Bitcoin (BTC), the oldest and most valued cryptocurrency in the world, dipped below the $43,000 mark early Wednesday. Popular altcoins — including the likes of Ethereum (ETH), Solana (SOL), Ripple (XRP), Litecoin (LTC), and Dogecoin (DOGE) — saw minor losses across the board. The SEI token remained the biggest gainer of the lot for the second consecutive day, with a 24-hour jump of over 12 percent. Memecoin BONK remained the biggest loser as well, with a 24-hour dip of over 17 percent.
The global crypto market cap stood at $1.59 trillion at the time of writing, registering a 24-hour dip of 1.52 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $42,550.41, registering a 24-hour dip of 1.22 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 37.35 lakh.
Ethereum (ETH) Price Today
ETH price stood at $2,190.71, marking a 24-hour dip of 2.01 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.93 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour loss of 2.19 percent, as per CoinMarketCap data, currently priced at $0.09095. As per WazirX, Dogecoin price in India stood at Rs 8.08.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour dip of 0.42 percent. At the time of writing, it was trading at $70.81. LTC price in India stood at Rs 6,188.05.
Ripple (XRP) Price Today
XRP price stood at $0.6094, seeing a 24-hour loss of 0.55 percent. As per WazirX, Ripple price stood at Rs 53.35.
Solana (SOL) Price Today
Solana price stood at $75.04, marking a 24-hour dip of 0.87 percent. As per WazirX, SOL price in India stood at Rs 6,563.62.
Top Crypto Gainers Today (December 20)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
Sei (SEI)
- Price: $0.3573
- 24-hour gain: 12.02 percent
NEAR Protocol (NEAR)
- Price: $2.58
- 24-hour gain: 11.68 percent
Helium (HNT)
- Price: $9.30
- 24-hour gain: 10.81 percent
Stacks (STX)
- Price: $1.35
- 24-hour gain: 9.35 percent
Mina (MINA)
- Price: $0.815
- 24-hour gain: 9.14 percent
Top Crypto Losers Today (December 20)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
Bonk (BONK)
- Price: $0.00001797
- 24-hour loss: 17.62 percent
Internet Computer (ICP)
- Price: $9.38
- 24-hour loss: 10.50 percent
Gnosis (GNO)
- Price: $203.74
- 24-hour loss: 9.84 percent
Celestia (TIA)
- Price: $11.93
- 24-hour loss: 9.33 percent
THORChain (RUNE)
- Price: $5.15
- 24-hour loss: 7.66 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “In the past day, Bitcoin soared to $43,500 after a weekend recovery but has now settled at $42,400. Profit-booking has led to a narrow trading range of $41,800 to $43,400. Ethereum is closely aligned with Bitcoin, boasting a 6 percent gain this month and an 82 percent increase this year. The positive market outlook is fueled by ongoing developments and anticipation around the spot Bitcoin ETF.”
CoinSwitch Markets Desk noted, “The crypto market seems to have been range-bound with a downward bias in the last 24 hours. BTC underwent slight selling pressure after it crossed the $43k mark. However, on-chain data shows that Bitcoin mining hashrate has continued its uptrend and even reached a new all-time high. This translates into a positive sentiment building within the miners, that can also trickle into price action.”
Rajagopal Menon, Vice President, WazirX, said, “Despite brief price fluctuations, Bitcoin’s encouraging year-to-date rally (about 150 percent) has kept market sentiments high. Besides this, Michael Saylor has touted the spot BTC ETF as the biggest event in Wall Street since the S&P Index, which has further boosted optimism for Bitcoin. The entry of institutional investors is also being predicted as a pivotal move which will prompt a price hike for Bitcoin next year. The market shows signs of ‘extreme greed’ based on its oscillators despite the ups and downs. While long position liquidity continues, HODLing of tokens will persist in the coming months.”
Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “Bitcoin options are experiencing a surge in demand, with daily open interest on the Chicago Mercantile Exchange (CME) reaching an all-time high of $1.9 billion in December. CoinGlass data reveals that 64.5 percent of the total global open interest of $19.6 billion is bullish call options. Growing open interest, particularly on the CME, suggests a highly liquid Bitcoin market dominated by sophisticated traders and institutional participation. Open interest in CME futures skyrocketed to 113,000 BTC, surpassing Binance as the world’s largest bitcoin futures exchange. The ProShares Bitcoin Strategy ETF hit a record $1.47 billion in assets, underscoring institutional interest. Additionally, markets are counting on a 66 percent chance of a Federal Reserve interest rate cut in March, which is considered bullish for Bitcoin.”
CoinDCX Research Team told ABP Live, “BTC and ETH have been trading within a sideways range for the past few days. From a technical perspective, BTC is consolidating between the key support at $40,600 and resistance at $43,400. Currently, it is holding slightly above $42,400 and is maintaining a position above the 20 EMA D, indicating a continued bullish sentiment unless a major reversal sign occurs.”
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Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Cryptocurrency is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Cryptocurrency market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.
Tags: Crypto News, Insights