Cryptocurrency Price Today: Bitcoin Remains Stable, Ethereum Drops Below $1,800

Cryptocurrency price on October 25 quick take: The global market cap dipped to $1.25 trillion.

Bitcoin price stood at $34,016.72 on Wednesday.

Source : PIRO/Pixabay

Bitcoin (BTC), which managed to climb above the $34,000 mark yesterday, managed to hold on to its newfound high early Wednesday morning. However, Ethereum (ETH) lost its $1,800 mark and was found dwelling within the $1,700 range. It is usual to see a bout of dip in coin prices right after a sudden rally. Hence, most of the popular altcoins — including the likes of Dogecoin (DOGE), Ripple (XRP), Solana (SOL), and Litecoin (LTC) — saw minor dips across the board. Memecoin Pepe (PEPE), which was the biggest gainer on Tuesday, emerged to be the biggest loser of the lot, with a 24-hour dip of over 7 percent. The MINA token, on the other hand, became the biggest gainer, with a whopping 24-hour jump of over 50 percent. 

The global crypto market cap stood at $1.25 trillion at the time of writing, registering a 24-hour dip of 1.67 percent.

Bitcoin (BTC) Price Today

Bitcoin price stood at $34,016.72, registering a 24-hour dip of 1.40 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 28.59 lakh.

Ethereum (ETH) Price Today

ETH price stood at $1,788.11, marking a 24-hour loss of 1.78 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.51 lakh.

Dogecoin (DOGE) Price Today

DOGE registered a 24-hour dip of 3.09 percent, as per CoinMarketCap data, currently priced at $0.06612. As per WazirX, Dogecoin price in India stood at Rs 5.57.

Litecoin (LTC) Price Today

Litecoin saw a 24-hour loss of 2.09 percent. At the time of writing, it was trading at $69.67. LTC price in India stood at Rs 5,856.75.

Ripple (XRP) Price Today

XRP price stood at $0.5537, seeing a 24-hour jump of 0.78 percent. As per WazirX, Ripple price stood at Rs 46.76.

Solana (SOL) Price Today

Solana price stood at $31.03, marking a 24-hour loss of 1.81 percent. As per WazirX, SOL price in India stood at Rs 2,722.95. 

Top Crypto Gainers Today (October 25)

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

Mina (MINA)

Price: $0.731
24-hour gain: 51.65 percent

Conflux (CFX)

Price: $0.15
24-hour gain: 19.98 percent

Chainlink (LINK)

Price: $11.34
24-hour gain: 8.72 percent

dYdX (DYDX)

Price: $2.30
24-hour gain: 6.49 percent

Casper (CSPR)

Price: $0.03436
24-hour gain: 6.07 percent

Top Crypto Losers Today (October 25)

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

Pepe (PEPE)

Price: $0.0000009373
24-hour loss: 7.63 percent

Stacks (STX)

Price: $0.6758
24-hour loss: 7.52 percent

Maker (MKR)

Price: $1,471.83
24-hour loss: 7.42 percent

Bitcoin SV (BSV)

Price: $51.31
24-hour loss: 5.79 percent

GMX (GMX)

Price: $40.34
24-hour loss: 5.60 percent

What Crypto Exchanges Are Saying About Current Market Scenario

Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin's value soared above the $35,000 mark after the appearance of BlackRock's spot bitcoin ETF (IBTC) ticker on the US Depository Trust & Clearing Corporation's (DTCC) website. However, over the past 24 hours, prices settled at the $34,000 range as the ticker disappeared and then reappeared. This bullish upturn may also be attributed to Grayscale's legal victory against the US SEC after the D.C. Circuit Court of Appeals ordered the SEC to reconsider its prior rejection of Grayscale's spot bitcoin ETF application. These developments have raised optimism among market participants, fueling expectations of an impending approval for Bitcoin spot ETF applications. Meanwhile, Ethereum has continued to trade above the $1,700 level.”

Rajagopal Menon, Vice President, WazirX, said, “Bitcoin’s breakaway from consolidation has been phenomenal with prices increasing to the levels of last year April. The increase in fund inflows and the short squeeze on the network last week added to the surge. The SEC’s softening stance towards Crypto ETFs as per prominent institutional investors, has also ignited hopes of an early bull market which might be too soon to predict. Bitcoin’s market dominance was prominent as key tokens such as Ether, Solana, etc. increased in price following BTC’s price rally.”

Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “Bitcoin's meteoric 10 percent rise this week to an all-time high of $35,900 has had a ripple effect on related stocks. MicroStrategy, known for its sizable bitcoin holdings, saw its shares rise a remarkable 12 percent, bringing unrealized bitcoin gains close to $1 billion. Coinbase shares rose 7.33 percent, reflecting the cryptocurrency's success. Bitcoin mining companies Riot Blockchain and Marathon Digital Holdings surged more than 10 percent and 12 percent, respectively, beating Bitcoin in both daily and year-to-date gains. Companies like Cipher Mining, Riot Platforms, and Bitfarms have exceeded 100 percent growth this year. This increase can be attributed to a variety of factors, including anticipation of a bitcoin halving event in 2024 and a legal ruling in favour of Grayscale's application for a bitcoin ETF, which was previously rejected by the SEC. This decision, reiterating the approval of the Bitcoin futures ETF, underscores the continued importance of Bitcoin in the financial landscape.”

CoinDCX Research Team told ABP Live, “Over the past 24 hours, both BTC and ETH have experienced approximately a 2 percent decline. This dip could be linked to the temporary removal of BlackRock's (BLK) spot Bitcoin ETF ticker, IBTC, from the Depository Trust & Clearing Corporation's (DTCC) website. However, it's important to note that the ticker was relisted after a few hours. The presence of the ticker on the DTCC site had led investors to speculate about the imminent approval of a spot Bitcoin ETF, which contributed to BTC's significant surge from the $30,000 range to over $35,000.”

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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.