Cryptocurrency Price Today: Bitcoin Stable At $42K, Top Coins See Mixed Movements
Cryptocurrency price on January 17 quick take: The global market cap rose to $1.69 trillion.
Bitcoin (BTC), the oldest and most valued cryptocurrency in the world, remained stable within the $42,000 range early Wednesday. Other top coins — including the likes of Ethereum (ETH), Dogecoin (DOGE), Solana (SOL), Ripple (XRP), and Litecoin (LTC) — saw a mix of gains and losses across the board. The Flare (FLR) token, which was the biggest gainer yesterday, became the biggest loser of the lot today, with a 24-hour dip of nearly 9 percent. Klaytn (KLAY), on the other hand, became the biggest gainer, with a 24-hour jump of over 22 percent.
The global crypto market cap stood at $1.69 trillion at the time of writing, registering a 24-hour gain of 0.37 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $42,882.79, registering a 24-hour jump of 0.30 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 37.82 lakh.
Ethereum (ETH) Price Today
ETH price stood at $2,567.31, marking a 24-hour gain of 1.51 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 2.25 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour jump of 0.10 percent, as per CoinMarketCap data, currently priced at $0.08108. As per WazirX, Dogecoin price in India stood at Rs 7.10.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour loss of 0.40 percent. At the time of writing, it was trading at $69.56. LTC price in India stood at Rs 6,046.83.
Ripple (XRP) Price Today
XRP price stood at $0.5753, seeing a 24-hour dip of 0.12 percent. As per WazirX, Ripple price stood at Rs 50.26.
Solana (SOL) Price Today
Solana price stood at $99.37, marking a 24-hour jump of 3.80 percent. As per WazirX, SOL price in India stood at Rs 8,746.31.
Top Crypto Gainers Today (January 17)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
Klaytn (KLAY)
Price: $0.2354
24-hour gain: 22.17 percent
Chiliz (CHZ)
Price: $0.108
24-hour gain: 20.08 percent
Beam (BEAM)
Price: $0.02238
24-hour gain: 13.83 percent
Woo (WOO)
Price: $0.4452
24-hour gain: 8.11 percent
Render (RNDR)
Price: $4.03
24-hour gain: 6.59 percent
Top Crypto Losers Today (January 17)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
Flare (FLR)
Price: $0.02168
24-hour loss: 8.94 percent
Sei (SEI)
Price: $0.7806
24-hour loss: 3.71 percent
FTX Token (FTT)
Price: $3.04
24-hour loss: 3.66 percent
Injective (INJ)
Price: $40.44
24-hour loss: 2.91 percent
Celestia (TIA)
Price: $18.83
24-hour loss: 2.69 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Profit booking was evident in the past 24 hours as Bitcoin almost slipped below $42,000. However, a quick bullish phase followed, propelling the price to $43,500 before consolidating just under $43,000. Bitcoin's next hurdle stands at the $43,918 resistance level, with the earlier safety net at $42,510. Meanwhile, Ethereum has experienced steady gains, coupled with a significant 30 percent surge in trading volume over the last day. The overall market sentiment continues to lean towards a greedy outlook.”
CoinSwitch Markets Desk noted, “The crypto market remained in a rather tight range for another day even as BTC went up by 1.5%. However, the ETH/BTC pair seems to have bottomed out as ETH (+2.5%) continues to outperform BTC in a bid to be the next asset to get an ETF approval. In another news, a popular stablecoin TUSD lost its peg by 1.5% yesterday as people sold more than 440 million dollars of TUSD versus only 300 million dollars of buy orders. TUSD is yet to reclaim its peg back as it trades around the 0.99 dollar mark.”
Rajagopal Menon, Vice President, WazirX, said, “Bitcoin's relative strength index has witnessed an uptick, signalling a shift towards a positive, bullish momentum. Anticipation surrounds the conclusion of Bitcoin's consolidation phase, with predictions of a price rally exclusive to the pre-halving stage. Additionally, the recent price decline triggered by large BTC asset movements by whales is expected to stabilise, aligning with an overall improvement in the BTC market. Currently, Bitcoin faces resistance at the $43,000 mark, and a new resistance level is taking shape around $45,250.”
Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “Recent developments have sparked bearish sentiment in the Bitcoin price prediction as the Bitcoin Miners Position Index (MPI) soared to 9.43 on January 12th. This spike in miner activity, which may indicate increased selling, has raised concerns among cryptocurrency enthusiasts. Last week saw a 15% selloff in BTC, but the market is now stabilizing around $41,600-$43,500. Technical analysis on January 16 revealed a key point at $43,220 with resistance at $44,384. The Relative Strength Index (RSI) at 45 and the 50-day EMA at 43,811 suggest a cautiously bearish outlook. Traders are waiting for a clear signal as to how Bitcoin is consolidating, highlighting the need to closely monitor critical levels.”
CoinDCX Research Team told ABP Live, “Over the past 24 hours, BTC has maintained stability, hovering around the $43,000 level. In contrast, ETH is displaying strength, outperforming and showing a bullish trend. BTC is consolidating, and ETH, after a brief consolidation, is on an upward trajectory towards resistance levels at $2,660 and $2,940. Altcoins are exhibiting a mixed performance, with tokens associated with ETH showcasing strength, while others experience a decline.”
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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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