Cryptocurrency Price Today: Bitcoin Dips Below $30,000 As Top Coins See Bloodbath
Cryptocurrency price on April 20 quick take: The global market cap dipped to 1.21 trillion.
Bitcoin (BTC), the oldest and most valued crypto in the world, lost the $30,000 mark and slipped down to around $28,000. The slump is believed to have been caused by the release of the latest UK inflation figures which were beyond expectations, possible rate hikes by the US Fed, as well as the US SEC’s increased crackdown on crypto firms. Other popular altcoins — including the likes of Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), and Litecoin (LTC) — landed in the reds across the board. BTT emerged to be the biggest gainer of the lot, with a 24-hour gain of over 8 percent.
The global crypto market cap stood at $1.21 trillion at the time of writing, registering a 24-hour dip of 5.22 percent.
Bitcoin (BTC) price today
Bitcoin price stood at $28,833.48, registering a 24-hour loss of 4.60 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 25.58 lakh.
Ethereum (ETH) price today
ETH price stood at $7,948.47, marking a 24-hour dip of 6.84 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.73 lakh.
Dogecoin (DOGE) price today
DOGE registered a 24-hour loss of 4.23 percent, as per CoinMarketCap data, currently priced at $0.0893. As per WazirX, Dogecoin price in India stood at Rs 7.78.
Litecoin (LTC) price today
Litecoin saw a 24-hour dip of 10.21 percent. At the time of writing, it was trading at $90.52. LTC price in India stood at Rs 7,900.
Ripple (XRP) price today
XRP price stood at $0.4943, seeing a 24-hour loss of 6 percent. As per WazirX, Ripple price stood at Rs 42.60.
Solana (SOL) price today
Solana price stood at $22.83, marking a 24-hour dip of 7.60 percent. As per WazirX, SOL price in India stood at Rs 2,033.99.
Top crypto gainers today (April 20)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
BitTorrent(New) (BTT)
Price: $0.0000006827
24-hour gain: 8.73 percent
Synthetix (SNX)
Price: $3.01
24-hour gain: 1.08 percent
Gemini Dollar (GUSD)
Price: $1.01
24-hour gain: 0.15 percent
Dai (DAI)
Price: $0.9998
24-hour gain: 0.02 percent
Binance USD (BUSD)
Price: $1.00
24-hour gain: 0.02 percent
Top crypto losers today (April 20)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
SingularityNET (AGIX)
Price: $0.3788
24-hour loss: 13.45 percent
Conflux (CFX)
Price: $0.3202
24-hour loss: 12.69 percent
dYdX (DYDX)
Price: $2.78
24-hour loss: 12.05 percent
Internet Computer (ICP)
Price: $6.14
24-hour loss: 12.03 percent
Frax Share (FXS)
Price: $8.87
24-hour loss: 11.93 percent
What crypto exchanges are saying about the current market scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin experienced a dip below the $29,000 mark in the last 24 hours following the release of UK inflation figures that surpassed expectations. The figures showed a 10.1 percent increase in the 12-month period, bringing BTC to its lowest point since April 10th, with a significant support level at $28,500. Ethereum, on the other hand, experienced a 7 percent decline within the same period and is currently trading at the $1,900 level. As is typical in the market, unexpected events prompt a risk-averse response from investors, causing them to shift away from high-risk assets. It may take a while for traders and investors to gauge the potential impact of the inflation data and recover from the incident.”
WazirX Vice President Rajagopal Menon said, “BTC slipped down to $28,000 amidst US SEC’s increased crackdown on crypto, possible rate hikes by the Fed, and an uncertainty among investors towards digital assets. ETH slid by 7 percent after a bullish phase following Shanghai Upgrade. On WazirX, FTX token was the highest gainer. This comes after VC firm Tribe Capital offered a $250 million deal to help the exchange get back on track.”
Sathvik Vishwanath, CEO and co-founder of Unocoin said, “The current Bitcoin price is $28,600 with a 24-hour trading volume of $19 billion. The price has decreased by 2.30 percent in the last 24 hours, but the BTC/USD pair is showing a bearish trend and had broken immediate support at $29,200. If this support level is breached, the price could potentially drop to $28,750. On the upside, immediate resistance is expected at $29,800, while further buying could push the price towards $30,600.”
Shivam Thakral, the CEO of BuyUCoin, said, “After witnessing a minor downward trend, BTC rebounded above the critical $30,000 mark as the positive sentiment around Defi continues to grow. ETH once again touched the $2,100 mark but faced some resistance and pulled back to the $2,095 level. The current rally in the crypto market is driven by macro factors and its momentum depends on the favourable factors surrounding the financial markets.”
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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