Cryptocurrency Price Today: Bitcoin Fails To Regain $40k Mark, MANTA Gains Nearly 30%
Cryptocurrency price on January 25 quick take: The global market cap dipped to $1.56 trillion.
Bitcoin (BTC), the oldest and most valued cryptocurrency in the world, failed to rise above the $40,000 mark early Thursday, as its latest slump continues. Some investors were hopeful that Ethereum (ETH) might see some traction due to BlackRock’s spot ETH exchange-traded fund (ETF). However, its approval has now been delayed by the US Securities and Exchanges Commission (SEC). This is largely expected to lead to a bearish trend for ETH. Other top coins — including the likes of Dogecoin (DOGE), Solana (SOL), Ripple (XRP), and Litecoin (LTC) — landed in the reds across the board. The AKT token, which was the biggest gainer yesterday, emerged to be the biggest loser today, with a 24-hour dip of over 7 percent. MANTA, on the other hand, became the biggest gainer, with a 24-hour jump of nealy 30 percent.
The global crypto market cap stood at $1.56 trillion at the time of writing, registering a 24-hour gain of 1.01 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $39,974.25, registering a 24-hour gain of 0.86 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 35.80 lakh.
Ethereum (ETH) Price Today
ETH price stood at $2,214.69, marking a 24-hour dip of 0.15 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.99 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour loss of 0.33 percent, as per CoinMarketCap data, currently priced at $0.07793. As per WazirX, Dogecoin price in India stood at Rs 6.95.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour gain of 0.91 percent. At the time of writing, it was trading at $65.66. LTC price in India stood at Rs 5,756.
Ripple (XRP) Price Today
XRP price stood at $0.5153, seeing a 24-hour loss of 0.06 percent. As per WazirX, Ripple price stood at Rs 45.99.
Solana (SOL) Price Today
Solana price stood at $88.40, marking a 24-hour jump of 5.35 percent. As per WazirX, SOL price in India stood at Rs 7,700.
Top Crypto Gainers Today (January 25)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
Manta Network (MANTA)
Price: $3.28
24-hour gain: 29.95 percent
Helium (HNT)
Price: $6.99
24-hour gain: 23.99 percent
Pendle (PENDLE)
Price: $2.40
24-hour gain: 16.58 percent
Internet Computer (ICP)
Price: $11.88
24-hour gain: 14.18 percent
IOTA (IOTA)
Price: $0.2312
24-hour gain: 12.43 percent
Top Crypto Losers Today (January 25)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
Akash Network (AKT)
Price: $2.56
24-hour loss: 7.03 percent
Blur (BLUR)
Price: $0.6268
24-hour loss: 4.09 percent
Flare (FLR)
Price: $0.0211
24-hour loss: 2.99 percent
BNB (BNB)
Price: $290.27
24-hour loss: 2.33 percent
Aptos (APT)
Price: $8.39
24-hour loss: 2 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin remains below the critical threshold of $40,000, currently undergoing correction at $39,700 after a recent dip. The existing trading level could witness increased buying, given the support at $38,500. In case of a support breakdown, the next support level is expected at $37,800, while upward resistance is identified at $40,350.”
CoinSwitch Markets Desk noted, “BTC has started consolidating in a very narrow range of 39.5 k USD to 40.5 k USD following the recent dump below 40k USD. While this might indicate that bulls are not willing to step in at this price point, it might also be the case that taking Bitcoin’s price further down will not be easy for the bears as well. Given 38.5k USD is the last line of support before the next big support at 32k USD, some consolidation is expected here. While Grayscale’s GBTC sell pressure has seemingly slowed down, there has been another fear of a massive BTC unlock that might be coming in with the now-defunct Mt Gox exchange. Mt Gox has reportedly started verifying the BTC addresses of the 2014 hack victims and it seems likely that 200,000 BTC may soon enter into the market further adding up to the selling pressure.”
Rajagopal Menon, Vice President, WazirX, said, “This morning, the crypto market showed cautious gains as Bitcoin regained ground above $40,000. After dipping below $39,500 on Wednesday, down nearly 20% from its recent peak, BTC recovered, reaching as high as $40,166. Solana's SOL and Avalanche's AVAX outperformed, with approximately 8.5% and 11.5% gains, leading the broader market's upward movement.”
Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “Bitcoin is currently teetering at the crucial $40,000 mark, with a looming downward wedge pattern raising concerns about increased selling pressure. Resistance levels at $40,850, $41,381, and $43,394 could disrupt any potential downward trends, paving the way for a corrective rebound. Immediate support lies at $38,618, with further significant support at $37,638 and $36,745. The oversold Relative Strength Index (RSI) suggests a potential bullish correction, though it could be short-lived if the overarching bearish trend persists. Ethereum, trading near $2,250.1, faces resistance at $2,360.1, $2,426.7, and $2,475.3, while key support levels at $2,168.9, $2,105.5, and $2,026.9 may mitigate further drops. The bearish outlook is emphasized by the 50-day EMA crossing below at $2,415.7, but an oversold RSI near 26 hints at a possible corrective rally around the pivotal $2,250.1 level. Traders are closely monitoring these levels for potential market direction indicators.”
Shivam Thakral, CEO of BuyUcoin, said, “The overall crypto market cap jumped to the $1.55 trillion mark with BTC showing a marginal increase in its value from the previous day. Altcoins are showing a strong positive trajectory but it's not enough to lift the market sentiment. The US Fed should start cutting the interest rates soon to boost market liquidity and spark economic activity across sectors.”
CoinDCX Research Team told ABP Live, “In the last 24 hours, BTC has exhibited a slight recovery, holding above $40,000, yet it needs to clear and close above $40,800 for a bullish confirmation. ETH, however, closed in the red and maintains a bearish outlook. It is currently consolidating near the crucial support level at $2,175. A break of this level could potentially push ETH to $2,125 and $2,016. In related news, the SEC has delayed the approval of BlackRock's spot Ethereum ETF, contributing to a somewhat bearish sentiment for ETH at the moment.”
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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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