Ethereum

Solana

FTX Token

EigenLayer

The cryptocurrency market has been shaken today, sparking fresh speculation among global investors. Bitcoin (BTC) has seen its value dip to $61,000, while Ethereum (ETH), Solana (SOL), and XRP have also experienced fluctuations. Despite the broader market downturn, EigenLayer (EIGEN) and FTX Token (FTT) emerged as the top performers of the day. 
<h2 id="btc-and-eth-price-update">BTC and ETH Price Update</h2> 
As of today, BTC is trading at $61,867, marking a 3% drop over the past 24 hours. The coin’s lowest and highest intraday levels were $60,189 and $64,110, respectively. Data from The Bit Journal shows that $242.53 million has been withdrawn from Bitcoin ETFs as of October 1st. Despite this, Bitcoin’s market dominance rose by 0.4%, reaching 56.31%. Bitcoin’s total market cap also slipped to $1.22 trillion. Although optimism had been building in recent weeks, Bitcoin is now facing significant downward pressure in line with the broader market decline. 
<img loading="lazy" loading="lazy" decoding="async" class="alignnone size-full wp-image-47728" src="https://thebitjournal.b-cdn.net/wp-content/uploads/2024/10/image-4-1536x614-1.png" alt="Markets Hit by Volatility: BTC, ETH, and Meme Coins Plummet = The Bit Journal" width="1536" height="614" title="Markets Hit by Volatility: BTC, ETH, and Meme Coins Plummet 22"> 
Similarly, ETH has dropped more than 5% in the past 24 hours, currently trading at $2,491. Ethereum’s lowest and highest intraday levels were $2,415 and $2,657, respectively. The coin’s market cap has fallen to $299.88 billion. With $48.52 million flowing out of spot Ethereum ETFs, the price drop has been further accelerated. However, long-term investors remain hopeful for a recovery in both Bitcoin and Ethereum, despite current market trends. 
<h2 id="solana-and-xrp-follow-the-downward-trend">Solana and XRP Follow the Downward Trend</h2> 
Solana (SOL) fell 5%, reaching $147, with its lowest and highest points recorded at $142.84 and $157.26. Meanwhile, <a href="https://thebitjournal.com/ripple-unlocks-billions-of-xrp-price-drops-whats-next/" target="_blank" rel="noopener">XRP</a> declined by over 3%, trading at $0.6019. XRP’s intraday low was $0.5843, and its high was $0.6336. Both Solana and XRP are tracking broader market trends, with short-term volatility expected to continue.<img loading="lazy" loading="lazy" decoding="async" class="alignnone size-full wp-image-47729" src="https://thebitjournal.b-cdn.net/wp-content/uploads/2024/10/image-5-1536x595-1.png" alt="Markets Hit by Volatility: BTC, ETH, and Meme Coins Plummet = The Bit Journal" width="1536" height="595" title="Markets Hit by Volatility: BTC, ETH, and Meme Coins Plummet 23"> 
<h2 id="meme-coins-take-a-hit-ftt-and-eigen-stand-out">Meme Coins Take a Hit, FTT and EIGEN Stand Out</h2> 
The downturn has also affected meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB). DOGE dropped 8% to $0.1079, and SHIB fell over 8% to $0.00001678. Other meme coins, such as PEPE and BONK, saw losses ranging from 2% to 9%. Analysts attribute these drops to the overall decline in BTC prices, which typically influence meme coin performance.<img loading="lazy" loading="lazy" decoding="async" class="alignnone size-full wp-image-47730" src="https://thebitjournal.b-cdn.net/wp-content/uploads/2024/10/image-6-1536x601-1.png" alt="Markets Hit by Volatility: BTC, ETH, and Meme Coins Plummet = The Bit Journal" width="1536" height="601" title="Markets Hit by Volatility: BTC, ETH, and Meme Coins Plummet 24"> 
However, not all coins followed this downward trajectory. FTX Token (FTT) and EigenLayer (EIGEN) were among the few to see gains, with FTT climbing 13% to $2.15 and EigenLayer rising over 10% to $4.09. These coins attracted attention as investors sought alternatives amidst the market chaos. 
The Bit Journal continues to monitor market movements closely, as BTC volatility significantly impacts the entire cryptocurrency landscape. 
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Markets Hit by Volatility: BTC, ETH, and Meme Coins Plummet

Table of Contents

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