Cryptocurrency Price Today: Bitcoin Continues Roller Coaster Ride As It Dips Below $62,000 Again

Cryptocurrency price on May 15 quick take: The global market cap dipped to $2.26 trillion.

Bitcoin price stood at $61,990.47 on Wednesday.

Source : Mohamed Hassan/Pixabay

Bitcoin (BTC), the world’s oldest and most valued cryptocurrency, remained on its roller coaster ride as it dipped below the $62,000 mark for the second time this week. Other popular altcoins — including the likes of Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Solana (SOL), and Litecoin (LTC) — landed in the reds sacross the board as the overall Market Fear & Greed Index stood at 52 (Neutral) out of 100, as per CoinMarketCap data. The Lido DAO (LDO) token emerged as the biggest gainer of the lot, with a 24-hour jump of over 2 percent. Memecoin dogwifhat (WIF) became the biggest loser, with a 24-hour dip of nearly 11 percent. 

The global crypto market cap stood at $2.26 trillion at the time of writing, registering a 24-hour dip of 1.22 percent.

Bitcoin (BTC) Price Today

Bitcoin price stood at $61,990.47, registering a 24-hour dip of 1.06 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 54.48 lakh.

Ethereum (ETH) Price Today

ETH price stood at $2,905, marking a 24-hour dip of 1.25 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 2.58 lakh.

Dogecoin (DOGE) Price Today

DOGE registered a 24-hour loss of 3.43 percent, as per CoinMarketCap data, currently priced at $0.1458. As per WazirX, Dogecoin price in India stood at Rs 12.83.

Litecoin (LTC) Price Today

Litecoin saw a 24-hour dip of 1.64 percent. At the time of writing, it was trading at $78.96. LTC price in India stood at Rs 7,000.

Ripple (XRP) Price Today

XRP price stood at $0.5015, seeing a 24-hour loss of 1.09 percent. As per WazirX, Ripple price stood at Rs 43.98.

Solana (SOL) Price Today

Solana price stood at $143.46, marking a 24-hour dip of 3.45 percent. As per WazirX, SOL price in India stood at Rs 12,648.80. 

Top Crypto Gainers Today (May 15)

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

Lido DAO (LDO)

Price: $1.96
24-hour gain: 2.30 percent

TRON (TRX)

Price: $0.1212
24-hour gain: 2.14 percent

Chiliz (CHZ)

Price: $0.1253
24-hour gain: 1.98 percent

THORChain (RUNE)

Price: $5.45
24-hour gain: 1.75 percent

Ethena (ENA)

Price: $0.8959
24-hour gain: 1.73 percent

Top Crypto Losers Today (May 15)

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

dogwifhat (DOG)

Price: $2.91
24-hour gain: 10.83 percent

Helium (HNT)

Price: $4.84
24-hour gain: 9.70 percent

Akash Network (AKT)

Price: $4.43
24-hour gain: 7.99 percent

JasmyCoin (JASMY)

Price: $0.01792
24-hour gain: 6.36 percent

Jupiter (JUP)

Price: $1.08
24-hour gain: 6.20 percent

What Crypto Exchanges Are Saying About Current Market Scenario

Mudrex co-founder and CEO Edul Patel told ABP Live, “In response to a 0.05% increase in U.S. wholesale inflation in April, Bitcoin has dropped below $62,000. Investors and traders are looking ahead to today's Consumer Price Index report. The cryptocurrency now has support at $60,800 and resistance at $62,700. Market participants are paying close attention to this week's economic data and its implications for interest rates.”

CoinSwitch Markets Desk noted, “Trading around $61.8k, BTC (1.1%) was unable to sustain the gains from the day before and faced downward pressure in the last 24 hours. The overall crypto market is also down by 1.4%, with many attributing April’s higher-than-expected wholesale inflation data to this market performance. The market dip also triggered $144 million in liquidations in the last 24 hours, inclusive of $114 million in long liquidations. We can expect further volatility in the market, in anticipation of the U.S. CPI (Consumer Price Index) data. The CPI data that will be released today is expected to increase by 3.4% Y-o-Y in April, as compared to 3.5% in March.”

Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “Bitcoin is trading at $61,500 with a 24-hour trading volume of $28.28 billion, down 2.25% over the last day. With a market cap of $1.21 trillion and a circulating supply of 19,698,325 BTC, the cryptocurrency has seen renewed interest in US spot bitcoin ETFs. After two days of outflows, there was a net inflow of $66 million on May 13, led by FBTC Fidelity with $38.6 million and Bitwise Bitcoin ETF BITB with $20.3 million. This influx suggests increased investor confidence in Bitcoin ETFs. Technically, Bitcoin price is slightly bullish around $61,450, with potential support at $60,185 and 50-day EMA resistance at $61,975.”

Shivam Thakral, CEO of BuyUcoin, said, “The overall crypto market cap witnessed a minor dip and is currently at $2.26 trillion. Bitcoin and Ethereum witnessed marginal decline after US PPI inflation numbers were higher than expected. US Fed Chief Jerome Powell expressed that the possibility of inflation cooling down in 2024 is bleak as the prices rose quicker than expected in the first quarter. The markets are expected to remain choppy in the coming weeks as inflation data will keep the investors on their toes. However, Raoul Pal, a well-known financial sector figure, predicts a significant expansion of the cryptocurrency market, forecasting its market capitalization could reach $100 trillion.” 

CoinDCX Research Team told ABP Live, “In the last 24 hours, the crypto market experienced a decline, with BTC and ETH both dropping by more than 2%. Technically, BTC and ETH continue to exhibit choppy price action, remaining within a range and experiencing liquidations on both sides. Funding rates are neutral, and the overall price action is mixed, though both cryptocurrencies are currently at key support levels. Today's US CPI numbers will be crucial to watch as they are expected to significantly impact the market.”

Subscribe And Follow ABP Live On Telegram: t.me/officialabplive

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.