Cryptocurrency Price Today: Bitcoin Remains Below $26,000, KuCoin Token Becomes Top Gainer
Cryptocurrency price on June 16 quick take: The global market cap stood at $1.04 trillion.
Bitcoin (BTC), the oldest and the most valued cryptocurrency in the world, remained below the $26,000 mark on Friday. Other popular altocins — including the likes of Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Litecoin (LTC), and Solana (SOL) — saw a mix of gains and dips across the board. KuCoin Token (KCS) emerged to be the biggest gainer, with a 24-hour jump of over 13 percent. Hedera (HBAR), on the other hand, became the biggest loser, with a 24-hour dip of nearly 8 percent.
The global crypto market cap stood at $1.04 trillion at the time of writing, registering a 24-hour gain of 1.17 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $25,565.04, registering a 24-hour gain of 2.27 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 22.70 lakh.
Ethereum (ETH) Price Today
ETH price stood at $1,667.02, marking a 24-hour gain of 1.14 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.48 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour jump of 2.81 percent, as per CoinMarketCap data, currently priced at $0.06173. As per WazirX, Dogecoin price in India stood at Rs 5.54.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour gain of 3.04 percent. At the time of writing, it was trading at $75.19. LTC price in India stood at Rs 6,506.93.
Ripple (XRP) Price Today
XRP price stood at $0.4804, seeing a 24-hour dip of 0.23 percent. As per WazirX, Ripple price stood at Rs 42.90.
Solana (SOL) Price Today
Solana price stood at $14.80, marking a 24-hour loss of 0.70 percent. As per WazirX, SOL price in India stood at Rs 1,364.
Top Crypto Gainers Today (June 16)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
KuCoin Token (KCS)
Price: $6.91
24-hour gain: 13.34 percent
Stacks (STX)
Price: $0.532
24-hour gain: 10.33 percent
GMX (GMX)
Price: $46.99
24-hour gain: 6.51 percent
Immutable (IMX)
Price: $0.6123
24-hour gain: 6.15 percent
WOO Network (WOO)
Price: $0.1688
24-hour gain: 5.79 percent
Top Crypto Losers Today (June 16)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
Hedera (HBAR)
Price: $0.04246
24-hour loss: 7.90 percent
VeChain (VET)
Price: $0.01468
24-hour loss: 5.91 percent
Polygon (MATIC)
Price: $0.5894
24-hour loss: 5.38 percent
Polkadot (DOT)
Price: $4.38
24-hour loss: 4.79 percent
Tezos (XTZ)
Price: $0.7175
24-hour loss: 4.12 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin has surged above the $25,500 mark within the last 24 hours, recovering from a three-month low it hit on Wednesday. The filing of an application by BlackRock for a crypto-backed exchange-traded fund has driven BTC's gain of over 1 percent, effectively putting an end to its three-day losing streak. These developments have unfolded amidst the US Securities and Exchange Commission's legal actions against Binance and Coinbase. Currently, BTC has a support level set at $25,200 and a resistance level at $25,700. Despite a 6 percent decline in its month-to-date performance, Bitcoin has demonstrated remarkable year-to-date growth of 53 percent. Similarly, Ethereum has followed a similar trajectory, recording a 1 percent gain and trading above the $1,660 threshold.”
Parth Chaturvedi, Investments Lead, CoinSwitch Ventures, said, “The crypto fear and greed index has re-entered the neutral zone with a score of 47, after a 6-point jump. Barring TRX (-0.8 percent), all of the top 10 cryptos by market capitalization are either trading in the green or have shown no price action. BTC’s (+1.9 percent) positive price movement could be attributed to BlockRock’s decision to offer spot bitcoin ETFs with Coinbase as the crypto custodian. ETH, up 0.9 percent is currently trading around $1.6k. Despite a short respite in the market, it still seems to be edgy.”
Rajagopal Menon, Vice President, WazirX, offered his take, Bitcoin surged over 1.3 percent to surpass $25,700 following BlackRock's iShares filing for a spot Bitcoin ETF with the SEC. Despite previous declines due to central bank concerns and regulatory scrutiny, the announcement reignited hope for a BTC ETF, despite previous SEC rejections. In the past 24 hours, Reserve Rights (RSR) and Dusk Network (DUSK) have been the top gainers on WazirX."
Sathvik Vishwanath, CEO and co-founder, Unocoin said, “Bitcoin has seen a drop below the $25,000 mark and currently trading at $25,400 , facing further pressure from both regulatory measures and the influence of monetary policy. Central bankers have decided to keep interest rates at their current levels; however, they indicated their intention to implement further rate increases in the future.”
Shivam Thakral, the CEO of BuyUCoin, said, “The crypto market recovered from yesterday’s dip as selling pressure showed signs of cooling down. The rate hike pause announced by US Fed failed to cheer the market as Fed made it clear that it will not refrain from taking tough steps in the coming months to tackle inflation. We can expect the market to remain choppy if the hawkish stance on monetary policy continues.”
CoinDCX Research Team told ABP Live, “Bitcoin experienced a dip below the $25,000 mark for the first time in three months. The downward trend came shortly after the Federal Reserve's announcement of a pause in interest rates, triggering a 4 percent drop in the price of Bitcoin. While the decision to halt interest rate increases was anticipated by the market, the Federal Open Markets Committee's statement hinted at future rate hikes, dampening investor enthusiasm. The Federal Reserve's move to pause interest rates follows a 15-month-long campaign of rate increases aimed at combating rising inflation.”
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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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