Cryptocurrency Price Today: Bitcoin Remains Stable, Flare Gains Nearly 35%
Cryptocurrency price on January 16 quick take: The global market cap dipped to $1.68 trillion.
Bitcoin (BTC), the oldest and most valued cryptocurrency in the world, briefly breached the $43,000 mark early Tuesday, but dipped down to the $42,000 range at the time of writing. While the excitement from Bitcoin spot exchange-traded funds (ETFs) seems to have fizzled out of late, BTC and most other coins are managing to stay largely stable, without worrisome fluctuations. The Flare (FLR) token became the biggest gainer of the lot, with a 24-hour jump of nearly 35 percent. Aptos (APT), on the other hand, became the biggest loser, with a 24-hour dip of over 5 percent.
The global crypto market cap stood at $1.68 trillion at the time of writing, registering a 24-hour gain of 0.31 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $42,894.65, registering a 24-hour jump of 0.83 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 37.73 lakh.
Ethereum (ETH) Price Today
ETH price stood at $2,535.65, marking a 24-hour gain of 1.32 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 2.22 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour dip of 0.02 percent, as per CoinMarketCap data, currently priced at $0.08112. As per WazirX, Dogecoin price in India stood at Rs 7.10.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour loss of 1.81 percent. At the time of writing, it was trading at $69.91. LTC price in India stood at Rs 6,281.96.
Ripple (XRP) Price Today
XRP price stood at $0.5773, seeing a 24-hour dip of 1.36 percent. As per WazirX, Ripple price stood at Rs 50.43.
Solana (SOL) Price Today
Solana price stood at $96.04, marking a 24-hour jump of 0.21 percent. As per WazirX, SOL price in India stood at Rs 8,445.
Top Crypto Gainers Today (January 16)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
Flare (FLR)
Price: $0.02342
24-hour gain: 34.72 percent
Sei (SEI)
Price: $0.8602
24-hour gain: 16.99 percent
Blur (BLUR)
Price: $0.6629
24-hour gain: 15.89 percent
Mina (MINA)
Price: $1.29
24-hour gain: 8.68 percent
Injective (INJ)
Price: $40.89
24-hour gain: 8.39 percent
Top Crypto Losers Today (January 16)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
Aptos (APT)
Price: $9.53
24-hour loss: 5.78 percent
Ethereum Name Service (ENS)
Price: $23.53
24-hour loss: 4.69 percent
Bonk (BONK)
Price: $0.00001377
24-hour loss: 4.40 percent
dYdX (ETHDYDX)
Price: $2.82
24-hour loss: 4.11 percent
Akash Network (AKT)
Price: $2.89
24-hour loss: 3.39 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin underwent notable fluctuations in the past 24 hours, initially witnessing a rapid ascent beyond $43,300, but subsequent profit booking led to a quick descent to just above $42,600. The current price of Bitcoin positions it almost precisely between its next resistance level at $43,572 and the previous support level at $41,882. Meanwhile, Ethereum had its own share of ups and downs, with alternating waves of buying and selling influencing price changes in the last 24 hours. Overall, the recent price action marked a shift in market sentiment towards the greed end of the spectrum.”
CoinSwitch Markets Desk noted, “BTC prices continue to trade in a narrow range. A lot of retail traders still seem to be trapped in their “short term” positions as BTC failed to cross the esteemed 50k USD mark even as BlackRock continued to increase their BTC holdings to more than 11,000 BTC in only two days. At this pace, Blackrock could soon become the world’s largest holder of Bitcoin. The last line of defense for Bitcoin lies around 38k USD although a fall to early $30k could lead retailers to sell their BTC in fear. With BTC halving just three months away, we are yet to see the major catalyst come into play for Bitcoin’s positive price action.”
Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “Bitcoin's recent drop below $42,000 reflects a bearish turn, triggered by waning enthusiasm for Bitcoin ETFs. Uncertainty looms amid a slightly lower global crypto market at $1.68 trillion, down 0.09% in 24 hours. The Crypto Fear and Greed Index moved to “Neutral”, prompting cautious trading and increased selling. Bitcoin's price drop from nearly $49,000 to $42,600 represents a 0.6% daily drop and a 3.5% weekly drop. With the overall shrinking of the crypto market, Bitcoin's dominance fell to 47.6%. Despite the SEC's delays in approving Bitcoin ETFs, $GFOX is proving to be an attractive investment with its unique characteristics that offer diversification amid market uncertainty. Supported by a triple bottom pattern around $41,475, Bitcoin price hints at a potentially bullish reversal and highlights the importance of watching technical thresholds.”
Shivam Thakral, CEO of BuyUcoin, said, “The overall crypto market cap jumped to the $1.68 trillion mark as Bitcoin charted a strong recovery path after slipping to $41,700 during the day trade. Bitcoin has received strong support at the $41,000 mark and we may see a strong recovery in Bitcoin prices from here owing to the macroeconomic factors. We are witnessing the normalisation of digital assets as the euphoria around Bitcoin ETF is settling down.”
CoinDCX Research Team told ABP Live, “BTC is maintaining its position, hovering slightly below $43,000. Key levels for BTC include $42,000 as support and $44,000 as resistance. ETH is gradually consolidating in a sideways trend after a recent rally, holding above $2,500 and the 20 EMA Daily. Notably, BTC dominance is declining, while ETH dominance is rising, suggesting a rotation of funds from BTC to ETH. This shift became more prominent after the BTC spot ETF approval, with ETH showing outperformance as the likelihood of an ETH spot ETF approval increased.”
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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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