Cryptocurrency Price Today: Bitcoin Dips Below $62,000, PEPE Becomes Top Gainer
Cryptocurrency price on March 20 quick take: The global market cap dipped to $2.31 trillion.
Bitcoin (BTC) continued its bear run early Wednesday as it dipped below the $62,000 mark, marking a loss of over $10,000 when compared to its all-time high achieved last week. Other popular altcoins — including the likes of Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Solana (SOL), and Litecoin (LTC) — landed in the reds across the board. Memecoin PEPE emerged as the biggest gainer of the lot, with a 24-hour jump of nearly 6 percent. The Jupiter (JUP) token became the biggest loser, with a 24-hour dip of over 15 percent.
The global crypto market cap stood at $2.31 trillion at the time of writing, registering a 24-hour dip of 6.35 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $61,454.28, registering a 24-hour dip of 5.72 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 56.49 lakh.
Ethereum (ETH) Price Today
ETH price stood at $3,123.81, marking a 24-hour loss of 7.70 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 2.85 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour dip of 5.33 percent, as per CoinMarketCap data, currently priced at $0.1259. As per WazirX, Dogecoin price in India stood at Rs 11.60.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour loss of 3.76 percent. At the time of writing, it was trading at $78.90. LTC price in India stood at Rs 7,150.
Ripple (XRP) Price Today
XRP price stood at $0.6085, seeing a 24-hour dip of 10.17 percent. As per WazirX, Ripple price stood at Rs 52.50.
Solana (SOL) Price Today
Solana price stood at $167.24, marking a 24-hour dip of 8.70 percent. As per WazirX, SOL price in India stood at Rs 15,499.90.
Top Crypto Gainers Today (March 20)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
Pepe (PEPE)
Price: $0.000006667
24-hour gain: 5.95 percent
Celestia (TIA)
Price: $12.89
24-hour gain: 5.65 percent
UNUS SED LEO (LEO)
Price: $6.09
24-hour gain: 4.20 percent
Fantom (FTM)
Price: $0.9347
24-hour gain: 3.41 percent
Starknet (STRK)
Price: $1.90
24-hour gain: 3.03 percent
Top Crypto Losers Today (March 20)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
Jupiter (JUP)
Price: $1.10
24-hour loss: 15.21 percent
Avalanche (AVAX)
Price: $50.87
24-hour loss: 14.93 percent
Theta Network (THETA)
Price: $2.46
24-hour loss: 12.64 percent
Solana (SOL)
Price: $167.04
24-hour loss: 10.71 percent
NEAR Protocol
Price: $6.17
24-hour loss: 9.68 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin has slipped below the $65,000 mark in the last 24 hours, now struggling to hold above the $62,000 support level. Resistance is anticipated at $63,300, with support lying at $61,500. Bitcoin has not gained enough strength to make a sharp move. Today's Federal Reserve meeting, focusing on rate decisions and economic updates, is closely watched by investors. Meanwhile, MicroStrategy's purchase of an additional 9,245 Bitcoin for $623 million.”
CoinSwitch Markets Desk noted, “The overall crypto markets slumped by more than 4% as BTC saw its worst performing day since November 2022 - strengthening the case that with BTC halving less than just 30 days away - another shake out might be on the cards. While popular altcoin SOLANA lost more than 13% value in a day, other layer-1 blockchains and said “Solana Killers” like Aptos (+4.5%) and Fantom (+18.8%) have shown decent strength which shows that investors’ confidence is still not lost and a bit of cool off before another leg up might be on the cards.”
Rajagopal Menon, Vice President, WazirX, said, “The Bitcoin charts provide insight into the ongoing struggle between buyers and sellers, showcasing the market's inherent volatility and the opportunities it offers. Bitcoin is anticipated to trade within the range of $62,700 to $68,900 for the foreseeable future, as sideways movement is characteristic of Bitcoin's behaviour until significant developments unfold, likely in April. The low inflow of money in Bitcoin ETFs before the Fed’s Open Market Committee could indicate that interest rates could continue to be high which might adversely affect crypto prices. However, that will be based on the inflation data.”
Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “Investment giant BlackRock is teaming up with Securitize to launch a new fund, suggesting a venture into asset tokenization. The fund, registered in the British Virgin Islands, allows investors to pool funds for potential higher returns. With a minimum investment of $100,000, the BlackRock USD Institutional Digital Liquidity Fund targets external investors. Tokenization involves converting real-world assets into digital tokens on a blockchain, offering real-time settlement and transparent asset tracking. BlackRock's move follows its success with a Spot Bitcoin ETF, indicating a growing interest in crypto investments. CEO Larry Fink anticipates a broader shift towards tokenizing all financial assets, aiming to enhance transparency and combat corruption in the financial system.”
Shivam Thakral, CEO of BuyUcoin, said, “Bitcoin saw another day of correction by retreating to as low as $61,500. The dip could be a buying opportunity for investors who have been sidelined for the longest time as the halving approaches. Top Bitcoin investor, MicroStrategy bought an additional 10,000 Bitcoin yesterday, bringing its holdings to close to 1 percent of Bitcoin's total supply. This temporary consolidation phase of Bitcoin could be a good opportunity for investors to add it to their long-term portfolios, as the overall outlook remains positive.”
CoinDCX Research Team told ABP Live, “In the last 24 hours, the crypto market saw further decline, with BTC dropping to $62,000, down almost 16% from its all-time high, and ETH falling to $3,150. Technically, BTC is currently testing the 200 EMA 4-hour support, and a drop below this could lead to the next key support level at $58,700, while resistance is at $64,000. ETH has fallen below the 50 EMA Daily at the $3,200 level. The next key support is at $3,030, with resistance at $3,520. The decline in BTC has also affected altcoins, which continued to fall alongside.”
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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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