Cryptocurrency Price Today (January 16): Bitcoin Briefly Rises Above $100,000, VIRTUAL Becomes Top Gainer
Cryptocurrency price on January 16 quick take: The global market cap dipped to $3.29 trillion.
Bitcoin (BTC), the world’s oldest and most valued crypto, shot above the $100,000 mark before settling withi the $99,000 range at the time of writing, driven by the favourable CPI data meeting expectations. Other popular altcoins — including the likes of Ethereum (ETH), Solana (SOL), Ripple (XRP), and Litecoin (LTC) — landed in the greens across the board as overall Market Fear & Greed Index stood at 60 (Greed) out of 100, as per CoinMarketCap data. The Virtuals Protocol (VIRTUAL) token emerged to be the top gainer, with a 24-hour jump of over 30 percent. Movement (MOVE) was the biggest loser today, with a 24-hour dip of nearly 3 percent.
The global crypto market cap stood at $3.5 trillion at the time of writing, registering a 24-hour gain of 3.66 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $99,725.83, registering a 24-hour jump of 2.72 percent, as per CoinMarketCap. According to Indian exchanges, BTC price stood at Rs 81.85 lakh.
Ethereum (ETH) Price Today
ETH price stood at $3,384.76, marking a 24-hour gain of 4.74 percent at the time of writing. Ethereum price in India stood at Rs 2.81 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour jump of 5.01 percent, as per CoinMarketCap data, currently priced at $0.3794. Dogecoin price in India stood at Rs 28.92.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour gain of 17.82 percent. At the time of writing, it was trading at $120.24. LTC price in India stood at Rs 8,774.30.
Ripple (XRP) Price Today
XRP price stood at $3.13, seeing a 24-hour jump of 9.21 percent. Ripple price in India stood at Rs 218.50.
Solana (SOL) Price Today
Solana price stood at $203.02, marking a 24-hour gain of 6.61 percent. SOL price in India stood at Rs 15,924.36.
Top Crypto Gainers Today (January 16)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
Virtuals Protocol (VIRTUAL)
Price: $3.85
24-hour gain: 31 percent
Fartcoin (FARTCOIN)
Price: $1.22
24-hour gain: 22 percent
Litecoin (LTC)
Price: $119.83
24-hour gain: 17.59 percent
Sonic (S)
Price: $0.837
24-hour gain: 17.46 percent
Algorand (ALGO)
Price: $0.4601
24-hour gain: 16.09 percent
Top Crypto Losers Today (January 16)
As per CoinMarketCap data, here is the only crypto loser over the past 24 hours:
Movement (MOVE)
Price: $0.801
24-hour loss: 2.70 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin surged past $100k after a week-long consolidation, signalling a strong bullish comeback. The CPI data meeting expectations eased macroeconomic concerns, increasing hopes for dovish Fed policies. Investor confidence grew further with Oklahoma and Texas advancing Bitcoin Reserve proposals. Additionally, institutional participation increased with over $720 million in inflows into Bitcoin ETFs. As Trump’s inauguration approaches, anticipation of crypto-friendly announcements will continue to drive momentum, setting the stage for further market growth.”
CoinSwitch Markets Desk noted, “Bitcoin extended its recovery on January 15, reaching a high of $100,860 and currently challenging the critical resistance at $100,000. Risk assets gained momentum after a softer-than-expected Consumer Price Index report boosted market sentiment. ARK Invest's "The Bitcoin Monthly" noted that Bitcoin’s low December volatility suggests it has not yet entered the mania phase, leaving room for further upside in 2025. Meanwhile, Reliance Jio’s collaboration with Polygon Labs aims to bring blockchain innovations to 450 million users in India, and XRP hit a 7-year high above $3, driven by $3.8 billion in large-scale token accumulation.”
Avinash Shekhar, Co-founder & CEO, Pi42, said, “Bitcoin's rally towards the psychological mark of $100,000 is triggered by strong momentum and the favorable macroeconomic conditions. Cooling inflation with a positive CPI report enhanced confidence in the market, sending BTC higher amid stronger reasons for pro-crypto policies in the incoming administration, with prospects for monetary policy cuts increasingly supportive for Bitcoin's positioning as yet another digital-value store along with gold.”
Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “A hold above $98,500 represents a key condition for continuing the anticipated bullish wave. If this level is breached, the price may face intraday losses, potentially testing the key support at $95,195 before attempting a new rise. The expected trading range for today lies between $98,000 as support and $103,000 as resistance. The overall trend remains bullish.”
Shivam Thakral, CEO of BuyUcoin, said, “After a challenging week, the cryptocurrency market has shown resilience, with Bitcoin rebounding to surpass the $100,000 mark, driven by bullish sentiment surrounding U.S. economic policies. This surge in Bitcoin's price reflects a broader recovery in the crypto space, where XRP has also achieved a remarkable milestone, hitting a seven-year high above $3. Investors are optimistic about the future, predicting continued upward momentum for Bitcoin and other cryptocurrencies as market confidence grows. The overall market capitalization for Bitcoin now stands at approximately $1.923 trillion, highlighting its dominance in the crypto sector.”
Sumit Gupta, co-founder, CoinDCX, said, “The Bitcoin price yet again smashed the $100K milestone, and despite bearish interference, the top crypto is on its way to reclaim the lost levels. Besides, the star performer among the top 10 is XRP, which surged above $3 for the first time since 2018, surpassing the market capitalization of $180 billion. Positive market sentiments around XRP are believed to be related to the resolution of the Ripple vs SEC case, which could occur following Trump's inauguration as President, according to Ripple's legal officer.”
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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.