Cryptocurrency Price Today: Bitcoin Remains Stable At $49,000, PYTH Becomes Top Gainer

Cryptocurrency price on February 14 quick take: The global market cap jumped to $1.87 trillion.

Bitcoin price stood at $49,468.81 on Wednesday.

Source : Mohamed Hassan/Pixabay

Bitcoin (BTC), the oldest and most valued cryptocurrency in the world, managed to remain stable within the $49,000 range early Tuesday. Other top coins, including the likes of — Ethereum (ETH), Dogecoin (DOGE), Solana (SOL), Ripple (XRP), and Litecoin (LTC) — saw minor losses across the board. The PYTH token emerged as the biggest gainer of the lot, with a 24-hour jump of over 15 percent. BEAM, which was the biggest gainer yesterday, became the biggest loser, with a 24-hour dip of over 7 percent. 

The global crypto market cap stood at $1.85 trillion at the time of writing, registering a 24-hour dip of 0.94 percent.

Bitcoin (BTC) Price Today

Bitcoin price stood at $49,468.81, registering a 24-hour dip of 0.87 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 42.79 lakh.

Ethereum (ETH) Price Today

ETH price stood at $2,630.87, marking a 24-hour dip of 0.60 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 2.29 lakh.

Dogecoin (DOGE) Price Today

DOGE registered a 24-hour loss of 1.19 percent, as per CoinMarketCap data, currently priced at $0.08102. As per WazirX, Dogecoin price in India stood at Rs 7.

Litecoin (LTC) Price Today

Litecoin saw a 24-hour dip of 4.25 percent. At the time of writing, it was trading at $68.98. LTC price in India stood at Rs 6,000.

Ripple (XRP) Price Today

XRP price stood at $0.5247, seeing a 24-hour loss of 1.11 percent. As per WazirX, Ripple price stood at Rs 45.50.

Solana (SOL) Price Today

Solana price stood at $111.60, marking a 24-hour dip of 1.82 percent. As per WazirX, SOL price in India stood at Rs 9,505.43. 

Top Crypto Gainers Today (February 14)

As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:

Pyth Network (PYTH)

Price: $0.6732
24-hour gain: 15.04 percent

Blur (BLUR)

Price: $0.6945
24-hour gain: 9.10 percent

Stacks (STX)

Price: $2.13
24-hour gain: 7.92 percent

Akash Network (AKT)

Price: $3.47
24-hour gain: 6.63 percent

VeChain (VET)

Price: $0.03324
24-hour gain: 5.63 percent

Top Crypto Losers Today (February 14)

As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:

Beam (BEAM)

Price: $0.02756
24-hour loss: 7.23 percent

Astar (ASTR)

Price: $0.1787
24-hour loss: 4.76 percent

SATS (1000SATS)

Price: $0.0004515
24-hour loss: 4.63 percent

Injective (INJ)

Price: $34.52
24-hour loss: 4.50 percent

Ronin (RON)

Price: $2.61
24-hour loss: 4.37 percent

What Crypto Exchanges Are Saying About Current Market Scenario

Mudrex co-founder and CEO Edul Patel told ABP Live, “Following the release of January's US CPI data, which indicated a higher-than-anticipated 3.1% annual inflation rate, Bitcoin is currently consolidating. Despite a dip to $48,000, it has bounced back to $49,500, showcasing a bullish trend. If Bitcoin maintains levels above $49,000 this week, the potential for growth to $50,000 and beyond is likely; otherwise, a correction within the $46,000-$48,000 range might occur.”

CoinSwitch Markets Desk noted, “After crossing $50k early yesterday for a brief period of time, BTC corrected for about 2.5% due to the US CPI data for January where CPI print came higher than expected. The January report showed 3.1% year-on-year inflation as compared to the expectation of 2.9% which directly had an impact on the chances of rate cuts in May. Market participants now see a 34% chance of a rate cut as compared to 51% before this data became public. Since $50k is a major psychological resistance, it would be interesting to see whether BTC corrects further down. On the other hand, as crypto fear and greed hit its highest levels since Nov 2021, we are seeing the crypto market rally. In altcoin news, SOL(-1.89%) briefly overtook BNB as the 4th largest crypto by market cap, with its market being in touching distance of $50 billion. If BTC continues the rally or even starts consolidating near the current price levels, we could see great gains in fundamentally solid altcoins.”

Rajagopal Menon, Vice President, WazirX, said, “On Wednesday, Bitcoin (BTC) dipped below $50,000 in response to a US inflation report that exceeded expectations, affecting projections for interest-rate cuts. The leading cryptocurrency faced a 2% downturn, sliding from an initial $50,000 to $48,700, rebounding to $49,600 afterward. In contrast, SOL exhibited increased resilience, achieving a gain of over 1%. Analysts urged vigilance concerning market optimism, highlighting that the inflation data hindered Bitcoin's rally shortly after surpassing the $50,000 threshold on Monday.”

Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “Bitcoin fell below $49,000 after the release of stronger-than-expected US CPI data, dampening expectations of a rate cut. With US government bond yields and the rising dollar index, Bitcoin has faced selling pressure along with stocks and gold. However, the withdrawal may be short-lived. Spot inflows into Bitcoin ETFs remain strong, suggesting sustainable demand despite macroeconomic uncertainties. Additionally, with the upcoming supply halving and the continued influx of spot ETFs, bullish sentiment remains. Options data indicated rising investor optimism, while potential safe-haven demand amid concerns over US regional banks could further support bitcoin. Thus, declines are seen as buying opportunities, with a retest of the all-time highs at $69,000 likely in the near future.”

Shivam Thakral, CEO of BuyUcoin, said, “The Crypto market experienced a slight correction as Bitcoin made a pull back to $49,000 level. The next few days could see a decrease in Bitcoin Dominance and the start of a bullish trend for Ethereum and Altcoins. At the same time the Bitcoin ETF inflows have continued to increase making the demand for Bitcoin 10x more than the supply coming from miners. We may witness a continuation of the bullish trend until the halving in April this year.” 

CoinDCX Research Team told ABP Live, “In the last 24 hours, the release of US CPI data showing 3.1% versus the forecasted 2.9% caused BTC to drop by almost $2000 to the $48,000 level. However, it managed to recover slightly. This drop also impacted altcoins, which fell by more than 5%, with some recovering afterward. Additionally, NASDAQ experienced a decline of more than 1.5%. Technically, BTC saw a daily bearish candle close after eight consecutive days of green candle closes. While this isn't necessarily a sign of reversal yet, BTC needs to maintain its position above $49,000 and clear the $51,850 level. On the other hand, ETH/BTC bounced back from its support level, suggesting that we may see ETH outperforming BTC for the next few days.”

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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.