Bitcoin (BTC), the world’s oldest and most valued cryptocurrency, managed to remain stable within the $70,000 range on Wednesday. It is largely believed that the London Stock Exchange’s friendly stance on Bitcoin and Ethereum exchange-traded notes (ETNs) and their upcoming launch on March 28 translated into the recent rally. Other popular altcoins — including the likes of Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Solana (SOL), and Litecoin (LTC) — performed positively as well. Memecoin dogwifhat (WIF) became the biggest gainer of the lot, with a 24-hour jump of over 19 percent. KuCoin Token (KCS) became the biggest loser of the lot, with a 24-hour dip of over 13 percent.
The global crypto market cap stood at $2.66 trillion at the time of writing, registering a 24-hour dip of 0.07 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $70,349.99, registering a 24-hour dip of 0.20 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 60.76 lakh.
Ethereum (ETH) Price Today
ETH price stood at $3,604.53, marking a 24-hour loss of 0.63 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 3.10 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour jump of 3.32 percent, as per CoinMarketCap data, currently priced at $0.1832. As per WazirX, Dogecoin price in India stood at Rs 15.76.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour gain of 6.80 percent. At the time of writing, it was trading at $96.80. LTC price in India stood at Rs 8,201.03.
Ripple (XRP) Price Today
XRP price stood at $0.6315, seeing a 24-hour loss of 1.97 percent. As per WazirX, Ripple price stood at Rs 54.98.
Solana (SOL) Price Today
Solana price stood at $189.95, marking a 24-hour dip of 0.87 percent. As per WazirX, SOL price in India stood at Rs 16,621.79.
Top Crypto Gainers Today (March 27)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
dogwifhat (WIF)
Price: $3.25
24-hour gain: 19.92 percent
Sui (SUI)
Price: $2.07
24-hour gain: 18.06 percent
Aptos (APT)
Price: $18.55
24-hour gain: 8.41 percent
Mantle (MNT)
Price: $0.9478
24-hour gain: 8.07 percent
Shiba Inu (SHIB)
Price: $0.00003114
24-hour gain: 7.66 percent
Top Crypto Losers Today (March 27)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
KuCoin Token (KCS)
Price: $12.45
24-hour loss: 13.19 percent
Bittensor (TAO)
Price: $584.86
24-hour loss: 8.07 percent
Toncoin (TON)
Price: $4.96
24-hour loss: 7.18 percent
Akash Network (AKT)
Price: $5.41
24-hour loss: 6.91 percent
Kaspa (KAS)
Price: $0.1376
24-hour loss: 6.22 per cent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin experienced balanced buying and selling activity over the past day, resulting in price fluctuations but ultimately settling around $70,500. The announcement from the London Stock Exchange about launching Bitcoin and Ethereum exchange-traded notes (ETNs) starting March 28th contributed to the positive market sentiment. Bitcoin’s next resistance level is at $70,979, with the next support level at $68,955. Ethereum also consolidated around $3,600 in the last 24 hours. The prevailing sentiment in the market is extreme greed.”
CoinSwitch Markets Desk noted, “While BTC bulls have been able to manage BTC prices above $70k after a retest of $69k as support, several analysts are predicting that a short squeeze might be on the cards as well. However, Ethereum, in comparison to BTC, has been quite weak as ETH/BTC chart is unable to bounce back hard from the 0.05 mark with the odds of ETF approval for Ethereum also reducing for May. Yesterday, the biggest altcoin loser remained Fantom’s native token FTM, as after showing 200% growth in two weeks, people seem to be booking some profits on the token. However, with its sonic upgrade scheduled to release in the next few weeks, it will be interesting to see if Fantom could maintain its hype.”
Rajagopal Menon, Vice President, WazirX, said, “Bitcoin’s ascent persists post $70k milestone attainment, with anticipations of an imminent rally as pre-halving retracement halts. Selling pressure intensifies for short sellers amidst rising prices, yet heightened liquidity is anticipated due to ETF inflows. The $80k milestone appears achievable under current conditions. Ethereum saw a peak at $3,680 before a minor correction, with bulls maintaining dominance amid upbeat market sentiment reflected in its moving averages.”
Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “Spot bitcoin ETFs saw a fortune turn with net inflows of $15.7 million, snapping a five-day streak of outflows, according to data from SoSo Value. Fidelity’s FBTC led with inflows of $261 million, contrasting with Grayscale’s GBTC outflow of $350 million. Despite the recent stagnation of assets under management at $30.62 billion, renewed investor confidence is evident. The London Stock Exchange’s plan to introduce BTC and ETH ETNs in May accelerated Bitcoin’s rise above $71,000. ETFs and ETNs are structurally different; however, both offer asset exposure. QCP Capital saw increasing demand for BTC allocations and structured products and expected Bitcoin’s momentum to continue, potentially surpassing $100,000, attractive due to its independent returns amid market unpredictability.”
Shivam Thakral, CEO of BuyUcoin, said, “Bitcoin is holding the $70,000 level strongly as it tries to break the local resistance around $73,000. Since the beginning of the week, a lot of new Bitcoin ETFs have emerged suggesting a bullish sentiment in the crypto market. The London Stock Exchange has announced to make Bitcoin and Ethereum available for trading as Exchange Traded Notes (ETN) beginning on May 28, 2024. These new ETFs and ETNs could push the Bitcoin price to a new ATH sooner than expected.”
CoinDCX Research Team told ABP Live, “In the past day, the crypto market experienced significant volatility, initially showing strength but turning bearish when the US market opened. Both BTC and ETH dipped by approximately 2% during the US market session, but have since recovered. The decline in BTC caused a drop in altcoins. Overall, the trend remains bullish, with positive ETF inflows after a few days of outflows, indicating continued interest. Tomorrow’s US final GDP (QoQ) announcement may introduce further volatility to the market.”
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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.