded a notable $235.19 million in total daily inflow as of October 7. It is important to know that Bitcoin might experience heightened selling pressure as the U.S. government is likely to offload almost 69k BTC soon.

In the same light, the flagship altcoin, Ethereum has dropped over the last day. Data from CoinMarketCap shows that the price of Ethereum declined by 2.48% to $2,425 at press time. Additionally, Ethereum traded between the range of $2,405.58 and $2,518.07, respectively in the last 24 hours.

Interestingly, there were no ETH ETF inflows recorded over the last day according to Soso Value data. This has raised concerns among market observers as they speculate a decline in institutional interest in the ETF product.

Other Altcoin Prices Today

Solana declined remarkably by 3.99% and is now trading at $142.91. The coin experienced an intraday low and high of $142.45 and $151.52, respectively. Solana’s market cap rested at $67.07 billion today.

The XRP price dropped by 2.49% in the past 24 hours and is now trading at $0.5272. Its one-day low and high touched $0.5259 and $0.5449, respectively. Additionally, XRP’s market cap rested at $29.8 billion today.

Binance-backed BNB coin declined by 1.70% to trade at $567.13 and maintained a 24-hour trading range of $560.34 and $582.45, respectively. The TRX price took a different direction, adding 0.69% to its value to trade at $0.1557 with a 24-hour trading range of $0.1544 and $0.1569, respectively.

Meanwhile, the FTT token, the native coin of the bankrupt FTX exchange has seen a price crash of over 9% today. CoinMarketCap data shows that the coin is currently trading at $2.36, indicating a 9.60% decline in the last 24 hours. However, its 24-hour trading volume skyrocketed by 319%.

Intriguingly, this crash comes following approval from a U.S. court for FTX to commence repayment plans for its creditors. Coinfomania reported earlier today that customers of the defunct exchange who had less than $50,000 in their account before the crash, may receive up to 118% of their funds.

Simultaneously, the Dogecoin (DOGE) price saw a 5.86% drop in value and is currently trading at $0.1075. In the same way, the Shiba Inu (SHIB) price plummeted by 6.40% to $0.00001731. Meanwhile, PEPE, WIF, and BONK prices crashed 9.67%, 8.43%, and