Cryptocurrency Price Today: Joe Biden Withdrawal Leads To Bitcoin Rally, Briefly Rises Above $68,000
Cryptocurrency price on July 22 quick take: The global market cap rose to $2.46 trillion.
As Joe Biden announced his withdrawal from the US Presidential election run, Bitcoin (BT) managed to see a rally in prices due to improved chances of pro-crypto candidate Donald Trump’s win. The world’s oldest and most valued cryptocurrency briefly rose above the $68,000 mark early Monday, before settling at around $67,000. Other popular altcoins — including the likes of Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Solana (SOL), and Litecoin (LTC) — saw a mix of gains and losses across the board as the overall Market Fear & Greed Index stood at 64 (Greed) out of 100, as per CoinMarketCap data. The Avalanche (AVAX) token emerged to be the biggest gainer, with a 24-hour jump of over 13 percent. Arweave (AR) became the biggest loser, with a 24-hour dip of over 5 percent.
The global crypto market cap stood at $2.46 trillion at the time of writing, registering a 24-hour jump of 1.01 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $67,777.96, registering a 24-hour gain of 1.08 percent, as per CoinMarketCap. According to Indian exchanges, BTC price stood at Rs 45.03 lakh.
Ethereum (ETH) Price Today
ETH price stood at $3,508.65, marking a 24-hour jump of 0.12 percent at the time of writing. Ethereum price in India stood at Rs 2.13 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour gain of 7.46 percent, as per CoinMarketCap data, currently priced at $0.1408. Dogecoin price in India stood at Rs 8.91.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour gain of 0.28 percent. At the time of writing, it was trading at $73.34. LTC price in India stood at Rs 5,023.08.
Ripple (XRP) Price Today
XRP price stood at $0.5955, seeing a 24-hour dip of 0.94 percent. Ripple price in India stood at Rs 43.20.
Solana (SOL) Price Today
Solana price stood at $180.82, marking a 24-hour gain of 4.43 percent. SOL price in India stood at Rs 10,250.
Top Crypto Gainers Today (July 22)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
Avalanche (AVAX)
Price: $32.66
24-hour gain: 13.10 percent
Helium (HNT)
Price: $5.05
24-hour gain: 11.99 percent
Celestia (TIA)
Price: $7.32
24-hour gain: 10.07 percent
dogwifhat (WIF)
Price: $2.76
24-hour gain: 8.68 percent
Dogecoin (DOGE)
Price: $0.141
24-hour gain: 7.79 percent
Top Crypto Losers Today (July 22)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
Arweave (AR)
Price: $32.81
24-hour loss: 5.27 percent
Worldocin (WLD)
Price: $2.50
24-hour loss: 3.99 percent
Brett (Based) (BRETT)
Price: $0.1432
24-hour loss: 3.90 percent
Notcoin (NOT)
Price: $0.01566
24-hour loss: 3.48 percent
Immutable (IMX)
Price: $1.62
24-hour loss: 2.67 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin has bounced back to the $68,000 mark as market participants show optimism about Donald Trump's potential election win. BTC is now eyeing the $70,000 level, signalling a continued positive sentiment. However, bears are likely to challenge this advance in the $70,000 to $73,000 range. Bitcoin's strength has also led to a recovery in several altcoins. Additionally, the market may get another boost from the launch of Ethereum ETFs, which are expected to start trading on July 23.”
CoinSwitch Markets Desk noted, “Bitcoin (BTC) surged to a one-month high, reaching $66,700, amid a global IT outage caused by a software update from CrowdStrike. This rally, which saw Bitcoin rise 4% in 24 hours, coincided with strong trading volumes for BlackRock's spot bitcoin ETF. Solana also performed well, increasing 8.5% to over $170. Currently, BTC is priced at $68.09k.”
Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “Bitcoin recently surged to $67,567, its highest in a month, thanks to significant ETF inflows, including BlackRock's $116.2 million addition, and favorable economic conditions such as lower-than-expected US CPI data. Bitcoin is currently trading at $66,762 and its value is supported by stable hash rates and increased miner holdings. With the ETF now holding over 900,000 BTC worth $60 billion, investor confidence is growing. Key levels include the pivot at $66,284 and resistance at $67,580, $68,000 and $68,424. Support is at $66,000, $65,120 and $64,300. RSI at 63.53 and 50 EMA at $63,899 indicate a bullish outlook if Bitcoin remains above $66,250.”
Shivam Thakral, CEO of BuyUcoin, said, “The crypto market has witnessed a positive surge, with the global market cap increasing by 0.85% to $2.47 trillion. BTC’s dominance has also risen to 54.27%, up 0.09% over the day, indicating investor confidence in the leading cryptocurrency. Market reactions have been mixed, with Bitcoin and Ethereum holding steady while Dogecoin experienced a rise, possibly influenced by President Joe Biden's announcement of his withdrawal from the 2024 presidential race, which has stirred interest among investors.”
CoinDCX Research Team told ABP Live, “Over the weekend, the crypto market remained positive following President Biden's announcement that he will not seek re-election. This news is seen as beneficial for the crypto space as it increases the chances of Trump's return, who is perceived as more crypto-friendly. Technically, Bitcoin is now eyeing a test of the range high at the early $70k level. Despite an open CME gap down at around $58-61k, the immediate focus is on moving towards the range high. The upcoming Bitcoin conference this weekend is expected to bring more volatility to the market. Key support levels to consider are around $63,200 and $60,300. On the upside, resistance levels are at $72,000 and $73,800.”
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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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