Bitcoin (BTC), the oldest and most valued cryptocurrency in the world, dipped down to the $43,000 range early Thursday as crypto prices face strong headwinds. Popular altcoins — including the likes of Ethereum (ETH), Ripple (XRP), Litecoin (LTC), Solana (SOL), and Dogecoin (DOGE) — landed in the reds across the board. The SEI token went on to become the biggest gainer of the lot, with a 24-hour jump of over 12 percent. Terra Classic (LUNC), on the other hand, became the biggest loser with a 24-hour dip of over 15 percent.
The global crypto market cap stood at $1.65 trillion at the time of writing, registering a 24-hour dip of 5.01 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $43,156.95, registering a 24-hour dip of 4.64 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 38.59 lakh.
Ethereum (ETH) Price Today
ETH price stood at $2,236.07, marking a 24-hour loss of 5.71 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 2.02 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour dip of 10.08 percent, as per CoinMarketCap data, currently priced at $0.08239. As per WazirX, Dogecoin price in India stood at Rs 7.40.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour loss of 10.82 percent. At the time of writing, it was trading at $65.45. LTC price in India stood at Rs 5,890.
Ripple (XRP) Price Today
XRP price stood at $0.5833, seeing a 24-hour dip of 7.35 percent. As per WazirX, Ripple price stood at Rs 52.01.
Solana (SOL) Price Today
Solana price stood at $100.690, marking a 24-hour loss of 6.66 percent. As per WazirX, SOL price in India stood at Rs 8,880.
Top Crypto Gainers Today (January 4)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
Sei (SEI)
- Price: $0.7958
- 24-hour gain: 12.07 percent
Akash Network (AKT)
- Price: $2.55
- 24-hour gain: 8.69 percent
Lido DAO (LDO)
- Price: $3.12
- 24-hour gain: 6.32 percent
Bitget Token (BGB)
- Price: $0.6481
- 24-hour gain: 5.98 percent
Beam (BEAM)
- Price: $0.01853
- 24-hour gain: 4.99 percent
Top Crypto Losers Today (January 4)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
Terra Classic (LUNC)
- Price: $0.0001163
- 24-hour loss: 15.96 percent
Theta Network (THETA)
- Price: $1.18
- 24-hour loss: 15.81 percent
MultiversX (EGLD)
- Price: $58.71
- 24-hour loss: 15.51 percent
SATS (1000SATS)
- Price: $0.0006832
- 24-hour loss: 14.55 percent
Bonk (BONK)
- Price: $0.00001174
- 24-hour loss: 13.58 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Following Matrixport’s report on the anticipated rejection of Bitcoin spot EFT proposals by the SEC, Bitcoin saw a decline after surpassing the $45,000 mark. This news created panic among certain market players, resulting in significant sell-offs. Despite dropping to a minimum below $41,500, Bitcoin quickly bounced back and is currently hovering around $43,000. Alongside Bitcoin, Ethereum and most altcoins experienced a downturn in the past 24 hours. Bitcoin’s support is now positioned at the $43,150 level, while resistance stands at $43,600.”
CoinSwitch Markets Desk noted, “Bitcoin saw a major decline the previous day as we saw the market falling close to 10 percent as well at one point of time before bouncing back a bit. Since BTC did not breach $40k though — the overall structure of BTC still looks bullish. This correction can be attributed to the circulating rumours that the SEC is going to reject the anticipated ETF. While the total liquidations of yesterday remained at more than half a billion dollars, total crypto exchange volumes crossed 1 trillion dollars after 2 years, which shows that big money has started to flow back into the crypto market.”
Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “Bitcoin recently faced a 7% drop in 24 hours, causing major cryptocurrencies such as Ethereum, Solana, XRP, Cardano and Avalanche to follow suit. The decline is attributed to concerns surrounding an imminent decision by the US SEC on Bitcoin ETF instant applications. Initially, bitcoin broke above $45,000 on optimism for the ETF’s approval but reversed as rejection fears grew. Matrixport predicts another drop to $36,000 if the SEC rejects the ETF, citing chairman Gary Gensler’s cautious stance. Despite the near-term bearishness, Matrixport anticipates a recovery above $42,000 by 2024. The uncertain SEC decision is a key factor influencing market sentiment. Technical analysis suggests that Bitcoin’s near-term outlook is cautiously bullish above $42,000, but external factors can quickly change the direction of the market, urging investors to watch key levels and broader indicators.”
Shivam Thakral, CEO of BuyUcoin, said, “The overall crypto market cap dipped by 5% to the $1.65 trillion mark as Bitcoin slipped to the $43,000 level due to spot ETF fears. The report from Matrixport suggested that the SEC will reject the spot Bitcoin ETF application. The news had an immediate impact and the majority of crypto assets slipped in red including Bitcoin and Ethereum. The market is expected to remain volatile in the coming weeks till there is some clarity on ETF approval.”
CoinDCX Research Team told ABP Live, “In the past 24 hours, both BTC and ETH encountered a sharp drop of nearly 10 percent, with a subsequent recovery of about half of the losses. This sudden decline in BTC triggered a more than 20 percent drop in Altcoins within minutes, although some recovered swiftly, like ARB and LDO. The cause of this decline remains uncertain, with some speculating about a report on BTC spot ETF denial from Matrixport, although this information may not be true.”
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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, Cryptocurrency, Insights