Cryptocurrency Price Today: Bitcoin Climbs Above $42,000 Over The Weekend
Cryptocurrency price on January 29 quick take: The global market cap rose to $1.63 trillion.
Bitcoin (BTC), the oldest and most valued cryptocurrency in the world, managed to rise above the $42,000 mark over the weekend after a worrying slump last week. Other top coins, including the likes of — Ethereum (ETH), Dogecoin (DOGE), Solana (SOL), Ripple (XRP), and Litecoin (LTC) — saw a mix of minor gains and dips across the board. Conflux (CFX) emerged to be the biggest gainer of the lot, with a 24-hour jump of over 10 percent. Chiliz (CHZ), on the other hand, became the biggest loser, with a 24-hour dip of over 5 percent.
The global crypto market cap stood at $1.63 trillion at the time of writing, registering a 24-hour dip of 0.15 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $42,273.97, registering a 24-hour dip of 0.24 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 37.26 lakh.
Ethereum (ETH) Price Today
ETH price stood at $2,269.01, marking a 24-hour loss of 0.82 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 2 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour loss of 2.33 percent, as per CoinMarketCap data, currently priced at $0.07904. As per WazirX, Dogecoin price in India stood at Rs 6.95.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour dip of 0.25 percent. At the time of writing, it was trading at $68.01. LTC price in India stood at Rs 5,957.57.
Ripple (XRP) Price Today
XRP price stood at $0.5284, seeing a 24-hour loss of 0.80 percent. As per WazirX, Ripple price stood at Rs 46.80.
Solana (SOL) Price Today
Solana price stood at $97.58, marking a 24-hour gain of 0.53 percent. As per WazirX, SOL price in India stood at Rs 8,438.
Top Crypto Gainers Today (January 29)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
Conflux (CFX)
Price: $0.2444
24-hour gain: 10.53 percent
Injective (INJ)
Price: $37.81
24-hour gain: 3.65 percent
Polkadot (DOT)
Price: $6.94
24-hour gain: 3.12 percent
Flare (FLR)
Price: $0.02213
24-hour gain: 2.98 percent
Celestia (TIA)
Price: $17.69
24-hour gain: 1.83 percent
Top Crypto Losers Today (January 29)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
Chiliz (CHZ)
Price: $0.1051
24-hour loss: 5.76 percent
Akash Network (AKT)
Price: $2.83
24-hour loss: 5.75 percent
Beam (BEAM)
Price: $0.01825
24-hour loss: 5.37 percent
BitTorrent (New) (BTT)
Price: $0.0000008627
24-hour loss: 4.75 percent
Blur (BLUR)
Price: $0.6199
24-hour loss: 4.39 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin surged above $42,000 during the weekend, in tandem with the performance of equities. BlackRock's Bitcoin ETFs crossed the $2 billion AUM mark. A breakthrough above the $42,800 resistance level could propel Bitcoin to $43,500, with $44,700 signalling a return of buyers. If Bitcoin fails to breach the resistance, it has support at $41,750. Investors are eagerly anticipating insights from the upcoming FOMC meeting on the 30th and 31st of this month.”
Parth Chaturvedi, Investments Lead, CoinSwitch Ventures, said, “BTC (+0.2% in the last 24 hours) saw a positive price action right before the weekend as it moved up from trading around $39k to $42k. After months of increasing anticipation of the spot BTC ETFs, the overbought market seems to have undergone a correction in January. Even though BTC’s recent price performance may hint towards a volatile short-term investor sentiment, investors have continued to accumulate BTCs in January, according to CryptoQuant—a crypto analytics platform. Additionally, analysts also predict the entry of Charles Schwab—a leading asset manager—in offering a spot BTC ETFs.”
Rajagopal Menon, Vice President, WazirX, said, “Bitcoin resiliently surpasses $42k, poised for a potential surge to $45k, driven by institutional investments. Geopolitical tensions in the Middle East raise caution due to potential inflationary impacts. Ethereum anticipates a rebound with the Prague upgrade, eyeing $2500, while ETF approval remains a key catalyst. Presently, Bitcoin is at $42,292.62, up 0.43% in 24 hours, and Ethereum trades at $2,269.14, down 0.47% in 24 hours. Bitcoin's 7-day change is 1.78%, while Ethereum's is -7.59%. Technical indicators for Bitcoin suggest a "Buy" sentiment, with at -446.”
Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “The price of bitcoin rose to $42,220, boosted by praise for BlackRock's Bitcoin ETF, which Rachel Aguirre, BlackRock's US director, hailed as a "huge success" and reported a trading volume of $3 billion and capital of $1.6 billion. Although Aguirre denied the Ethereum ETF, he praised BlackRock's foresight. The inflation-adjusted USD weakened 0.1% to 103.41 in the dollar index, signalling a possible Fed rate cut. Bitcoin is currently trading at $42,401 indicating an uptrend with major levels at $43,394 resistance and $40,957 support. Ethereum, trading at $2,289.7, represents bullish momentum above $2,320 and faces resistance at $2,388. Analysts expect further testing of resistance levels, which will provide insight into market dynamics.”
CoinDCX Research Team told ABP Live, “Over the weekend, the overall crypto market has shown positivity. BTC has sustained its position above $42,000 and is now heading towards the $44,400 resistance level. BTC has also successfully reclaimed both the 20EMA Daily and 7EMA Weekly, showcasing a highly bullish last weekly close and implying overall bullishness. ETH, however, closed on a bearish note and is still positioned below the 20EMA Daily. Currently, ETH is in the middle of its range, slightly above $2,275. Key support and resistance levels for ETH are at $2,175 and $2,388, respectively.”
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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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