Cryptocurrency Price Today: Bitcoin Manages To Rise Above $26,000 Despite Investors Remaining Cautious

Cryptocurrency price on August 24 quick take: The global market cap rose to $1.06 trillion.

Bitcoin price stood at $26,425.91 on Thursday.

Source : Eivind Pedersen/Pixabay

Bitcoin (BTC), the oldest and most valued cryptocurrency in the world, managed to recover the $26,000 mark early Thursday. Other popular altcoins — including the likes of Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Litecoin (LTC), and Solana (SOL) — saw minor gains across the board. Investors, however, remain cautious, as CoinMarketCap’s fear and greed index stands at 35 (out of 100). The Astar (ASTR) token emerged to be the biggest gainer of the lot, with a 24-hour jump of over 11 percent. Akash Network (AKT) became the biggest loser, with a 24-hour dip of over 3 percent. 

The global crypto market cap stood at $1.06 trillion at the time of writing, registering a 24-hour gain of 1.77 percent.

Bitcoin (BTC) Price Today

Bitcoin price stood at $26,425.91, registering a 24-hour jump of 1.72 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 23.20 lakh.

Ethereum (ETH) Price Today

ETH price stood at $1,674.08 marking a 24-hour gain of 2.63 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.47 lakh.

Dogecoin (DOGE) Price Today

DOGE registered a 24-hour jump of 2.04 percent, as per CoinMarketCap data, currently priced at $0.06383. As per WazirX, Dogecoin price in India stood at Rs 5.74.

Litecoin (LTC) Price Today

Litecoin saw a 24-hour gain of 1.40 percent. At the time of writing, it was trading at $65.68. LTC price in India stood at Rs 5,908.83.

Ripple (XRP) Price Today

XRP price stood at $0.5285, seeing a 24-hour jump of 1.68 percent. As per WazirX, Ripple price stood at Rs 47.05.

Solana (SOL) Price Today

Solana price stood at $21.78, marking a 24-hour gain of 5.75 percent. As per WazirX, SOL price in India stood at Rs 1,922.03. 

Top Crypto Gainers Today (August 24)

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

Astar (ASTR)

Price: $0.06694
24-hour gain: 11.25 percent

dYdX (DYDX)

Price: $2.18
24-hour gain: 11 percent

ImmutableX (IMX)

Price: $0.6129
24-hour gain: 7.81 percent

Frax Share (FXS)

Price: $6.16
24-hour gain: 7.47 percent

Render (RNDR)

Price: $1.48
24-hour gain: 7.30 percent

Top Crypto Losers Today (August 24)

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

Akash Network (AKT)

Price: $1.46
24-hour loss: 3.30 percent

Monero (XMR)

Price: $142.41
24-hour loss: 2.05 percent

XDC Network (XDC)

Price: $0.05354
24-hour loss: 0.71 percent

UNUS SED LEO (LEO)

Price: $3.84
24-hour loss: 0.68 percent

Curve DAO Token (CRV)

Price: $0.4664
24-hour loss: 0.65 percent

What Crypto Exchanges Are Saying About Current Market Scenario

Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin continues to trade above the $26,000 mark. This may be reflective of the market awaiting the outcome of the US Bitcoin-ETF decision. Ethereum remains trading above the $1,600 mark. Altcoins such as Stellar and Hedera have had significant growth of more than 5 percent within the past 24 hours. This renewed surge of interest in altcoins, including those related to artificial intelligence, might be driven by Nvidia's latest financial report. The AI and computer-chip giant declared Q2 revenue amounting to $13.51 billion, outperforming the consensus estimate of $11.19 billion.”

Shubham Hudda, Senior Manager, CoinSwitch Markets Desk, said, “The crypto market has picked up in the last 24 hours, with the global crypto market capitalization crossing the $1.10 trillion mark, up 1.6 per cent as per CoinGecko. Additionally, even though the crypto fear and greed index remains within the fear zone, it has jumped 4 points from yesterday to now stand at a score of 41/100.”

Rajagopal Menon, Vice President, WazirX, offered his take, “Bitcoin surged by 3 percent to cross $26,600, recovering from last week's losses. Ether also rose 3.5 percent, nearing $1,700. Analysts foresee a continued downtrend due to aligning technical and fundamental factors, resulting in softer prices. Recent market volatility, influenced by low liquidity and participation, highlights the challenge of higher prices. Sustainable Bitcoin growth may require increased market engagement. On WazirX, Verge (XVG) and Travala.com (AVA) have been the top gainers in the last 24 hours.”

Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “After falling 16 percent from the August high of $30,244 to $25,174, Bitcoin price appears to be supported near $25,174. If buying pressure builds above current levels, BTC may break above $27,300, then $28,722. An optimistic scenario could push it over $30,000, a 15 percent gain. RSI and AO histograms indicate bullish momentum, while sellers could regain control if RSI remains below 30 and AO remains negative. Ethereum rose 3 percent to find support at $1,627. Crossing RSI 30 means pullback. If it gets above $1,714, $1,891 and $2,000 can be targeted. Ripple's XRP faces uncertainty due to SEC issues. A break above $0.5752 could lead to $0.6840 with a target of $0.8193 for 55 percent upside. Bullish indicators include RSI and AO histograms.

Shivam Thakral, the CEO of BuyUCoin, said, “Despite the turbulence in the cryptocurrency market, today's statistics show a total 24-hour volume of $33.83 billion, representing a tiny decline of 0.82 percent. In terms of potential positive catalysts for a market that clearly needs one, Morehead points out that the favourable court decision from July regarding the XRP token for Ripple Labs and the ‘"endorsements’ from BlackRock, Fidelity, and other asset managers in the form of their spot bitcoin ETF applications all stand. A steady increase in price will result from a reduction in the quantity of new bitcoins while maintaining a consistent demand for them. Bitcoin is currently valued at $26,419.22 in this environment of change.” 

Subscribe And Follow ABP Live On Telegram: t.me/officialabplive

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.