Cryptocurrency Price Today: Bitcoin Remains Within $43k Range, Astar Becomes Biggest Loser
Cryptocurrency price on January 8 quick take: The global market cap dipped to $1.61 trillion.
Bitcoin (BTC), the oldest and most valued cryptocurrency in the world, remained within the $43,000 range over the weekend despite seeing minor losses. Popular altcoins — including the likes of Ethereum (ETH), Ripple (XRP), Litecoin (LTC), Solana (SOL), and Dogecoin (DOGE) — landed in the reds across the board. The Stacks (STX) token went on to become the biggest gainer of the lot, with a 24-hour jump of a little over 1 percent. SEI, on the other hand, became the biggest loser with a 24-hour dip of over 17 percent.
The global crypto market cap stood at $1.61 trillion at the time of writing, registering a 24-hour dip of 2.49 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $43,505.03, registering a 24-hour loss of 1.13 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 39.02 lakh.
Ethereum (ETH) Price Today
ETH price stood at $2,192.04, marking a 24-hour dip of 2.35 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 2.01 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour loss of 5.42 percent, as per CoinMarketCap data, currently priced at $0.07655. As per WazirX, Dogecoin price in India stood at Rs 6.94.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour dip of 4.78 percent. At the time of writing, it was trading at $62.71. LTC price in India stood at Rs 5,850.69.
Ripple (XRP) Price Today
XRP price stood at $0.5641, seeing a 24-hour loss of 0.51 percent. As per WazirX, Ripple price stood at Rs 50.30.
Solana (SOL) Price Today
Solana price stood at $87.60, marking a 24-hour dip of 6.04 percent. As per WazirX, SOL price in India stood at Rs 7,900.
Top Crypto Gainers Today (January 8)
As per CoinMarketCap data, here are the top crypto gainers over the past 24 hours:
Stacks (STX)
Price: $1.62
24-hour gain: 1.17 percent
Toncoin (TON)
Price: $2.19
24-hour gain: 1.05 percent
Top Crypto Losers Today (January 8)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
Astar (ASTR)
Price: $0.1162
24-hour loss: 17.88 percent
Mina (MINA)
Price: $0.9865
24-hour loss: 14.10 percent
Internet Computer (ICP)
Price: $10.71
24-hour loss: 13.24 percent
Gala (GALA)
Price: $0.02317
24-hour loss: 13.19 percent
Conflux (CFX)
Price: $0.1707
24-hour loss: 12.95 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “During the weekend, Bitcoin traded at the $43,000 level, with market participants eyeing Bitcoin ETFs approval. BTC is facing resistance at $43,900, and a breakthrough could lead to a continued upward movement to $44,200. The market is currently in a state of equilibrium, with neither bulls nor bears taking the lead. In this scenario, Bitcoin is likely to trade within the narrow range of $43,000 and $44,500 in the coming days. Ethereum is following a similar trajectory to Bitcoin, and the approval of Bitcoin ETFs might pave the way for regulatory clarity on Ethereum ETFs. The upcoming week is anticipated to be volatile, especially with the release of US CPI data on Thursday.”
Parth Chaturvedi, Investments Lead, CoinSwitch Ventures, said, “US Bitcoin exchange-traded funds (ETFs) seem poised for imminent launch as the exchanges that will list them have submitted revised documents, indicating anticipation of approval from the US Securities and Exchange Commission in the near future. Resonating the positive sentiment, VanEck, an asset management firm, has pledged to allocate 5 percent of its fund's potential profits to support Bitcoin developers at Brink, contingent upon approval.”
Rajagopal Menon, Vice President, WazirX, said, “Bitcoin (BTC) demonstrates resilience around the $43.4k mark; however, recent analysis suggests caution, hinting it might not reach a new ATH soon. The broader crypto market presents varied sentiments, witnessing altcoins like Shiba Inu (SHIB) navigating complexities. As SHIB's address count rises, it reflects the burgeoning interest and potential market dynamics, emphasising the need for vigilant monitoring amidst evolving crypto landscapes.”
Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “Bitcoin is at a critical point, trading at $43,600 , with potential ETF approvals from BlackRock and Grayscale fueling excitement. VanEck's adviser suggests that ETFs could overcome unit bias and open the door to wider adoption. A surprise $1.17 million transaction to the genesis Bitcoin wallet raises speculation of Nakamoto's involvement or a publicity stunt. SEC rulings on ETF applications with impact on institutional engagement and market dynamics are expected. Bitcoin's recent drop to $42,125 reflects continued volatility with crucial support at $39,891. Technical analysis shows resistance at $44,200 and potential upside momentum, but RSI signals overbought conditions. Bitcoin's trajectory continues to be subject to rapid change due to the cryptocurrency's inherent volatility.”
Shivam Thakral, CEO of BuyUcoin, said, “The crypto market witnessed profit booking by traders due to which Bitcoin dipped to the $43,000 level while Ethereum slipped to the $2,181 mark. The latest market rally may have triggered profit booking and traders may have created fresh positions to prepare for the next cycle. The market sentiment is extremely positive as there is a lot of news around Bitcoin ETF approval by the SEC. Bitcoin approval will be the biggest market mover in 2024 and make digital assets mainstream across the globe. The market is expected to remain volatile in the coming weeks owing to the macroeconomic factors.”
CoinDCX Research Team told ABP Live, “During the weekend, the overall crypto market displayed a slight bearish sentiment. BTC traded sideways, currently positioned below the key resistance level at $44,300 and above the incline trendline support at $42,600. The rising BTC dominance contributed to bearish trends in altcoins. ETH witnessed a break below an incline trendline support and is also below the 20EMA Daily, indicating a bearish stance. The support level for ETH is at $2,131, with resistance at $2,390. Notably, investors are actively speculating on the potential approval of the BTC spot ETF on January 10.”
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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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