Cryptocurrency Price Today: Bitcoin Remains Stable As Ethereum Eyes $1,800

Cryptocurrency price on October 31 quick take: The global market cap rose to $1.27 trillion.

Bitcoin price stood at $34,259.87 on Tuesday.

Bitcoin (BTC), the oldest and most valued cryptocurrency in the world, managed to hold on to the $34,000 mark early Tuesday, as the overall market’s Fear & Greed Index stood at 72 (greed) as per CoinMarketCap. Ethereum (ETH), on the other hand, is steadily eyeing the $1,800 mark. Popular altcoins — including the likes of Dogecoin (DOGE), Ripple (XRP), Solana (SOL), and Litecoin (LTC) — saw minor jumps across the board. THORChain (RUNE) went on to become the top gainer, with a 24-hour jump of over 14 percent. Render (RNDR), on the other hand, became the biggest loser with a 24-hour dip of over 4 percent. 

The global crypto market cap stood at $1.27 trillion at the time of writing, registering a 24-hour gain of 0.35 percent.

Bitcoin (BTC) Price Today

Bitcoin price stood at $34,259.87, registering a 24-hour dip of 0.19 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 29.60 lakh.

Ethereum (ETH) Price Today

ETH price stood at $1,799.78, marking a 24-hour jump of 0.78 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.54 lakh.

Dogecoin (DOGE) Price Today

DOGE registered a 24-hour gain of 0.65 percent, as per CoinMarketCap data, currently priced at $0.06922. As per WazirX, Dogecoin price in India stood at Rs 6.03.

Litecoin (LTC) Price Today

Litecoin saw a 24-hour gain of 0.88 percent. At the time of writing, it was trading at $68.94. LTC price in India stood at Rs 5,905.01.

Ripple (XRP) Price Today

XRP price stood at $0.5758, seeing a 24-hour jump of 3.92 percent. As per WazirX, Ripple price stood at Rs 49.60.

Solana (SOL) Price Today

Solana price stood at $35.70, marking a 24-hour gain of 9.44 percent. As per WazirX, SOL price in India stood at Rs 2,950. 

Top Crypto Gainers Today (October 31)

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

THORChain (RUNE)

Price: $2.79
24-hour gain: 14.18 percent

BitTorrent(NEW) (BTT)

Price: $0.0000005062
24-hour gain: 13.37 percent

Solana (SOL)

Price: $35.78
24-hour gain: 9.27 percent

Arweave (AR)

Price: $5.69
24-hour gain: 9.01 percent

Cosmos (ATOM)

Price: $7.85
24-hour gain: 7.60 percent

Top Crypto Losers Today (October 31)

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

Render (RNDR)

Price: $2.46
24-hour loss: 4.31 percent

Axie Infinity (AXS)

Price: $5.60
24-hour loss: 3.97 percent

Injective (INJ)

Price: $13.53
24-hour loss: 3.91 percent

Neo (NEO)

Price: $8.96
24-hour loss: 2.89 percent

WOO Network (WOO)

Price: $0.2197
24-hour loss: 2.71 percent

What Crypto Exchanges Are Saying About Current Market Scenario

Mudrex co-founder and CEO Edul Patel told ABP Live, “Over the last 24 hours, Bitcoin has been trading around the $34,300 level as market participants await the US Federal Reserve's forthcoming decision on interest rates to be announced on Wednesday. To sustain its bullish momentum, Bitcoin will need to surpass the $34,700 resistance level, failing which it may find support near $34,000. Interestingly, today marks the 15th anniversary of the Bitcoin whitepaper's release, a milestone that coincides with Bitcoin's remarkable 108 percent price increase since the commencement of 2023. Ethereum, on the other hand, has been trading around $1800.”

Parth Chaturvedi, Investments Lead, CoinSwitch Ventures, said, “The crypto market has slightly pushed up in the last 24 hours, with global crypto M.Cap. rising by 0.5 percent to continue being above $1.3 trillion. The top 40 cryptos by M.Cap. seem to be in the green. BTC (+0.2 percent) seems to be consolidating within a short range of $34,000-$34,800. However, given its recent price rally, short-term BTC holders (less than 155 days) are participating in one of the strongest profit-taking events in the past couple of years. Considering the macro conditions unfolding, investors are hopeful to see a bullish trend take over.”

Rajagopal Menon, Vice President, WazirX, said, “Meme coins, notably PepeCoin, have witnessed impressive gains, doubling in value. Bitcoin, the pioneering crypto, also remains at the forefront of attention by trading near the $35,000 mark. On the other hand, Ethereum has also started its week by crossing the $1.8k mark and is maintaining its streak. This recent surge is partly attributed to growing optimism about SEC approval for the first U.S. Bitcoin ETF, potentially sparking a crypto influx.”

Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “In October, Bitcoin's remarkable 30 percent rise raised expectations of a long-awaited bull market in 2023. The crypto market, which held at $34,000 over the weekend, showed signs of investor greed with a Fear & Greed Index score of 72. The global crypto market capitalization reached 1, $26 trillion, up 0.85 percent in 24 hours, as positive sentiment and rising institutional interest played a pivotal role. This optimism revolves around the potential approval of the Bitcoin Spot ETF in the United States, further strengthened by the ProShares Bitcoin Strategy ETF (BITO) and significant trading activity in the Grayscale Bitcoin Trust (GBTC). Institutional interest in Bitcoin is growing, with Bitcoin-focused products accounting for 73.3 percent of the market and $23.2 billion in assets under management.”

Shivam Thakral, CEO of BuyUcoin, said, “The renewed interest in digital assets fuelled by growing number of Bitcoin ETF applications is pumping fresh capital in the digital asset market. The high possibility of Bitcoin ETF approval in the US is attracting interest from traders across the board and FOMO-driven trading is picking up pace. The open interest on Bitcoin options breached the at over $17 billion mark (as per glassnode data), exceeding the previous peak recorded during the 2021 bull run. BTC is sitting comfortably at $34,000 level while ETH is changing hands at around $1,800 mark at the time of writing.” 

CoinDCX Research Team told ABP Live, “In the last 24 hours, BTC has maintained its position above $34,000 mark, with ETH steadily trading at $1,800. From a technical perspective, as long as BTC remains above approximately $31,000, the market sentiment retains a bullish tone. Notably, crypto funds experienced their most substantial weekly inflow since July 2022, attracting over $326 million, as indicated by CoinShares data. Bitcoin-based funds took the lion's share, securing 90 percent of the total inflow, which amounted to $296 million.”

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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.