Cryptocurrency Price Today: Bitcoin Briefly Dips Below $30,000, SUI Becomes Top Gainer
Cryptocurrency price on July 18 quick take: The global market cap stood at $1.21 trillion.
Bitcoin (BTC), the oldest and most valued cryptocurrency, briefly dipped below the $30,000 mark late Monday but managed to recover early Tuesday. Other popular altcoins — including the likes of Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Litecoin (LTC), and Solana (SOL) — landed in the reds across the board. The SUI token became the top gainer, with a 24-hour jump of over 10 percent. 1INCH, on the other hand, emerged to be the biggest loser, with a 24-hour loss of over 22 percent.
The global crypto market cap stood at $1.21 trillion at the time of writing, registering a 24-hour dip of 0.59 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $30,053.42, registering a 24-hour loss of 0.86 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 25.78 lakh.
Ethereum (ETH) Price Today
ETH price stood at $1,910.29 marking a 24-hour loss of 1.30 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.65 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour dip of 0.72 percent, as per CoinMarketCap data, currently priced at $0.06986. As per WazirX, Dogecoin price in India stood at Rs 6.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour loss of 1.09 percent. At the time of writing, it was trading at $92.29. LTC price in India stood at Rs 8,005.
Ripple (XRP) Price Today
XRP price stood at $0.7405, seeing a 24-hour dip of 2.10 percent. As per WazirX, Ripple price stood at Rs 63.
Solana (SOL) Price Today
Solana price stood at $26.51, marking a 24-hour loss of 5.04 percent. As per WazirX, SOL price in India stood at Rs 2,251.
Top Crypto Gainers Today (July 18)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
Sui (SUI)
Price: $0.7459
24-hour gain: 9.95 percent
Gala (GALA)
Price: $0.0274
24-hour gain: 8.01 percent
Flow (FLOW)
Price: $0.6646
24-hour gain: 7 percent
Chainlink (LINK)
Price: $7.14
24-hour gain: 6.59 percent
ApeCoin (APE)
Price: $2.09
24-hour gain: 3.61 percent
Top Crypto Losers Today (July 18)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
1inch Network (1INCH)
Price: $0.3916
24-hour loss: 22.47 percent
Lido DAO (LDO)
Price: $2.06
24-hour loss: 6.54 percent
BitDAO (BIT)
Price: $0.5116
24-hour loss: 6.20 percent
Solana (SOL)
Price: $26.51
24-hour loss: 5.58 percent
Maker (MKR)
Price: $930.60
24-hour loss: 5.34 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “In the past 24 hours, Bitcoin briefly fell to $29,679 before swiftly recovering and maintaining a level above $30,100. This consolidation in the market follows the gains it had made in the previous week. The current market slowdown can also be attributed to various factors, including uncertainties in the US, recent layoffs at Binance, and a slowdown in China's gross domestic product growth. Despite these challenges, bullish investors are actively working to ensure that Bitcoin remains above the $30,000 threshold. The current support level for Bitcoin is around $29,900, while resistance is observed at the $30,300 level. Meanwhile, Ethereum has demonstrated resilience by staying comfortably above the $1,900 mark without encountering significant declines.”
Shubham Hudda, Senior Manager, CoinSwitch Markets Desk, said, “Post XRP and MATIC surge last week, Ethereum Layer 2 scaling solutions have seen significant investor attraction as in the last five days, Arbitrum (ARB) is up by 18 percent and Optimism (OP) is up by 25 percent. Ethereum (ETH, -0.8 percent since yesterday), like BTC, has been majorly flat, however, seeing a modest 2 percent gain since Friday. Another major altcoin, providing real-world data through its decentralized oracles, Chainlink (LINK, +7.5 percent since yesterday) has launched a cross-chain interoperability protocol aimed to bridge blockchain and traditional finance by using the famous SWIFT's messaging infrastructure. DeFi protocols like SNX (-2.5 percent) and AAVE (-3.7 percent) can observe a gain in momentum due to this development.”
Rajagopal Menon, Vice President, WazirX, offered his take, “Bitcoin’s market oscillators continue to indicate a neutral sentiment as the ecosystem goes through a brief corrective action. FSB’s recommendations for Crypto companies have provided a much-needed regulatory assurance to an otherwise self-governed sector as well as consumers. XRP is witnessing new highs post the US court’s favourable verdict.”
Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “Bitcoin (BTC) retreated below the $30,000 level, hitting its lowest point since late June at $29,600. The roughly 6 percent pullback from last week's annual high of $31,800 was due to profit-taking after the news that XRP was not considered a security, boosting the crypto market. Concerns about Binance's financial health and its reported downsizing also weighed on sentiment. Despite this, Bitcoin found strong support around the $29,000 midpoint and has yet to break below its 21-day moving average, suggesting a potential upside. While the short-term bullish momentum is waning, the options market remains bullish and key topics such as regulation, XRP litigation and institutional adoption will remain important.”
Shivam Thakral, the CEO of BuyUCoin, said, “Bitcoin's price movement suggests investors are concerned about macroeconomic challenges and regulatory changes potentially pushing it below $29,000. The cryptocurrency market has grown 41.04 percent in volume, with the decentralized finance industry contributing significantly. Bitcoin maintains a price of $30,128.69, despite market fluctuations. Bitcoin quarterly futures trade at a premium, similar to BTC futures contracts, which typically trade at a 5 percent to 10 percent annualised premium in healthy markets.”
CoinDCX Research Team told ABP Live, “Bitcoin started the new week maintaining its position above $30,000 with the on-chain data indicating a re-accumulation phase among investors. This sentiment hints at an impending significant market move, although its precise direction remains uncertain. This week focuses on the upcoming tech firm earnings and jobless claims announcement on July 20, another major event looms on the horizon: the Federal Reserve's decision on interest rate hikes, which is still approximately two weeks away. As per the CME FedWatch Tool, 96 percent of the market sentiment remains convinced of an impending rate hike of 0.25 percent.”
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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.
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