Bitcoin (BTC) saw a dip below the $43,000 mark early Wednesday, while Ethereum (ETH) managed a minor gain above $2,300. The top coins, including Dogecoin (DOGE), Solana (SOL), Ripple (XRP), and Litecoin (LTC), all saw losses. The biggest gainer was the Render (RNDR) token, with a 24-hour jump of nearly 8 percent, while the biggest loser was BLUR, with a 24-hour dip of over 7 percent.
According to CoinMarketCap, the global crypto market cap was at $1.65 trillion, with a 24-hour dip of 0.86 percent.
Bitcoin (BTC) Price Today
At the time of writing, Bitcoin (BTC) was priced at $42,911.16, with a 24-hour dip of 1.46 percent, according to CoinMarketCap. On Indian exchange WazirX, BTC was priced at Rs 37.77 lakh.
Ethereum (ETH) Price Today
Ethereum (ETH) was trading at $2,343.84, with a 24-hour gain of 1.74 percent. On WazirX, the price of Ethereum in India was Rs 2.07 lakh.
Dogecoin (DOGE) Price Today
DOGE saw a 24-hour dip of 2.01 percent, currently priced at $0.08017, as per CoinMarketCap. On WazirX, the price of Dogecoin in India was Rs 7.01.
Litecoin (LTC) Price Today
Litecoin (LTC) saw a 24-hour dip of 0.32 percent and was trading at $67.96. In India, LTC was priced at Rs 5,950.
Ripple (XRP) Price Today
XRP was priced at $0.5103, with a 24-hour loss of 5.07 percent, according to CoinMarketCap. On WazirX, the price of Ripple in India was Rs 44.67.
Solana (SOL) Price Today
Solana (SOL) was trading at $101.15, with a 24-hour dip of 1.52 percent. On WazirX, the price of SOL in India was Rs 8,799.16.
Top Crypto Gainers Today (January 31)
According to CoinMarketCap, the top five crypto gainers over the past 24 hours were:
– Render (RNDR)
Price: $4.67
24-hour gain: 7.90 percent
– Chainlink (LINK)
Price: $15.89
24-hour gain: 6.13 percent
– Pyth Network (PYTH)
Price: $0.4182
24-hour gain: 5.59 percent
– Ronin (RON)
Price: $2.72
24-hour gain: 4.87 percent
– Neo (NEO)
Price: $11.67
24-hour gain: 4.58 percent
Top Crypto Losers Today (January 31)
The top five crypto losers over the past 24 hours, according to CoinMarketCap, were:
– Blur (BLUR)
Price: $0.6251
24-hour loss: 7.21 percent
– Bonk (BONK)
Price: $0.00001115
24-hour loss: 7.18 percent
– Manta Network (MANTA)
Price: $3.36
24-hour loss: 7.03 percent
– Internet Computer (ICP)
Price: $11.68
24-hour loss: 6.16 percent
– Helium (HNT)
Price: $7.48
24-hour loss: 5.67 percent
What Crypto Exchanges Are Saying About Current Market Scenario
ABP Live spoke to various crypto experts for their views on the current market scenario. Here’s what they had to say:
Edul Patel, co-founder and CEO of Mudrex, said, “Bitcoin surpassed $43,000 yesterday and is currently stabilising at $42,000. The market’s attention is on the Federal Reserve’s interest rate decision today, which is widely expected to remain unchanged. Bitcoin is on track to achieve its fifth consecutive monthly increase, marking the longest streak if it maintains its current price level until the end of the month. This trend is likely to continue until the Bitcoin halving takes place.”
CoinSwitch Markets Desk noted, “Bitcoin faced some resistance near the $43.8k mark, but the overall market structure remains bullish in shorter time frames. The immediate strong support lies at $42.3k. All eyes will be on the Federal Reserve today, as they are expected to keep rates unchanged in their interest rate decision meeting. Interestingly, the market is giving a 44 percent chance that the Fed will start cutting rates from the next meeting. If the Fed Chair indicates otherwise in his speech, we can expect another red day.”
Rajagopal Menon, Vice President of WazirX, said, “The MACD Level (12, 26) at -164 signals a ‘Buy’ in terms of momentum. The Stochastic RSI Fast (3, 3, 14, 14) at 92 and William’s Percentage at -20 both indicate a ‘Neutral’ position. After a week of ‘Greed’, the market has slipped into a ‘Neutral’ sentiment with the rise in Bitcoin price. However, the Fed’s interest rate decision may change that. The market is also awaiting the SEC’s interest rate verdict, which is causing uncertainty about Bitcoin’s next support level, contrary to Q4 2023 expectations
