Cryptocurrency Price Today: Bitcoin On Freefall, Dips Below $63,000 Amid Increased Selloffs
Cryptocurrency price on April 16 quick take: The global market cap dipped to $2.27 trillion.
Bitcoin (BTC), the world’s oldest and most valued cryptocurrency, dipped below the $63,000 mark early Tuesday amid escalating tension between Iran and Israel. Other popular altcoins — including the likes of Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Solana (SOL), and Litecoin (LTC) — landed in the reds as the overall Market Fear & Greed Index stood at 60 (Greed) out of 100, as per CoinMarketCap data. The CORE token emerged as the biggest gainer of the lot, with a 24-hour jump of over 59 percent. SEI became the biggest loser, with a 24-hour dip of over 10 percent.
The global crypto market cap stood at $2.27 trillion at the time of writing, registering a 24-hour dip of 3.75 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $62,422.01, registering a 24-hour dip of 3.83 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 59.56 lakh.
Ethereum (ETH) Price Today
ETH price stood at $3,026.41, marking a 24-hour dip of 3.76 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 2.90 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour loss of 3.11 percent, as per CoinMarketCap data, currently priced at $0.1531. As per WazirX, Dogecoin price in India stood at Rs 14.59.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour dip of 2.73 percent. At the time of writing, it was trading at $76.38. LTC price in India stood at Rs 7,178.54.
Ripple (XRP) Price Today
XRP price stood at $0.4826, seeing a 24-hour loss of 3.24 percent. As per WazirX, Ripple price stood at Rs 45.55.
Solana (SOL) Price Today
Solana price stood at $132.79, marking a 24-hour dip of 10.63 percent. As per WazirX, SOL price in India stood at Rs 12,602.74.
Top Crypto Gainers Today (April 16)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
Core (CORE)
Price: $2.30
24-hour gain: 58.74 percent
OKB (OKB)
Price: $59.97
24-hour gain: 13.46 percent
Monero (XMR)
Price: $119.57
24-hour gain: 0.15 percent
Quant (QNT)
Price: $102.25
24-hour gain: 0.09 percent
dogwifhat (WIF)
Price: $2.83
24-hour gain: 15.69 percent
Top Crypto Losers Today (April 16)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
Sei (SEI)
Price: $0.4721
24-hour gain: 10.64 percent
Solana (SOL)
Price: $132.70
24-hour gain: 10.40 percent
ImmutableX (IMX)
Price: $1.90
24-hour gain: 10.18 percent
Ethena (ENA)
Price: $1.01
24-hour gain: 9.96 percent
Starknet (STRK)
Price: $1.29
24-hour gain: 9.89 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Following Hong Kong's approval of spot ETFs, Bitcoin surged to $66,500 before stabilizing around $63,000 amidst escalating tensions between Iran and Israel. Despite consolidation, there's noticeable buying activity at lower levels, suggesting potential sideways movement until Bitcoin gains sufficient momentum. Key support rests at $60,775, while resistance is at $66,900. Ethereum, meanwhile, is trading at $3,100, with bullish prospects contingent on surpassing $3,200 to target $3,600.”
CoinSwitch Markets Desk noted, “In a great catalyst to crypto, several Bitcoin and Ethereum ETF applicants in Hong Kong have announced that their applications have been accepted. However, the securities and futures commission of Hong Kong has not yet made any official announcement. Bitcoin tested the highs of $66.8k with this news before correcting again to the $63k support, as S&P500, one of the top us stock market index, fell by 1.2% amidst increasing tensions in the middle east.”
Rajagopal Menon, Vice President, WazirX, said, “The crypto market continues to face turmoil amidst escalating Middle East tensions. Iran's retaliatory strikes on Israel sparked a 15% drop in total market cap, with many coins facing double-digit losses. Bitcoin, now near $63,000, fell nearly 3% in 24 hours. Analysts speculate on an altcoin season as Bitcoin dominance wavers. Hong Kong's nod to Bitcoin and Ethereum ETFs hints at a potential market resurgence, though awaiting official confirmation from regulators.”
Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “Bitcoin rose to $64,950 amid tensions in the Middle East, yet fell more than 2% on a shift in expectations of a Federal Reserve rate hike. Gold rose on geopolitical concerns while Asian markets fell. The IRS warns of rising cryptocurrency tax evasion ahead of tax deadline and emphasizes accurate reporting to avoid legal consequences. Bitcoin dominated in 2024, rising 54% and outperforming most of the top 50 cryptocurrencies with the potential to reach $80,000 if it goes above $60,000. However, recent analysis suggests a bearish trend for Bitcoin with key pivot points at $66,117 and immediate resistance levels at $68,729, $71,532 and $73,698. Below $66,117, the trend remains bearish.”
Shivam Thakral, CEO of BuyUcoin, said, “The largest cryptocurrency is retesting its recent support around $62,000. The approval of Bitcoin and Ether ETF by the Hong Kong regulator marked a positive momentum for Bitcoin yesterday which could be even stronger once the institutional demand builds up for Bitcoin in the Asia region.”
CoinDCX Research Team told ABP Live, “In the last 24 hours, both BTC and ETH experienced consolidation with a slight decline. Technically, BTC dropped to nearly $62,000, and there's uncertainty regarding its direction. The ongoing war situation and the upcoming halving in four days contribute to the market's volatility. ETH faced a similar scenario, although technical indicators were positive. It's currently a wait-and-watch situation amidst various ongoing events. However, the outlook for the next few months remains bullish due to the anticipated supply shock from the BTC halving.”
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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.
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