Cryptocurrency Price Today: Bitcoin Dips Below $66,000 As Top Coins Land In Red
Cryptocurrency price on March 22 quick take: The global market cap rose to $2.54 trillion.
Bitcoin (BTC), the world’s oldest and most valued cryptocurrency, appears to be struggling to resume its rally from the week before. While it managed to rise above the $66,000 mark on Thursday, it dipped down to the $65,000 range today morning. Other popular altcoins — including the likes of Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Solana (SOL), and Litecoin (LTC) — landed in the reds as investors show signs of concern over dipping prices. The JASMY token became the biggest gainer of the lot, with a 24-hour jump of over 15 percent. Memecoin FLOKI became the biggest gainer of the lot, with a 24-hour dip of over 11 percent.
The global crypto market cap stood at $2.51 trillion at the time of writing, registering a 24-hour dip of 0.55 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $65,885.84, registering a 24-hour dip of 1.37 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 58.18 lakh.
Ethereum (ETH) Price Today
ETH price stood at $3,506.49, marking a 24-hour jump of 10.45 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 3.08 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour gain of 3.69 percent, as per CoinMarketCap data, currently priced at $0.1561. As per WazirX, Dogecoin price in India stood at Rs 13.88.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour jump of 0.44 percent. At the time of writing, it was trading at $85.88. LTC price in India stood at Rs 7,663.87.
Ripple (XRP) Price Today
XRP price stood at $0.6348, seeing a 24-hour gain of 4.38 percent. As per WazirX, Ripple price stood at Rs 56.77.
Solana (SOL) Price Today
Solana price stood at $178.61, marking a 24-hour dip of 6.42 percent. As per WazirX, SOL price in India stood at Rs 15,912.10.
Top Crypto Gainers Today (March 22)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
JasmyCoin (JASMY)
Price: $0.0222
24-hour gain: 15.86 percent
Kaspa (KAS)
Price: $0.1572
24-hour gain: 14.68 percent
Maker (MKR)
Price: $3,305.83
24-hour gain: 10.15 percent
Internet Computer (ICP)
Price: $13.02
24-hour gain: 8.97 percent
Ronin (RON)
Price: $4.02
24-hour gain: 8.12 percent
Top Crypto Losers Today (March 22)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
Floki (FLOKI)
Price: $0.0002154
24-hour loss: 11.80 percent
Pyth Network (PYTH)
Price: $0.9309
24-hour loss: 10.23 percent
Jupiter (JUP)
Price: $1.23
24-hour loss: 8.98 percent
Solana (SOL)
Price: $178.26
24-hour loss: 6.56 percent
Axelar (AXL)
Price: $1.95
24-hour loss: 6.49 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin slipped to the $65,000 range amid a strengthening US dollar, potentially influenced by the Swiss central bank's decision to lower interest rates by 25 basis points. Nevertheless, Bitcoin remains steadfast above $60,000, marking a 26% increase over the past month and a remarkable 133% surge over the year. Expected support is positioned at $64,000, while resistance stands at $67,300. Meanwhile, Ethereum is trading at $3,400, with the potential for an upward movement if bulls can breach the $3,600 level. Additionally, OKX crypto exchange terminates services to Indian users, investors are suggested to move their funds to FIU compliant platforms to have a better legal recourse against any fraudulent activity.”
Parth Chaturvedi, Investments Lead, CoinSwitch Ventures, said, “Yesterday, Bitcoin (BTC) experienced a notable 5% drop, falling to a low of $64,600 from its starting point above $68,000. This decline in value was likely influenced by the resurgence of the U.S. dollar, triggered by the Swiss central bank's unexpected decision to reduce interest rates by 25 basis points.”
Rajagopal Menon, Vice President, WazirX, said, “Bitcoin (BTC) faced a 5% decline, settling around $65,600 amidst a strengthening U.S. dollar. Altcoins showcased resilience, with Ripple's XRP, Filecoin's FIL, and Internet Computer's ICP marking gains of 6%-7%. The dollar's resurgence followed a surprising interest rate cut by the Swiss central bank, nullifying Bitcoin's gains from yesterday's dovish Fed remarks. For BTC, maintaining the $65,000 support is crucial. Further upside requires surpassing $69,000, marking 2021's peak, to reignite bullish momentum.”
Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “Bitcoin climbed above $67,000, up 10% from earlier lows, as the Federal Reserve's dovish stance boosted markets. Despite recent profit-taking, Bitcoin's rebound signals continued bullish sentiment. With the expectation of three rate cuts and favourable macroeconomic conditions, Bitcoin may regain a record high of $73,000. Wednesday's close will be decisive to confirm a breakout above the descending trend channel. While the recent decline reached 17.5%, which is typical of bull markets, shallow corrections are expected, especially after the launch of a spot bitcoin ETF. With the potential to retest record highs, Bitcoin remains on track to reach $100,000 this year or next.”
Shivam Thakral, CEO of BuyUcoin, said, “Bitcoin is consolidating as Spot Bitcoin ETFs continue their trend of net outflows. Popular investor Grayscale's gBTC has seen outflows of -$1.8 billion. We may see a break out of this range into the mid $70,000s in the next few days or weeks. The Bitcoin price must maintain the $61,000 support region in case of a dip.”
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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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