Cryptocurrency Price Today (October 16): Bitcoin Briefly Rises To $67,000, Ethena Becomes Top Gainer
Cryptocurrency price on October 16 quick take: The global market cap rose to $2.31 trillion.
Bitcoin (BTC), the world’s oldest and most valued cryptocurrency, managed to briefly touch the $67,600 mark before settling down at around $66,900 early Wednesday. Other popular altcoins — including the likes of Ethereum (ETH), Dogecoin (DOGE), Solana (SOL), Ripple (XRP), and Litecoin (LTC) — landed in the greens across the board as the overall Market Fear & Greed Index stood at 58 (Neutral) out of 100, as per CoinMarketCap data. The Ethena (ENA) token became the biggest gainer with a 24-hour jump of nearly 8 percent. SUI became the top loser, with a 24-hour loss of over 9 percent.
The global crypto market cap stood at $2.31 trillion at the time of writing, registering a 24-hour jump of 1.40 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $66,941.08, registering a 24-hour jump of 2.03 percent, as per CoinMarketCap. According to Indian exchanges, BTC price stood at Rs 53.02 lakh.
Ethereum (ETH) Price Today
ETH price stood at $2,608.48, marking a 24-hour dip of 0.31 percent at the time of writing. Ethereum price in India stood at Rs 2.06 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour loss of 0.35 percent, as per CoinMarketCap data, currently priced at $0.1166. Dogecoin price in India stood at Rs 9.48.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour gain of 6.91 percent. At the time of writing, it was trading at $71.77. LTC price in India stood at Rs 5,714.78.
Ripple (XRP) Price Today
XRP price stood at $0.5414, seeing a 24-hour dip of 1.45 percent. Ripple price in India stood at Rs 45.29.
Solana (SOL) Price Today
Solana price stood at $153.57, marking a 24-hour loss of 1.58 percent. SOL price in India stood at Rs 12,233.13.
Top Crypto Gainers Today (October 16)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
Ethena (ENA)
Price: $0.4393
24-hour gain: 7.98 percent
Litecoin (LTC)
Price: $71.71
24-hour gain: 7.31 percent
Fantom (FTM)
Price: $0.7637
24-hour gain: 5.11 percent
Beam (BEAM)
Price: $0.01723
24-hour gain: 4.94 percent
Bitcoin SV (BSV)
Price: $51.70
24-hour gain: 4.66 percent
Top Crypto Losers Today (October 16)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
Sui (SUI)
Price: $2
24-hour loss: 9.90 percent
First Neiro On Ethereum (NEIRO)
Price: $0.001959
24-hour loss: 8.46 percent
Brett (Based) (BRETT)
Price: $0.1046
24-hour loss: 7.70 percent
Popcat (SOL) (POPCAT)
Price: $1.26
24-hour loss: 7.54 percent
Sei (SEI)
Price: $0.4469
24-hour loss: 6.86 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin experienced sharp price swings, surging to $67,600 and then falling to $64,900 within two hours due to profit booking. However, buyers quickly seized the opportunity, pushing BTC back up to $67,200. Market optimism was fueled by strong participation in Trump-backed WLFI tokens and anticipation of crypto-friendly regulations as the US presidential elections approach. The rising inflows into Bitcoin ETFs, which have seen over $19 billion in net, also contributed to the bullish sentiment. Meanwhile, BlackRock’s positive outlook and Standard Chartered’s forecast of BTC reaching $73,000 have further boosted momentum. Currently, Bitcoin faces resistance at $67,900 and support lies at $65,000.”
CoinSwitch Markets Desk noted, “Bitcoin’s price took traders on a wild ride Tuesday, surging to a nearly three-month high of $67,950 before dipping back to the $65,000 range and then rebounding to over $67K. This rollercoaster move still leaves BTC up 9% over the past week. Analysts, including Standard Chartered's Geoff Kendrick, point to political factors like the growing momentum of Donald Trump’s presidential campaign as a possible driver of the recent rally. Polymarket now gives Trump a 58% chance of winning, his highest odds since Joe Biden exited the race.”
Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “Bitcoin surged 5.36%, reclaiming $66K for the first time in 15 sessions, driven by hopes for bipartisan support in the US government. On Columbus Day, inflows into US BTC-spot ETFs skyrocketed to $476.4 million, spurred by remarks from Kamala Harris and overall optimism. However, despite the strong ETF interest, concerns remain about potential oversupply risks from the US government's 203K BTC stockpile, which could put downward pressure on Bitcoin prices moving forward. Investors should closely watch as market dynamics shift amid these developments.”
Shivam Thakral, CEO of BuyUcoin, said, “Bitcoin crossed the $67K mark as investor enthusiasm and political developments drove market activity. The most significant inflows into Bitcoin ETFs in over four months were $556 million, indicating significant institutional interest. While Vice President Kamala Harris’s recent campaign speech did not address cryptocurrency specifics, the ongoing discussions about regulatory clarity boost market confidence. The future of Bitcoin is still bright, with potential for more upward momentum as year-end draws near and more investors looking to gain exposure to digital assets.”
Avinash Shekhar, Co-founder & CEO, Pi42, said, “Bitcoin price increased by 8% between October 14 and 15, currently trading at $67,288 on October 16. With $38 billion in open interest, the demand for Bitcoin futures surged to its highest point since 2023. $304 million in holdings were liquidated in past 24 hours out of which $182.77 Million in longs and $121.29 Million in shorts were liquidated. Meanwhile, Ethereum is trading at $2,622 showing bullish trends, although onchain decentralized application (DApp) activity fell by 23% for Ethereum, which is concerning for the market.”
CoinDCX Research Team told ABP Live, “Bitcoin breaks above the bearish pattern, which suggests the bull run may have begun as it is a step away from the pivotal resistance at $68,200. This move was followed after a prolonged consolidation of over 7 months within a descending trend. The Bitcoin sell walls are decreasing, which indicates the sellers are becoming extremely exhausted. A similar thing occurred just before the 2020-21 bull run, and hence, the bull run 2024-25 is about to begin.Besides, the traders seem to have become optimistic over the next price action as a considerable rise in the volume and a significant rise in the active addresses as well. On the other hand, one of the BTC whales, Tesla, moves nearly $760 million worth of BTC to a new wallet for the first time in 2 years. This may indicate that the company is making some strategic plays, sparking bullish sentiments.The whales also appear to have become optimistic as Grayscale’s $GBTC has been witnessing 2 consecutive days of inflows for the first time since early June. The ETFs currently hold nearly 3% of the total BTC trading volume, and hence it may have a significant impact on it’s value.”
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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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