Cryptocurrency Price Today: Bitcoin Remains Stable At $43,000, Ronin Becomes Biggest Gainer
Cryptocurrency price on February 5 quick take: The global market cap dipped to $1.63 trillion.
Bitcoin (BTC), the oldest and most valued cryptocurrency in the world, manage to remain above the $43,000 mark over the weekend. Other top coins, including the likes of — Ethereum (ETH), Dogecoin (DOGE), Solana (SOL), Ripple (XRP), and Litecoin (LTC) — saw minor gains and losses across the board. The Ronin (RON) token emerged to be the biggest gainer of the lot, with a 24-hour jump of over 13 percent. MANTA, on the other hand, became the biggest loser, with a 24-hour dip of nearly 8 percent.
The global crypto market cap stood at $1.63 trillion at the time of writing, registering a 24-hour gain of 0.82 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $42,651.90, registering a 24-hour dip of 0.81 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 37.64 lakh.
Ethereum (ETH) Price Today
ETH price stood at $2,292.04, marking a 24-hour dip of 0.39 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 2.04 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour dip of 0.98 percent, as per CoinMarketCap data, currently priced at $0.07814. As per WazirX, Dogecoin price in India stood at Rs 6.95.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour dip of 1.56 percent. At the time of writing, it was trading at $67.10. LTC price in India stood at Rs 5,883.83.
Ripple (XRP) Price Today
XRP price stood at $0.5056, seeing a 24-hour loss of 2.26 percent. As per WazirX, Ripple price stood at Rs 44.99.
Solana (SOL) Price Today
Solana price stood at $96.10, marking a 24-hour dip of 2.05 percent. As per WazirX, SOL price in India stood at Rs 8,494.
Top Crypto Gainers Today (February 5)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
Ronin (RON)
Price: $3.42
24-hour gain: 13.54 percent
Flare (FLR)
Price: $0.03159
24-hour gain: 10.67 percent
Pendle (PENDLE)
Price: $3.09
24-hour gain: 4.69 percent
Internet Computer (ICP)
Price: $12.96
24-hour gain: 2.24 percent
Chainlink (LINK)
Price: $18.21
24-hour gain: 1.87 percent
Top Crypto Losers Today (February 5)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
Manta Network (MANTA)
Price: $2.55
24-hour loss: 7.58 percent
Jupiter (JUP)
Price: $0.5316
24-hour loss: 6.79 percent
Render (RNDR)
Price: $4.47
24-hour loss: 5.80 percent
Conflux (CFX)
Price: $0.1997
24-hour loss: 5.16 percent
ORDI (ORDI)
Price: $52.76
24-hour loss: 4.87 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin maintained its position at the $42,000 level over the weekend, influenced by a Federal Reserve adopting a hawkish stance and Bitcoin outflows from Grayscale. A correction ensued as Bitcoin couldn't breach the $43,800 level, but bullish support remained, holding Bitcoin above the $40,000 mark. Despite a 35 percent decrease from its peak, Bitcoin has shown an 83 percent increase since February of the previous year. Meanwhile, Ethereum is observed trading at $2,200.”
Parth Chaturvedi, Investments Lead, CoinSwitch Ventures, said, “The crypto market sailed through quiet waters over the weekend. Bitcoin witnessed a rang-bound performance hovering around $43k — a level which seems to be building as a support. Similarly, Ethereum has been consolidating near $2.3k. Investor sentiment continues to be bullish, as Crypto Fear & Greed Index maintained a score of 60/100 over the weekend.”
Rajagopal Menon, Vice President, WazirX, said, “Bitcoin’s investor sentiment remains a mixed bag, with the Relative Strength Index at 50, indicating neutrality. The MACD Level at 36 signals a 'Buy,' while the Stochastic %K at 41 and the Average Directional Index at 13 point towards a neutral outlook. In other developments, Hong Kong's FirstDigitalUSD stablecoin has entered the top 5 by volume, and Chainlink experiences notable market investment, seeing a 12% surge in the last seven days.”
Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “Bitcoin trading volume reaching $8 billion raises questions about the right time to buy, with Bitcoin at $43,000 and a modest 0.50 percent drop on Sunday. Genesis is seeking to sell the trust's assets in the midst of its bankruptcy proceedings, potentially affecting market sentiment and bitcoin prices. LPL Financial's strict due diligence prevents the adoption of Bitcoin ETFs, potentially delaying significant investment. Additionally, the US Department of Justice's crackdown on illegal cryptocurrency mining in a school district may affect public perception. Bitcoin's technical outlook shows critical resistance and support levels, with indicators pointing to neutral market sentiment but a potential bearish trend below $42,885.”
Shivam Thakral, CEO, BuyUcoin, said, "The crypto market has once again shown a weakness with Bitcoin hovering around the $42,000 support amid the failure of any breakout over the weekend. A breakout above $44,000 is still expected and could potentially mark the beginning of a rally towards new yearly highs. The Bitcoin halving, which occurs every 4 years, is less than 70 days away, has historically pushed Bitcoin and the total market cap to new highs."
CoinDCX Research Team told ABP Live, “Over the weekend, the crypto market had a small dip. BTC stayed in the range of $41,000 to $45,000, showing some support from the moving averages. Clearing $45,000 could bring a strong upward trend. Positive factors like the halving make the outlook for BTC positive. ETH also had a mild dip and is in the range of $2,175 to $2,400. It's below key moving averages, but developments like the Dencun upgrade and speculation on an ETH spot ETF approval give positive sentiments.”
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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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