Cryptocurrency Price Today: Bitcoin, Ethereum Lose Value As Most Coins Land In Reds
Cryptocurrency price on January 27 quick take: The global market cap stood at $1.04 trillion on early Friday morning.
Bitcoin (BTC) and Ethereum (ETH), two of the most popular crypto coins, dipped below the $23,000 and $1,600 mark early Friday morning. Other popular altcoins — including the likes of Dogecoin (DOGE), Solana (SOL), Ripple (XRP), and Litecoin (LTC) — landed in the reds across the board. The Fantom (FTM) token emerged to be the biggest gainer of the lot, with a 24-hour gain of over 15 percent. On the other hand, Mina (MINA) became the top loser with a 24-hour dip of over 12 percent.
The global crypto market cap stood at $1.04 trillion at the time of writing, registering a 24-hour dip of 1.35 percent.
Bitcoin (BTC) price today
Bitcoin price stood at $22,795.57, registering a 24-hour dip of 1.47 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 19.50 lakhs.
Ethereum (ETH) price today
ETH price stood at $1,566.88, marking a 24-hour loss of 2.96 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.33 lakhs.
Dogecoin (DOGE) price today
DOGE registered a 24-hour dip of 1.88 percent, as per CoinMarketCap data, currently priced at $0.08477. As per WazirX, Dogecoin price in India stood at Rs 7.26.
Litecoin (LTC) price today
Litecoin saw a 24-hour loss of 2.60 percent. At the time of writing, it was trading at $86.89. LTC price in India stood at Rs 7,453.
Ripple (XRP) price today
XRP price stood at $0.4054, seeing a 24-hour dip of 1.40 percent. As per WazirX, Ripple price stood at Rs 34.33.
Solana (SOL) price today
Solana price stood at $23.71, marking a 24-hour loss of 4.15 percent. As per WazirX, SOL price in India stood at Rs 2,075.04.
Top crypto gainers today (January 27)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
Fantom (FTM)
Price: $0.4728
24-hour gain: 15.51 percent
eCash (XEC)
Price: $0.00004067
24-hour gain: 14.80 percent
Polygon (MATIC)
Price: $1.09
24-hour gain: 8.88 percent
Bitcoin SV (BSV)
Price: $44.75
24-hour gain: 7.41 percent
Threshold (T)
Price: $0.05444
24-hour gain: 5.91 percent
Top crypto losers today (January 27)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
Mina (MINA)
Price: $0.6549
24-hour loss: 12.39 percent
Lido DAO (LDO)
Price: $2.28
24-hour loss: 9.28 percent
Optimism (OP)
Price: $2.17
24-hour loss: 8.43 percent
ImmutableX (IMX)
Price: $0.6723
24-hour loss: 6.52 percent
Flow (FLOW)
Price: $1.00
24-hour loss: 0.02 percent
What crypto exchanges are saying about the current market scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “The past 24 hours remained volatile in the crypto market. Most cryptocurrencies underwent correction following the US economic data. Bitcoin declined to $22,800 after reaching the $23,000 level following Tesla's earning report. BTC's support now lies at $22,900, while the resistance is at $23,000. Similarly, Ethereum reached above $1,600 in the early hours of Thursday but has since dropped to around $1,500. Both Bitcoin and Ethereum were unable to maintain their upward momentum. The support for ETH now lies at $1,450 and resistance at $1,667 and $1,775.”
Sathvik Vishwanath, CEO and co-founder of Unocoin said, “Bitcoin is currently worth $23,072 with a 24-hour trading volume of $40 billion. It is facing resistance at $23,250 and could rise to $23,900 or $25,150, but if the support level at $22,325 is broken, a drop to $21,500 or $20,450 is possible.”
Kunji founder Anurag Dixit offered his take, “The release of US GDP numbers, which came in at 2.9 percent as opposed to the expected 2.6 percent, resulted in a slight upward movement in the cryptocurrency market. However, this rally was short-lived as the market was already showing signs of strength, and a retracement near the weekend was anticipated. The release of Personal Consumption Expenditures (PCE) data today, along with many other data releases this week, is expected to create a highly volatile market environment leading up to the next scheduled Federal Reserve interest rate hike next week."
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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