Bitcoin (BTC), the oldest and most valued cryptocurrency in the world, appeared to remain stable within the $43,000 range as rumours of exchange-traded funds (ETFs) keep interest of investors piqued. Popular altcoins — including the likes of Ethereum (ETH), Ripple (XRP), Litecoin (LTC), Solana (SOL), and Dogecoin (DOGE) — saw minor gains across the board. The Celestia (TIA) token went on to become the biggest gainer of the lot, with a 24-hour jump of over 18 percent. SEI, on the other hand, became the biggest loser with a 24-hour dip of over 10 percent.
The global crypto market cap stood at $1.66 trillion at the time of writing, registering a 24-hour dip of 0.70 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $43,609.77, registering a 24-hour jump of 0.99 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 39 lakh.
Ethereum (ETH) Price Today
ETH price stood at $2,246.82, marking a 24-hour gain of 0.33 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 jump of 0.70 percent, as per CoinMarketCap data, currently priced at $0.08294. As per WazirX, Dogecoin price in India stood at Rs 7.44.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour loss of 0.34 percent. At the time of writing, it was trading at $65.37. LTC price in India stood at Rs 5,850.
Ripple (XRP) Price Today
XRP price stood at $0.5772, seeing a 24-hour dip of 1.04 percent. As per WazirX, Ripple price stood at Rs 51.16.
Solana (SOL) Price Today
Solana price stood at $101.34, marking a 24-hour gain of 0.28 percent. As per WazirX, SOL price in India stood at Rs 9,100.
Top Crypto Gainers Today (January 5)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
Celestia (TIA)
- Price: $15.35
- 24-hour gain: 18.42 percent
Aptos (APT)
- Price: $10.43
- 24-hour gain: 14.41 percent
Osmosis (OSMO)
- Price: $1.75
- 24-hour gain: 14.18 percent
WOO Network (WOO)
- Price: $0.4256
- 24-hour gain: 11.63 percent
Akash Network (AKT)
- Price: $2.84
- 24-hour gain: 11.59 percent
Top Crypto Losers Today (January 5)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
Sei (SEI)
- Price: $0.7249
- 24-hour loss: 10.13 percent
Mina (MINA)
- Price: $1.24
- 24-hour loss: 8.77 percent
Astar (ASTR)
- Price: $0.1623
- 24-hour loss: 8.55 percent
Bonk (BONK)
- Price: $0.00001141
- 24-hour loss: 6.58 percent
Internet Computer (ICP)
- Price: $13.49
- 24-hour loss: 6.34 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “In the past 24 hours, Bitcoin bounced back to $44,000 following Thursday’s news that the SEC was offering final comments to issuers, possibly paving the way for Bitcoin spot ETF approval. This recovery erased Wednesday’s crash, reinstating optimism in the market. BTC is presently consolidating at $43,500, and the imminent SEC decision may impact Bitcoin’s price trajectory. A successful support level at $43,900, if achieved, could signify an uptrend upon closing above it.”
Parth Chaturvedi, Investments Lead, CoinSwitch Ventures, said, “Recovering from the rumours surrounding spot ETF approvals, Bitcoin (BTC) has surged above $44k in a remarkable recovery. Reports indicate a significant shift in investor sentiment, with over $2 billion flowing into digital asset investment exchange-traded products (ETPs) in 2023 — more than double the previous year’s inflow. This surge suggests heightened anticipation for SEC approval of ETFs. Simultaneously, the fascination with tokenisation is on the rise. Moody’s has bestowed a rating upon the inaugural fund leveraging Standard Chartered’s SC Ventures’ tokenisation platform, Libeara. Launched by SC Ventures in November, Libeara collaborated with FundBridge Capital to facilitate the creation of a tokenised Singapore-dollar government bond fund specifically tailored for accredited investors.”
Rajagopal Menon, Vice President, WazirX, said, “Despite the recent dip in prices of key tokens, the market is showing signs of maturity. The recent dip in market cap has been fuelled by speculations that the Bitcoin ETF application might be rejected, starting a frenzy of long position selling. The market cap is under pressure due to long-term hodlers booking profits in case BTC’s price dips further following the ETF verdict. The risk tolerance level in the market appears to be low at present with the volatility and uncertainty about certain tokens. However, the uncertainty around Bitcoin has been neutralised by a bullish sentiment by institutional investors towards Ethereum.”
Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “Bitcoin jumped to a high of $44,800 on reports that the US SEC plans to approve several spot applications for a Bitcoin Exchange Traded Fund (ETF) and could announce a decision tomorrow. TechCrunch’s Jacquelyn Melinek, citing close sources, shared the news on X, fueling bullish sentiment. Trading at $44,400, the cryptocurrency is up 7 percent from Wednesday’s lows, but still remains 3 percent below recent highs near $46,000. The eagerly awaited approval of spot bitcoin ETFs is seen as a major development, potentially attracting mainstream investors and legitimizing bitcoin as an asset class. Bloomberg’s Eric Balchunas hinted at the upcoming SEC decision, which contributed to bitcoin’s 3.5 percent daily gain and reversed Wednesday’s slide.”
CoinDCX Research Team told ABP Live, “In the last 24 hours, the crypto market showed positive movements, with both BTC and ETH gaining over 2.5 percent. BTC experienced a rebound, reaching the $44,400 resistance level; however, it faced difficulty surpassing and closing above it. Clearing and sustaining this level is essential for establishing a positive momentum in BTC. ETH, trading above $2,250, displays a slightly bearish outlook in its price action and is currently below the 20EMA Daily. To initiate a positive trend, ETH needs to reclaim levels above $2,380. Altcoins are exhibiting mixed trading patterns.”
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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