Cryptocurrency Price Today: Bitcoin Sees Mega Gains As Market Cap Crosses $1.60 Trillion
Cryptocurrency price on December 14 quick take: The global market cap rose to $1.60 trillion, a rare feat.
Bitcoin (BTC), the oldest and most valued cryptocurrency in the world, managed to rise above the $42,000 mark for the second time this week, riding high on the US Federal Reserve’s call to keep interest rates unchanged as well as predicting potential cuts in 2024. Popular altcoins — including the likes of Ethereum (ETH), Solana (SOL), Ripple (XRP), Litecoin (LTC), and Dogecoin (DOGE) — understandably saw comfortable gains across the board. The BONK token went on to become the biggest gainer, with a 24-hour jump of over 26 percent. Aptos (APT), on the other hand, emerged to be the biggest loser, with a 24-hour loss of over 3 percent.
The global crypto market cap stood at $1.60 trillion at the time of writing, registering a 24-hour gain of 4.45 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $42,772, registering a 24-hour jump of 4.80 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 37.60 lakh.
Ethereum (ETH) Price Today
ETH price stood at $2,254.50, marking a 24-hour gain of 4.68 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.96 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour jump of 5.10 percent, as per CoinMarketCap data, currently priced at $0.09578. As per WazirX, Dogecoin price in India stood at Rs 8.36.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour gain of 2.72 percent. At the time of writing, it was trading at $72.95. LTC price in India stood at Rs 6,440.
Ripple (XRP) Price Today
XRP price stood at $0.6244, seeing a 24-hour jump of 3.04 percent. As per WazirX, Ripple price stood at Rs 54.50.
Solana (SOL) Price Today
Solana price stood at $70.24, marking a 24-hour gain of 7.34 percent. As per WazirX, SOL price in India stood at Rs 5,950.
Top Crypto Gainers Today (December 14)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
Bonk (BONK)
Price: $0.00001379
24-hour gain: 26.20 percent
Beam (BEAM)
Price: $0.02453
24-hour gain: 24.47 percent
Injective (INJ)
Price: $31.17
24-hour gain: 22.10 percent
Cardano (ADA)
Price: $0.6523
24-hour gain: 16.73 percent
WOO Network (WOO)
Price: $0.3094
24-hour gain: 15.97 percent
Top Crypto Losers Today (December 14)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
Aptos (APT)
Price: $8.47
24-hour loss: 3.09 percent
UNUS SED LEO (LEO)
Price: $3.65
24-hour loss: 1.99 percent
Cosmos (ATOM)
Price: $11.38
24-hour loss: 0.87 percent
Monero (XMR)
Price: $168.17
24-hour loss: 0.35 percent
Immutable (IMX)
Price: $2.02
24-hour loss: 0.11 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin resurged above the $43,000 level marked by the Federal Reserve's decision to maintain unchanged interest rates and foreshadow potential cuts in the coming year. The US Financial Accounting Standards Board (FASB) added to the positive momentum by introducing new accounting rules, obliging companies like MicroStrategy, Tesla, and Block to appraise their crypto holdings at fair value starting in 2025. This regulatory shift empowers businesses to track real-time fluctuations in asset values. BTC faces resistance at $44,700 and finds support at $40,700. Meanwhile, Ethereum surpassed its $2,250 resistance, opening the door for a potential retest at $2,403. The overall market sentiment remains bullish, with major cryptocurrencies experiencing gains.”
CoinSwitch Markets Desk noted, “For Bitcoin, the markets are expecting that the bullish momentum is back. Some analysts are predicting a rally to $50k to capture retail attention before cooling down. In parallel, Cardano is on the rise as it is up by more than 50 percent in the last 7 days. As per blockchain research firm Santiment, the primary reason for this rally is ‘Supply Distribution’ where smallholders are selling while the whales are purchasing. The current ADA rally shows the market is increasingly becoming bullish for altcoins as well and the well-awaited ‘altseason’ might come sooner than later. Another popular crypto WorldCoin (WLD) garnered more eyeballs as it announced its partnership with Minecraft, Reddit, Telegram, and Spotify. WLD is OpenAI’s Sam Altman’s crypto project where a unique ID of each person is created using orbs to distinguish humans and bots.”
Rajagopal Menon, Vice President, WazirX, said, “Bitcoin (BTC) rebounded to $43,000, marking a nearly 5 percent rise from a recent dip below $41,000 after Monday's flash crash. The crypto market surged in tandem, boosted by positive sentiment from the Federal Reserve's indication of upcoming interest rate cuts. Notably, large-cap tokens like Avalanche (AVAX), Cardano (ADA), and Injective (INJ) saw impressive gains, nearing 10 percent. Analysts attribute the optimism to expectations of increased disposable income and expanded investment across various asset classes.”
Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “Bitcoin, the leading cryptocurrency market, is facing volatility around $42,000. Resistance appears at $42,811, followed by $43,753 and a sturdy barrier at $44,838. Immediate support is $41,728, with safety nets of $40,744 and $39,797. Technical signals show an RSI of 40, indicating a potential consolidation. The 50-day EMA at $42,119 indicates a preliminary bullish bias. Chart patterns show indecision near the pivot, with Doji candles indicating a potential upside move. Bitcoin's trend appears neutral with a cautious bullish bias above $42,000. In the short term, it may challenge $42,811 with potential for higher levels under favourable market sentiment and macroeconomic factors such as Federal Reserve decisions.”
Shivam Thakral, CEO of BuyUcoin, said, “The overall crypto market cap surged above the $1.6 trillion mark led by crypto heavyweights Bitcoin and Ethereum. Bitcoin is hovering close to the $43,000 mark while Ethereum is close to the $23,00 level, both witnessed a significant jump of 4.35 percent and 3.67 percent in 24 hours. Fed kept the interest rate unchanged and hinted that it could go for several rate cuts next year, bringing cheer to the trading community as it will boost liquidity in the market and spark economic activity in several sectors. The market is expected to sustain the momentum in the coming weeks.”
CoinDCX Research Team told ABP Live, “Over the last 24 hours, the market displayed positive momentum as both BTC and ETH saw a rally of approximately 3%. BTC reached the $43,000 level and is currently holding just below it, with the 20 EMA D level playing a crucial role. ETH is positioned between two significant levels at $2,130 and $2,450. The monthly US CPI remaining unchanged is considered positive news, prompting a favourable response from BTC and ETH. This recovery could reflect the market's anticipation of the potential approval of a spot BTC exchange-traded fund (ETF) in January 2024, aligning with notable cash inflows from institutional investors.”
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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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