Cryptocurrency Price Today: Bitcoin Remains Within $42,000 Range, ETHDYDX Becomes Top Gainer
Cryptocurrency price on January 18 quick take: The global market cap dipped to $1.68 trillion.
Bitcoin (BTC), the oldest and most valued cryptocurrency in the world, managed to remain stable within the $42,000 range on Thursday. Other top coins — including the likes of Ethereum (ETH), Dogecoin (DOGE), Solana (SOL), Ripple (XRP), and Litecoin (LTC) — saw minor losses across the board. The ETHDYDX token emerged to be the biggest gainer of the lot, with a 24-hour jump of over 6 percent. THORChain (RUNE) became the biggest loser, with a 24-hour dip of over 10 percent.
The global crypto market cap stood at $1.68 trillion at the time of writing, registering a 24-hour loss of 1.20 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $42,594.04, registering a 24-hour dip of 0.68 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 37.30 lakh.
Ethereum (ETH) Price Today
ETH price stood at $2,529.24, marking a 24-hour dip of 1.70 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 2.21 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour loss of 1.31 percent, as per CoinMarketCap data, currently priced at $0.08018. As per WazirX, Dogecoin price in India stood at Rs 7.01.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour dip of 0.31 percent. At the time of writing, it was trading at $69.20. LTC price in India stood at Rs 6,049.49.
Ripple (XRP) Price Today
XRP price stood at $0.5659, seeing a 24-hour loss of 1.50 percent. As per WazirX, Ripple price stood at Rs 49.51.
Solana (SOL) Price Today
Solana price stood at $99.81, marking a 24-hour dip of 0.13 percent. As per WazirX, SOL price in India stood at Rs 8,664.62.
Top Crypto Gainers Today (January 18)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
dYdX (ETHDYDX)
Price: $3.10
24-hour gain: 6.47 percent
Flare (FLR)
Price: $0.02187
24-hour gain: 5.85 percent
Render (RNDR)
Price: $4.22
24-hour gain: 2.55 percent
Helium (HNT)
Price: $7.65
24-hour gain: 2.14 percent
Sei (SEI)
Price: $0.7965
24-hour gain: 1.67 percent
Top Crypto Losers Today (January 18)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
THORChain (RUNE)
Price: $4.25
24-hour loss: 10.56 percent
Beam (BEAM)
Price: $0.02062
24-hour loss: 9.76 percent
Bonk (BONK)
Price: $0.00001289
24-hour loss: 8.69 percent
Lido DAO (LDO)
Price: $3.13
24-hour loss: 8.06 percent
Arbitrum (ARB)
Price: $1.96
24-hour loss: 7.69 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin consolidates at $42,000, marked by profit booking and increased investor interest following spot ETF approval. Bears are currently active at $43,500. BTC's resistance stands at $43,250, with support at $42,120. Simultaneously, Ethereum developers deploy the Dencun upgrade on the Goerli testnet, and Ethereum is trading at $2,500.”
CoinSwitch Markets Desk noted, “With BTC (-0.8%) consolidating in a tight range for a fifth day straight post the ETF development, altcoins have started to show weakness. With Ethereum (ETH, -1.8%) going up in the last few days, even ARB (-7.8%) and LDO (-8.9%) which were among the top gainers, have posted losses in the last 24 hours. On the regulatory front, Thailand is now getting its own version of Binance exchange as Binance and Gulf Innova joined hands to launch Binance Thailand, providing a more secured and regulated way of trading digital assets for the country. BNB (-2.3%) was unfazed by this move, however.”
Rajagopal Menon, Vice President, WazirX, said, “The US inflation data is falling back, and labour market indicators are in a position to enable the Fed to start slashing interest rates soon. This has been a cause of hope among market analysts who predict a favourable run for Crypto in the months following the rate cut, most likely in March. Liquidity issues in the market will also be reduced significantly due to this. Bitcoin’s price has mostly remained flat since ETF approval with a further decline in the last 24 hours as the market continues to get accustomed to funds related to Bitcoin.”
Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “Bitcoin is witnessing a significant selloff as miners released a substantial 10,600 BTC (over $455.8 million) in the last 24 hours. On-chain analytics from CryptoQuant indicates a 130.45% increase in the crypto exchange's net flow, indicating active selling by miners. However, the decline in exchangeable bitcoin reserves suggests lower selling pressure as investors move assets out of exchanges. Despite recent swings, Bitcoin, currently supported between $41,000 and $43,000, maintains positive momentum. Experts are predicting that Bitcoin will soon cross $45,000 as they anticipate a halving event in April 2024, lower block rewards and boosted by the SEC's approval of a spot Bitcoin ETF. The network's robustness is evident in a saturated mempool that reflects organic growth.”
Shivam Thakral, CEO of BuyUcoin, said, “The overall crypto market is at $1,68 trillion with Bitcoin and Ether witnessing marginal fluctuation from the previous day. If Bitcoin closes above $43,000 this week, then we may witness a healthy surge in its price in the coming weeks. The Bitcoin ETF inflows are nearing the $1 billion mark, which according to the experts, qualifies for a successful listing. We can expect a less volatile Bitcoin after the listing of ETFs as it’s a regulated financial product now.”
CoinDCX Research Team told ABP Live, “From a technical perspective, there's a notable bullish indicator with the 50-week simple moving average (SMA) crossing above the 200-week SMA, a first in recorded history. However, upon closer examination, the previous weekly close appears bearish, contributing to mixed signals. Crucially, the $40,000-$41,000 range serves as a significant support level for BTC. ETH, meanwhile, has maintained its position above $2,500. The focus now lies on targets at $2,660 (local resistance) and $2,940.”
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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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