Cryptocurrency Price Today: Bitcoin Rises Above $43,000 Mark As Top Coins Land In Greens
Cryptocurrency price on January 30 quick take: The global market cap rose to $1.67 trillion.
Bitcoin (BTC), the oldest and most valued cryptocurrency in the world, managed to rise above the $43,000 mark early Tuesday as investors keep a close eye on the upcoming US FOMC meeting today and its call on the benchmark interest rate. Other top coins, including the likes of — Ethereum (ETH), Dogecoin (DOGE), Solana (SOL), Ripple (XRP), and Litecoin (LTC) — landed in the greens across the board. The PENDLE token emerged to be the biggest gainer of the lot, with a 24-hour jump of over 15 percent. MNT, on the other hand, became the biggest loser, with a 24-hour dip of over 5 percent.
The global crypto market cap stood at $1.67 trillion at the time of writing, registering a 24-hour gain of 2.27 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $43,544.23, registering a 24-hour gain of 2.92 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 38.44 lakh.
Ethereum (ETH) Price Today
ETH price stood at $2,311.67, marking a 24-hour gain of 1.74 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 2.04 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour jump of 3.41 percent, as per CoinMarketCap data, currently priced at $0.08174. As per WazirX, Dogecoin price in India stood at Rs 7.11.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour gain of 0.26 percent. At the time of writing, it was trading at $68.18. LTC price in India stood at Rs 5,968.93.
Ripple (XRP) Price Today
XRP price stood at $0.5374, seeing a 24-hour jump of 1.82 percent. As per WazirX, Ripple price stood at Rs 47.65.
Solana (SOL) Price Today
Solana price stood at $102.17, marking a 24-hour gain of 4.49 percent. As per WazirX, SOL price in India stood at Rs 8,800.
Top Crypto Gainers Today (January 30)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
Pendle (PENDLE)
Price: $2.63
24-hour gain: 15.95 percent
Sui (SUI)
Price: $1.60
24-hour gain: 15.10 percent
ORDI (ORDI)
Price: $62.38
24-hour gain: 11.08 percent
Mina (MINA)
Price: $1.17
24-hour gain: 8.50 percent
Blur (BLUR)
Price: $0.6731
24-hour gain: 8.37 percent
Top Crypto Losers Today (January 30)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
Mantle (MNT)
Price: $0.6085
24-hour loss: 5.40 percent
Conflux (CFX)
Price: $0.2333
24-hour loss: 4.04 percent
Injective (INJ)
Price: $36.67
24-hour loss: 3.20 percent
Lido DAO (LDO)
Price: $3.10
24-hour loss: 2.38 percent
Ronin (RON)
Price: $2.60
24-hour loss: 1.77 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin's recovery over the past 24 hours has brought it to the $43,000 level, signalling the potential for further upward movement if bulls can reach $44,700. A reversal by bulls might indicate a range-bound situation, and the current support is at $41,950. Ethereum is also in a recovery phase, with the $2,100 support potentially drawing in sellers. Investors are closely watching today's US FOMC meeting.”
CoinSwitch Markets Desk noted, “Post taking the trend line support around $38,500, Bitcoin has been in a constant uptrend for the past week now, gaining more than 12 percent in this period. Even as last week showed a net outflow of $500 million from the ETF products that went live recently. However, the seems to be settling down. Analysts have been predicting this move is largely due to the expectation of the US Fed to continue their rate pause which will be announced this week. One of the notable gainers of the day remained PENDLE as the Arbitrum-based protocol entered the top 100 in terms of circulating market cap. This came as the total value locked in the protocol has crossed the $500 million mark, an all-time high.”
Rajagopal Menon, Vice President, WazirX, said, “The market sentiment is anticipating pivotal events: the Fed's interest rate decision and US January unemployment rate data. Bitcoin's substantial gains, driven by Tether issuing $1BN in USDT, face uncertainty with the Fed’s announcement in line. A potential rate cut may favour bulls, while unchanged rates could signal bearish sentiment. Bitcoin's Bollinger Bands hint at reduced volatility. Over the past month, Bitcoin's correlation with the S&P 500 has decreased, indicating a negative correlation. An increasing correlation coefficient could ripple through the crypto industry should the stock market face a downturn in the aftermath of Chinese real estate firm Evergrande’s asset liquidation. Additionally, the negative sentiment from the stock market could also impact the crypto industry.”
Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “Bitcoin climbed above $43,000 with bullish sentiment supported by easing grayscale selling pressure and fresh bullish bets. Grayscale's reduced BTC transfers to exchanges, along with forecasts of new long positions above $43,000, suggest a potential rally to annual highs above $50,000. Positive factors include declining GBTC sales, surging US stock markets and Google's enabled Bitcoin ETF ad support. However, the upcoming Fed meeting poses a risk as strong US economic data may delay rate cuts, which could support the US dollar and dampen crypto markets. In addition, attention is paid to ETF flows, particularly the ebbs and flows of GBTC into other ETFs, which could affect the trajectory of Bitcoin.”
Shivam Thakral, CEO, BuyUcoin, noted, "The crypto market has experienced a significant price increase following days of decline, subsequent to the approval of Bitcoin ETFs. Despite a sell-off, Bitcoin discovered support around the $38k region, rebounding to rally above $43k . On the other hand, BTC dominance is rising which usually poses challenges for altcoins. This price shift can probably be attributed to a change in Google's guidelines, now allowing Bitcoin ETF adverts in the US by companies like BlackRock, VanEck, and Franklin Templeton."
CoinDCX Research Team told ABP Live, “In the last 24 hours, the crypto market has witnessed a positive trend, with a gain of more than 2.5 percent. BTC remains on an uptrend, marking a 3 percent upward movement and approaching the key resistance level at $44,500. BTC dominance has been consistently increasing over the past few days. ETH has shown signs of relief, registering a gain of more than 2 percent in a day and reclaiming the 50EMA Daily. However, further confirmation is needed to establish a bullish trend. Meanwhile, ETH dominance continues to decline, indicating a flow of funds away from ETH.”
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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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