Cryptocurrency Price Today: Bitcoin Dips Below $23,000 As Top Coins Land In Reds
Cryptocurrency price on January 31 quick take: The global market cap stood at $1.04 trillion early Tuesday morning.
Bitcoin (BTC), the world’s oldest and most popular crypto, slid below the $23,000 mark on early Tuesday morning. Ethereum (ETH), on the other hand, managed to remain stable within the $1,500 range. Other popular altcoins — including the likes of Dogecoin (DOGE), Litecoin (LTC), Ripple (XRP), and Solana (SOL) — mostly landed in the reds. The MINA token continued to remain the top gainer, with a 24-hour gain of over 11 percent. BitDAO (BIT) emerged to be the biggest loser, with a 24-hour dip of over 17 percent.
The global crypto market cap stood at $1.04 trillion at the time of writing, registering a 24-hour dip of 3.25 percent.
Bitcoin (BTC) price today
Bitcoin price stood at $22,859.43, registering a 24-hour dip of 3.69 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 19.51 lakhs.
Ethereum (ETH) price today
ETH price stood at $1,568.30, marking a 24-hour loss of 4.34 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.34 lakhs.
Dogecoin (DOGE) price today
DOGE registered a 24-hour gain of 1.91 percent, as per CoinMarketCap data, currently priced at $0.09127. As per WazirX, Dogecoin price in India stood at Rs 7.70.
Litecoin (LTC) price today
Litecoin saw a 24-hour gain of 0.79 percent. At the time of writing, it was trading at $95.79. LTC price in India stood at Rs 7,650.01.
Ripple (XRP) price today
XRP price stood at $0.3923, seeing a 24-hour dip of 5.28 percent. As per WazirX, Ripple price stood at Rs 33.48.
Solana (SOL) price today
Solana price stood at $24.02, marking a 24-hour loss of 5.73 percent. As per WazirX, SOL price in India stood at Rs 2,050.18.
Top crypto gainers today (January 31)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
Mina (MINA)
Price: $0.8594
24-hour gain: 11.64 percent
Dash (DASH)
Price: $61.70
24-hour gain: 8.10 percent
Dogecoin (DOGE)
Price: $0.09241
24-hour gain: 3.49 percent
Litecoin (LTC)
Price: $95.89
24-hour gain: 0.85 percent
ImmutableX (IMX)
Price: $0.6759
24-hour gain: 0.26 percent
Top crypto losers today (January 31)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
BitDAO (BIT)
Price: $0.4719
24-hour loss: 17.23 percent
Axie Infinity (AXS)
Price: $10.67
24-hour loss: 10.35 percent
Lido DAO (LDO)
Price: $2.07
24-hour loss: 9.05 percent
Flow (FLOW)
Price: $0.992
24-hour loss: 8.91 percent
Gala (GALA)
Price: $0.05316
24-hour loss: 8.82 percent
What crypto exchanges are saying about the current market scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin fell below the $23,000 level in the past 24 hours ahead of the first US Fed meeting of 2023 on interest rates which is to be held on Wednesday. Bitcoin was seen changing hands at the $22,800 level, down by 3 percent after reaching a high of $24,000 over the weekend. Support for BTC is now $22,700, and resistance is $23,000. Similarly, the second largest crypto, Ethereum, dropped 3 percent and fell below $1,600. Meanwhile, Dogecoin rose 5 percent due to Elon Musk advocating for crypto acceptance on Twitter's payment system. Volatility may persist in the market ahead of the Fed meeting and the Indian Union Budget release.”
Sathvik Vishwanath, CEO and co-founder of Unocoin said, “Bitcoin has breached $23,500 and may make new highs. It opened at $23,746 on January 30, fluctuated and is currently down 0.92 percent. Over the past week, it has seen a total increase of 2 percent with a high of $23,784 and a low of $23,110.”
Kunji founder Anurag Dixit offered his take, “The cryptocurrency markets have experienced a period of stability following decent growth this month, with some minor corrections. Apart from the upcoming federal reserve internet rate hike, earnings from big tech companies will have a significant impact on the tech market and indices. It is worth noting that while cryptocurrencies have demonstrated a degree of independence in recent months, fluctuations in indices such as the Nasdaq and S&P 500 still hold a substantial influence. In the remaining days of the week, the market will be closely observing the results of major tech company earnings, which are expected to have a notable effect."
Shivam Thakral, the CEO of BuyUCoin, said, “The US Fed meeting is keeping the investor on their toes as another rate hike. We can see the impact on the crypto market as Bitcoin is down by over 3 percent in the last 24 hours and Ethereum has slipped by over 4 percent during the same period. India’s Union Budget is another micro-level event that is lined up for tomorrow and any positive announcement around crypto regulations could bring some cheer to India’s booming crypto industry.”
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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