Cryptocurrency Price Today: Bitcoin Crosses $68,000, All-Time High In Sight

Cryptocurrency price on March 5 quick take: The global market cap rose to $2.53 trillion.

Bitcoin price stood at $68,444.48 on Tuesday.

Source : Getty

Bitcoin (BTC), the oldest and most valued cryptocurrency in the world, climbed comfortably above the $68,000 mark early Tuesday. Its all-time high of $69,000 approaches slowly and given the current rally, it is largely expected that BTC will chart new heights soon. 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. Memecoin Shiba Inu (SHIB) emerged as the biggest gainer of the lot, with a 24-hour jump of over 97 percent. Fantom (FTM), on the other hand, became the biggest loser, with a 24-hour dip of nearly 11 per cent. 

The global crypto market cap stood at $2.53 trillion at the time of writing, registering a 24-hour gain of 6.05 percent.

Bitcoin (BTC) Price Today

Bitcoin price stood at $68,444.48, registering a 24-hour gain of 7.54 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 53.61 lakh.

Ethereum (ETH) Price Today

ETH price stood at $3,731.50 marking a 24-hour jump of 7.86 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 2.94 lakh.

Dogecoin (DOGE) Price Today

DOGE registered a 24-hour gain of 27.13 percent, as per CoinMarketCap data, currently priced at $0.198. As per WazirX, Dogecoin price in India stood at Rs 15.35.

Litecoin (LTC) Price Today

Litecoin saw a 24-hour dip of 0.29 percent. At the time of writing, it was trading at $89.52. LTC price in India stood at Rs 7,198.67.

Ripple (XRP) Price Today

XRP price stood at $0.6557, seeing a 24-hour jump of 3.44 percent. As per WazirX, Ripple price stood at Rs 51.80.

Solana (SOL) Price Today

Solana price stood at $130.36, marking a 24-hour gain of 1.38 percent. As per WazirX, SOL price in India stood at Rs 10,500.66. 

Top Crypto Gainers Today (March 5)

As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:

Shiba Inu (SHIB)

Price: $0.00004465
24-hour gain: 97.07 percent

eCash (XEC)

Price: $0.00007828
24-hour gain: 79.69 percent

BitTorrent (New) (BTT)

Price: $0.00000207
24-hour gain: 46.90 percent

Bonk (BONK)

Price: $0.00003997
24-hour gain: 26.74 percent

Dogecoin (DOGE)

Price: $0.1968
24-hour gain: 26.63 percent

Top Crypto Losers Today (March 5)

As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:

Fantom (FTM)

Price: $0.6346
24-hour loss: 10.54 percent

Axelar (AXL)

Price: $2.18
24-hour loss: 9.89 percent

Worldcoin (WLD)

Price: $7.25
24-hour loss: 9.47 percent

SingularityNET (AGIX)

Price: $0.8593
24-hour loss: 9.05 percent

Flare (FLR)

Price: $0.04054
24-hour loss: 8.78 percent

What Crypto Exchanges Are Saying About Current Market Scenario

Mudrex co-founder and CEO Edul Patel told ABP Live, “In the past 24 hours, Bitcoin has surged past the $68,300 threshold, achieving another significant milestone. There is a positive sentiment in the market fueled by institutional demand, the growth of spot Bitcoin ETFs, and the imminent halving event. According to IntoTheBlock, there has been a 5% year-to-date increase in the number of whales holding at least 1,000 Bitcoins. Additionally, 97% of all Bitcoin addresses are currently in a profitable state, indicating a surge in demand. Among the 19.6 million Bitcoins in circulation, nearly 70% (13.6 million) are held by hodlers who have maintained their positions for over a year, signaling a strengthening long-term investment sentiment. If this trajectory persists, Bitcoin is on the verge of surpassing its all-time high anytime soon. Meanwhile, Ethereum has breached the $3,600 mark for the first time since January 2022.”

Parth Chaturvedi, Investments Lead, CoinSwitch Ventures, said, “Bitcoin (+6.7%) crossed its previous all-time high (ATH) of $68,640 from November 2021 in the last 24 hours. Currently trading just below $68K, institutional participation via spot BTC ETFs and the investor’s anticipation ahead of BTC halving seems to be the key drivers for BTC’s price performance. According to Bloomberg, spot BTC ETFs recorded their second-strongest daily volume yesterday with $5.5 billion worth of shares traded. BlackRock’s IBIT ETF hosted $2.4 billion worth of volume alone, with its AUM climbing to $11 billion.”

Rajagopal Menon, Vice President, WazirX, said, “Bitcoin (BTC) continues its impressive rally, surpassing $67,000 and approaching its all-time high of $69,000. Breaking free from a week-long consolidation below $64,000, BTC soared to $68,800 on Tuesday. Its meteoric rise this year establishes BTC as one of the largest global assets, with a current market cap exceeding $1.3 trillion. Ethereum (ETH) followed suit, reaching $3,600 for the first time since 2022, albeit with a 4.6% gain compared to BTC. Meme coins shine, with dog-themed cryptos Dogecoin (DOGE) and Shiba Inu (SHIB) surging 30% and 100%, respectively, in the last 24 hours.”

Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “Bitcoin has recently hit all-time highs in euros and British pounds, with BTC/EUR surpassing €62,000 and BTC/GBP reaching £53,000. In US dollar terms, Bitcoin has exceeded $68,000, nearing its record of $69,000. The surge follows the introduction of spot Bitcoin ETFs in the US, notably BlackRock's which amassed $10 billion in assets within seven weeks. This influx of investment coincides with a decrease in BTC reserves on exchanges, suggesting investors are opting for self-custody. With impending halving of Bitcoin issuance to miners and potential rate cuts by the Fed, bullish sentiment prevails. Speculators anticipate BTC to surpass $70,000, with long-term targets potentially reaching into the $100,000s.”

Shivam Thakral, CEO of BuyUcoin, said, “Bitcoin experienced a significant surge yesterday, pushing the largest cryptocurrency up by more than 10% in a day. After breaking through $68,500, Bitcoin is only $500 away from its All-Time High of $69,000. Ethereum, on the other hand, is on the path to breach $4000 amid memecoin frenzy. Popular memecoins like SHIBA INU have experienced more than a 100% pump in a single day.” 

CoinDCX Research Team told ABP Live, “In the last 24 hours, the market continued its upward trend, with BTC almost reaching its all-time high but falling short. Despite this, BTC reached a new yearly high of $68,850, while ETH crossed the $3,600 mark. BTC continues to outperform ETH, driven by increasing ETF inflows. Technically, BTC remains bullish with no signs of reversal yet. The key challenge is breaching and sustaining above the 2021 peak level of $69,000, which could lead to further upside. Also, The SEC's delay in approving BlackRock's and Fidelity's spot ETH ETFs is seen as a positive development for ETH. This delay increases the likelihood of approval later, similar to what was observed with BTC. For ETH, the next key level to clear is $3,830.”

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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.