Cryptocurrency Price Today (December 16): Bitcoin Continues Rally, Climbs Above $104,000
Cryptocurrency price on December 16 quick take: The global market cap rose to $3.69 trillion.
Bitcoin (BTC) continued on its upward trend and managed to climb above the $104,750 mark early Monday. US President-elect Donald Trump’s plan to designate BTC as a reserve asset seems to be driving the latest rally. Other popular altcoins — including the likes of Ethereum (ETH), Solana (SOL), Ripple (XRP), and Litecoin (LTC) — saw a mix of minor gains and dips across the board as the overall Market Fear & Greed Index stood at 80 (Extreme Greed) out of 100, as per CoinMarketCap data. The Fantom (FTM) token became the sole top gainer, with a 24-hour jump of nearly 14 percent. KuCoin Token (KCS) was the biggest loser today, with a 24-hour dip of nearly 7 percent.
The global crypto market cap stood at $3.69 trillion at the time of writing, registering a 24-hour gain of 1.52 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $104,622.36, registering a 24-hour jump of 2.28 percent, as per CoinMarketCap. According to Indian exchanges, BTC price stood at Rs 88.82 lakh.
Ethereum (ETH) Price Today
ETH price stood at $3,961.29, marking a 24-hour jump of 1.68 percent at the time of writing. Ethereum price in India stood at Rs 3.36 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour gain of 1.43 percent, as per CoinMarketCap data, currently priced at $0.4039. Dogecoin price in India stood at Rs 34.34.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour jump of 3.71 percent. At the time of writing, it was trading at $122.12. LTC price in India stood at Rs 10,359.64.
Ripple (XRP) Price Today
XRP price stood at $2.41, seeing a 24-hour loss of 1.15 percent. Ripple price in India stood at Rs 204.20.
Solana (SOL) Price Today
Solana price stood at $221.79, marking a 24-hour jump of 0.44 percent. SOL price in India stood at Rs 19,029.16.
Top Crypto Gainers Today (December 16)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
Fantom (FTM)
Price: $1.41
24-hour gain: 13.13 percent
Virtuals Protocol (VIRTUAL)
Price: $2.78
24-hour gain: 12.63 percent
Ondo (ONDO)
Price: $2.07
24-hour gain: 12.23 percent
Helium (HNT)
Price: $10.01
24-hour gain: 11.03 percent
Stacks (STX)
Price: $2.47
24-hour gain: 9.55 percent
Top Crypto Losers Today (December 16)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
KuCoin Token (KCS)
Price: $12.27
24-hour loss: 6.50 percent
Curve DAO Token (CRV)
Price: $1.10
24-hour loss: 4.26 percent
Kaia (KAIA)
Price: $0.2859
24-hour loss: 3.52 percent
Chainlink (LINK)
Price: $28.54
24-hour loss: 2.70 percent
Hedera (HBAR)
Price: 0.2853
24-hour loss: 2.58 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin hit a new all-time high of $106,500 with Trump's plan to issue an order designating Bitcoin as a reserve asset on his first day in office. While BTC has corrected to $104,200 from its high, the bullish momentum remains strong, with the Fear and Greed Index climbing back to 83. Bitcoin ETFs saw $428 million in net inflows on the weekend adding strength to BTC’s price. At present, BTC faces resistance at $106,100 with support at $99,700.”
CoinSwitch Markets Desk noted, “As BTC touched the all time high again of 106k after 10 days of consolidation, Bitcoin seems to have marked its support over 2 trilion dollar market cap - making it the 7th largest asset in the world by market cap with Amazon and Google being less than 15% away.”
Avinash Shekhar, Co-founder & CEO, Pi42, said, “Bitcoin rocketed to yet another high of $106,533, fueled by a lot of speculation about the impending establishment of a national reserve of Bitcoin, which has been backed by President-elect Donald Trump. Optimism for bullish momentum remains firm as the market awaits a 25-basis point cut by the Federal Reserve, triggering high overtures in the market. In the derivatives market, open interest in Bitcoin futures and options had hit record highs, indicative of an overwhelmingly bullish sentiment. The market can see short-term consolidations before a new bull run as selling volumes can outpace buying volumes.”
Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “Bitcoin bulls are pushing BTC towards its all-time high of $104,088, with analysts bullish on continued upward momentum. VanEck predicts that the bull market will peak in Q1 2025, followed by a 30% withdrawal in Bitcoin and up to 60% in altcoins. Danny Marques predicts that Bitcoin could reach $173,646 to $461,135 in 2025 without macroeconomic downturns. Ether (ETH), Chainlink (LINK), Aave (AAVE) and BGB are poised to break out if Bitcoin holds above $104,088. Bitcoin RSI is showing weakening momentum, but a sustained break above this level could push BTC towards $113,331 and $125,000.”
Shivam Thakral, CEO of BuyUcoin, said, “In the last 24 hours, Bitcoin has surged to an unprecedented high of $106,554, marking a significant milestone. This remarkable surge is largely attributed to recent comments from U.S. President-elect Donald Trump, who confirmed plans to explore Bitcoin as a potential reserve asset for the United States. The announcement has sparked interest and optimism in the market, contributing to a nearly 5.56% increase over the past week.”
Sumit Gupta, co-founder, CoinDCX, said, “Bitcoin has reached a new milestone, surpassing $106,000 for the first time, driven by growing investor optimism fueled by President-elect Donald Trump's potential bitcoin strategic reserve fund and the continued surge of institutional interest, including the Nasdaq inclusion of MicroStrategy. This marks a historic moment in the crypto's ascent, signaling broader acceptance and confidence in its role as a store of value in the digital age.”
Subscribe And Follow ABP Live On Telegram: t.me/officialabplive
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.
Trending News
Top Headlines
