Cryptocurrency Price Today: Bitcoin Dips Below $27,000, Terra Classic Becomes Top Gainer

Cryptocurrency price on September 22 quick take: The global market cap dipped to $1.06 trillion.

Bitcoin price stood at $26,640.35 on Friday.

Source : Mohamed Hassan/Pixabay

Bitcoin (BTC), the world’s oldest and most valued cryptocurrency, dipped below the $27,000 mark. Ethereum (ETH) lost the $1,600 mark as well early Friday. The dips could largely be attributed to US Federal Reserve Chair Jerome Powell’s statement on the possibility of increasing interest rates. Popular altcoins — including the likes of Dogecoin (DOGE), Ripple (XRP), Solana (SOL), and Litecoin (LTC) — traded sideways across the board. Terra Classic (LUNC) went on to become the biggest gainer, with a 24-hour jump of over 5 percent. 

The global crypto market cap stood at $1.06 trillion at the time of writing, registering a 24-hour dip of 1.33 percent.

Bitcoin (BTC) Price Today

Bitcoin price stood at $26,640.35, registering a 24-hour loss of 1.53 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 23.02 lakh.

Ethereum (ETH) Price Today

ETH price stood at $1,594.62, marking a 24-hour dip of 1.73 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.39 lakh.

Dogecoin (DOGE) Price Today

DOGE registered a 24-hour loss of 2.01 percent, as per CoinMarketCap data, currently priced at $0.06164. As per WazirX, Dogecoin price in India stood at Rs 5.27.

Litecoin (LTC) Price Today

Litecoin saw a 24-hour gain of 0.25 percent. At the time of writing, it was trading at $65.06. LTC price in India stood at Rs 5,460.12.

Ripple (XRP) Price Today

XRP price stood at $0.513, seeing a 24-hour dip of 0.76 percent. As per WazirX, Ripple price stood at Rs 43.59.

Solana (SOL) Price Today

Solana price stood at $19.71, marking a 24-hour loss of 2.17 percent. As per WazirX, SOL price in India stood at Rs 1,700. 

Top Crypto Gainers Today (September 22)

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

Terra Classic (LUNC)

Price: $0.00006156
24-hour gain: 5.69 percent

THORChain (RUNE)

Price: $1.79
24-hour gain: 1.16 percent

Zcash (ZEC)

Price: $26.35
24-hour gain: 0.60 percent

UNUS SED LEO (LEO)

Price: $3.88
24-hour gain: 0.60 percent

Frax Share (FXS)

Price: $5.38
24-hour gain: 0.45 percent

Top Crypto Losers Today (September 22)

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

Immutable (IMX)

Price: $0.6684
24-hour loss: 9.75 percent

MultiversX (EGLD)

Price: $25.81
24-hour loss: 7.17 percent

Lido DAO (LDO)

Price: $1.49
24-hour loss: 5.47 percent

Gala (GALA)

Price: $0.01326
24-hour loss: 5.21 percent

XDC Network (XDC)

Price: $0.05158
24-hour loss: 5.06 percent

What Crypto Exchanges Are Saying About Current Market Scenario

Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin has been trading sideways in the past 24 hours, largely in response to statements made by US Federal Reserve Chair Jerome Powell regarding the prospect of raising interest rates. At the same time, market participants are digesting the US benchmark 10-year note yields, which have climbed to 4.49 percent — the highest since November 2007. Meanwhile, Ethereum's price has decreased but remains above the $1,550 mark.”

Parth Chaturvedi, Investments Lead, CoinSwitch Ventures, said, “Remarks by the US Feds on the monetary policy seem to have led to a sell-off within investors across markets, including crypto. As per CoinGecko, the global crypto M.Cap is down 1.5 percent but continues to be above $1 trillion. The crypto fear and greed index has re-entered the fear zone after dropping 4 points since yesterday. The index currently stands at a score of 43/100. The top 50 cryptos by M.Cap are trading in the red. BTC is down 1.6 percent in the last 24 hours and is currently trading below its support level of $27,000. ETH (-2.0 percent) too is trading below its support at $1,600.”

Rajagopal Menon, Vice President, WazirX, said, “Despite macro pressures, Bitcoin may gain support from ongoing spot Bitcoin exchange-traded fund (ETF) applications in the US, with a 70 percent probability of SEC approval in the next six months, potentially leading to a +20 percent price surge.”

Atulya Bhat, CMO, BuyUcoin, said, “Bitcoin slipped below the $27,000 mark after the Fed chief hinted toward tight monetary policy and higher interest rates may be prolonged to tame inflation. Higher interest rates may discourage borrowing activity and may result in liquidity crunch. ETH, the largest altcoin slipped below the $1600 mark during the same period and is changing hands at $1,593.24 at the time of writing.” 

Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “Bitcoin, currently at $26,645, endured a tumultuous episode at 11:34 UTC (7:34 ET). It witnessed a stunning drop from around $65,760 to a stunning low of $8,200. Remarkably, within just minutes, the cryptocurrency rebounded and almost regained its original value. Interestingly, this flash crash selectively rocked Binance.US and left traders confused. The spokesman attributed the chaos to an "institutional trader" and a glitch in their trading systems. The event underscores the volatile nature of Bitcoin, where breathtaking price swings can quickly disrupt markets. It serves as a vivid reminder of the unpredictable terrain of the cryptocurrency realm, where fortunes can change in an instant.”

CoinDCX Research Team told ABP Live, “In the last 24 hours, Bitcoin's price took a dip of 1.40 percent, now standing at Rs 23,65,000 ($26,600). This decline in the value of the bitcoin coincided with a drop in global stock markets. This occurred as investors responded to cautious remarks made by the US Federal Reserve regarding their monetary policies. Additionally, we saw an increase in the 10-year U.S. Treasury yields, reaching the highest point in 16 years. This change likely had an impact on how the overall financial markets were behaving.”

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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.