Cryptocurrency Price Today: Bitcoin Dips To $42,000, Toncoin Becomes Biggest Gainer

Cryptocurrency price on January 15 quick take: The global market cap dipped to $1.68 trillion.

Bitcoin price stood at $42,544.43 on Monday.

Source : Getty

Bitcoin (BTC), the oldest and most valued cryptocurrency in the world, dipped down to the $42,000 mark over the weekend as the excitement from the Bitcoin spot exchange-traded funds (ETFs) fizzle out. As per CoinMarketCap data, the market Fear & Greed Index stood at 59 (neutral) at the time of writing. Popular altcoins — including the likes of Ethereum (ETH), Dogecoin (DOGE), Solana (SOL), Litecoin (LTC), and Ripple (XRP) — registered minor losses across the board. Toncoin (TON) emerged to be the biggest gainer today, with a 24-hour jump of nearly 12 percent. Optimism (OP) became the biggest loser, with a 24-hour dip of over 7 percent. 

The global crypto market cap stood at $1.68 trillion at the time of writing, registering a 24-hour dip of 0.09 percent.

Bitcoin (BTC) Price Today

Bitcoin price stood at $42,544.43, registering a 24-hour dip of 0.11 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 37.72 lakh.

Ethereum (ETH) Price Today

ETH price stood at $2,507.69, marking a 24-hour dip of 1.43 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 2.23 lakh.

Dogecoin (DOGE) Price Today

DOGE registered a 24-hour jump of 0.82 percent, as per CoinMarketCap data, currently priced at $0.08133. As per WazirX, Dogecoin price in India stood at Rs 7.19.

Litecoin (LTC) Price Today

Litecoin saw a 24-hour gain of 0.01 percent. At the time of writing, it was trading at $71.33. LTC price in India stood at Rs 6,136.28.

Ripple (XRP) Price Today

XRP price stood at $0.5864, seeing a 24-hour jump of 2.30 percent. As per WazirX, Ripple price stood at Rs 51.15.

Solana (SOL) Price Today

Solana price stood at $95.91, marking a 24-hour dip of 0.85 percent. As per WazirX, SOL price in India stood at Rs 8,569.71. 

Top Crypto Gainers Today (January 15)

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

Toncoin (TON)

Price: $2.34
24-hour gain: 11.60 percent

Chainlink (LINK)

Price: $15.66
24-hour gain: 8.39 percent

Tezos (XTZ)

Price: $1.15
24-hour gain: 5.40 percent

Sui (SUI)

Price: $1.31
24-hour gain: 5.35 percent

Conflux (CFX)

Price: $0.1925
24-hour gain: 5.17 percent

Top Crypto Losers Today (January 15)

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

Optimism (OP)

Price: $3.51
24-hour loss: 7.41 percent

Mantle (MNT)

Price: $0.7165
24-hour loss: 7.13 percent

SATS (1000SATS)

Price: $0.0006294
24-hour loss: 6.70 percent

Helium (HNT)

Price: $7.32
24-hour loss: 5.66 percent

WOO (WOO)

Price: $0.4081
24-hour loss: 4.83 percent

What Crypto Exchanges Are Saying About Current Market Scenario

Mudrex co-founder and CEO Edul Patel told ABP Live, “Following a week where Bitcoin touched $49,000, it experienced a setback but has shown a slight recovery in the past 24 hours, sitting just above $42,400. Despite widespread expectations of the ETF approval boosting Bitcoin purchases, the market seemed more eager to sell the news for profit-taking. Currently, Bitcoin is positioned just above its support level of $42,272, and its resistance level of $45,557 is still quite distant. While Ethereum initially witnessed major gains post the spot ETF approval, it now seems to be undergoing some price correction as well. Overall, the market appears to have shifted to a more neutral sentiment after a period of greed.”

Parth Chaturvedi, Investments Lead, CoinSwitch Ventures, noted, “BTC (-1.1% in the last 24 hours) seems to have undergone a ‘sell-the-news’ pressure over the weekend as investors decided to book profits after spot BTC ETFs approvals. Currently trading around $42k, there is a possibility of continued selling pressure for BTC for a few days if it goes lower than $41k. However, the general price trajectory shows a consolidation with a bullish pattern. Amidst mixed views, analysts continue to predict an upward trend with BTC ETFs-induced institutional inflows and long-term investors looking forward to the halving event. In fact, after Blackrock’s spot BTC ETF offering, Larry Fink, the CEO, is now considering an equivalent product for ETH (-2.6%).”

Rajagopal Menon, Vice President, WazirX, said, “Ethereum has demonstrated a consistent price trend over the past week, maintaining proximity to its recent support levels around $2500. This trend is largely attributed to optimism surrounding the approval of a spot Ethereum ETF. In contrast, Bitcoin has not observed any significant price surges following the approval of its ETF, which is viewed as a positive indicator. The market has experienced pressure, approaching oversold conditions, as many investors took profits leading up to the ETF approval event.”

Shivam Thakral, CEO of BuyUcoin, said, “The overall crypto market cap fell to $1.67 trillion mark after Bitcoin slipped to $42,000 level due to heavy liquidations of future options. Ethereum, the largest altcoin, is trading around $2,500 mark after it breached $2,600 level last week. The Bitcoin traders liquidated their positions as they were not able to meet the margin requirements as Bitcoin process went up and then retreated in a short span after Bitcoin ETF listings. The market is expected to remain volatile in the coming weeks owing to the macroeconomic conditions.” 

CoinDCX Research Team told ABP Live, “Over the weekend, the crypto market was quiet with low trading volume. From a technical perspective, BTC experienced a drop to $42,000 levels after reaching a new high at $49,000. Currently, it appears bearish to neutral as it is trading below the 20 EMA Daily. The current level and the $41,000 level are crucial for BTC to maintain; otherwise, a bearish scenario could unfold. ETH has showcased strength relative to BTC in recent days, following a substantial rally. Currently, ETH is consolidating, which is considered a healthy pattern. The key level for ETH is $2,450, and it needs to remain above this level. The local resistance for ETH is at $2,660.”

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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.