Cryptocurrency Price Today: Bitcoin Remains Above $28,000, Toncoin Becomes Top Gainer
Cryptocurrency price on October 18 quick take: The global market cap stood at $1.05 trillion.
Bitcoin (BTC), the world’s oldest and most valued cryptocurrency, managed to remain above the $28,000 mark early Wednesday. Popular altcoins — including the likes of Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Solana (SOL), and Litecoin (LTC) — landed in the reds across the board. The Toncoin (TON) token became the biggest gainer of the lot, with a 24-hour gain of over 7 percent. Sui (SUI), on the other hand, became the biggest loser, with a 24-hour dip of over 9 percent.
The global crypto market cap stood at $1.09 trillion at the time of writing, registering a 24-hour dip of 0.19 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $28,502.78, registering a 24-hour gain of 0.74 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 24.55 lakh.
Ethereum (ETH) Price Today
ETH price stood at $1,566.69, marking a 24-hour dip of 1.51 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.37 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour loss of 1.79 percent, as per CoinMarketCap data, currently priced at $0.05892. As per WazirX, Dogecoin price in India stood at Rs 5.15.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour loss of 1.53 percent. At the time of writing, it was trading at $62.12. LTC price in India stood at Rs 5,320.14.
Ripple (XRP) Price Today
XRP price stood at $0.4906, seeing a 24-hour dip of 0.61 percent. As per WazirX, Ripple price stood at Rs 42.
Solana (SOL) Price Today
Solana price stood at $24.02, marking a 24-hour loss of 0.08 percent. As per WazirX, SOL price in India stood at Rs 2,037.
Top Crypto Gainers Today (October 18)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
Toncoin (TON)
Price: $2.11
24-hour gain: 7.62 percent
OKB (OKB)
Price: $46.43
24-hour gain: 5.77 percent
Bitcoin SV (BSV)
Price: $39.34
24-hour gain: 3.60 percent
MX Token (MX)
Price: $2.62
24-hour gain: 2.97 percent
Chiliz (CHZ)
Price: $0.05811
24-hour gain: 2.63 percent
Top Crypto Losers Today (October 18)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
Sui (SUI)
Price: $0.37
24-hour loss: 9.63 percent
Klaytn (KLAY)
Price: $0.1213
24-hour loss: 7.02 percent
Uniswap (UNI)
Price: $3.86
24-hour loss: 5.96 percent
Conflux (CFX)
Price: $0.1096
24-hour loss: 5.19 percent
Gala (GALA)
Price: $10.01313
24-hour loss: 5 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin's value has surpassed the $28,300 threshold in the last 24 hours. This price movement is driven by investor optimism surrounding the possible approval of a Bitcoin Spot ETF in the United States. This wave of positive sentiment has painted a bullish picture in the market. To maintain the upward trajectory, Bitcoin must breach the resistance at $28,600 or consolidate around $28,200. Meanwhile, Ethereum maintains a consistent trading pattern within the $1,500 to $1,600 range.”
Shubham Hudda, Senior Manager, CoinSwitch Markets Desk, said, “Almost all altcoins are in the red today, including ETH (-1.7 percent) while BTC (+0.5 percent) traded flat. This translated into Bitcoin’s dominance increasing significantly to 52 percent, reaching its 18-month high. Bitcoin has historically shown to increase its dominance as its halving event approaches. It seems as if history is repeating itself yet again, irrespective of how much investors claim that it is different this time.”
Rajagopal Menon, Vice President, WazirX, said, “A 10 percent Bitcoin surge gave traders an insight into the potential impact of a pending SEC decision on spot ETFs. A false report of BlackRock's approval lifted Bitcoin to $30,002, its highest since August. The surge disrupted low volatility, and developments on spot ETFs have driven key rallies in 2023. On WazirX, Viberate (VIB) and StormX (STMX) have been the top gainers in the last 24 hours.”
Shivam Thakral, CEO, BuyUcoin, said, "In a rare move, BTC gained against the larger trend across the crypto market. ETH and other altcoins slipped in red while BTC outperformed the majority of digital assets in the last 24 hours and BTC dominance surged to 51 percent which is the highest in the current bear market. The impact of the Israel-Hamas conflict is still looming over the financial markets and traders should brace for tough times ahead."
Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “The central point of the chart is the pivotal $28,077, a key reference price. Immediate obstacles include resistance levels at $28,549, with subsequent obstacles at $29,219 and $29,886. Bitcoin's initial support is at $27,667 and other safety nets are at $27,208 and $25,985. Regarding technical indicators: The Relative Strength Index (RSI) is currently at 74, indicating that Bitcoin may be overbought. While an RSI above 50 usually indicates an uptrend, caution is advised due to its proximity to the overbought boundary. Meanwhile, the 50-day exponential moving average (50 EMA) at $28,077 reinforces its significance. Bitcoin is comfortably above the 50 EMA, indicating a short-term bullish outlook. Chart patterns reveal 4-hour trendline resistance near $28,600. Neutral candlestick patterns signal investor indecision, likely due to anticipation of clearer fundamental signals before taking action.”
CoinDCX Research Team told ABP Live, “In the last 24 hours, BTC has seen a slight 0.4 percent increase, while ETH has experienced a -1.77 percent dip. Notably, ETH's dominance in the market has been on a continuous decline. BTC has successfully reclaimed the 200-day Simple Moving Average (SMA) and is currently holding above it. However, for BTC to continue its upward momentum, it needs to clear and sustain the crucial resistance level at Rs 25,02,000 ($28,600). On the other hand, ETH is displaying signs of weakness, and it's crucial for ETH to maintain its position above the major support level at Rs 1,34,500 ($1,530), as a drop below this price could lead to further declines.”
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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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