Cryptocurrency Price Today: Bitcoin Retreats From $28,500 Range As Market Awaits US Feds Decision On Rate Hikes
Custom Excerpt: Cryptocurrency price on March 21, quick take: The global crypto market cap stood at $1.16 Trillion on Tuesday morning.
Bitcoin (BTC) and Ethereum (ETH) — two of the most valued crypto coins — managed to stay above the $27,000 and $1,700 marks, respectively, on early Tuesday morning. Other popular altcoins — including the likes of Dogecoin (DOGE), Solana (SOL), and Litecoin (LTC) — landed in the red as overall prices saw a loss across the board. The XDC Network (XDC) token emerged to be the biggest gainer, seeing a 24-hour jump of over 20 percent. ImmutableX (IMX), on the other hand, turned out to be the biggest loser.
At the time of writing, the global crypto market cap stood at $1.16 Trillion, registering a 24-hour gain of 0.14 percent.
Bitcoin (BTC) price today
Bitcoin price stood at $27,833.65, seeing a 24-hour gain of 1.34 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 24.49 lakhs.
Ethereum (ETH) price today
ETH price stood at $1,741.50, marking a 24-hour loss of 1.04 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.51 lakhs.
Dogecoin (DOGE) price today
DOGE registered a 24-hour loss of 2.77 percent as per CoinMarketCap data, currently priced at $0.07165. As per WazirX, Dogecoin price in India stood at Rs 6.3887.
Litecoin (LTC) price today
Litecoin saw a 24-hour loss of 3.38 percent. At the time of writing, it was trading at $78.75. LTC price in India stood at Rs 6,959.98.
Ripple (XRP) price today
XRP price stood at $0.3831, seeing a 24-hour gain of 0.05 percent. As per WazirX, Ripple price stood at Rs 33.50.
Solana (SOL) price today
Solana price stood at $22.33, marking a 24-hour jump of 0.06 percent. As per WazirX, SOL price in India stood at Rs 2,043.
Top crypto gainers today (March 21)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
XDC Network (XDC)
Price: $0.04275
24-hour gain: 21.50 percent
Nexo (NEXO)
Price: $0.6852
24-hour gain: 7.09 percent
Stacks (STX)
Price: $1.20
24-hour gain: 5.98 percent
Flow (FLOW)
Price: $1.11
24-hour gain: 4.92 percent
MAGIC (MAGIC)
Price: $1.82
24-hour gain: 3.47 percent
Top crypto losers today (March 21)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
ImmutableX (IMX)
Price: $1.27
24-hour loss: 10.26 percent
Conflux (CFX)
Price: $0.3985
24-hour loss: 7.74 percent
BitTorrent(New) (BTT)
Price: $0.0000006123
24-hour loss: 6.86 percent
Loopring (LRC)
Price: $0.3394
24-hour loss: 6.51 percent
dYdX (DYDX)
Price: $2.47
24-hour loss: 6.40 percent
What crypto exchanges are saying about the current market scenario
Anurag Dixit, Founder of Kunji told ABP Live, "BTC has experienced a slight retreat from the $28,500 range, and the crypto market is currently in a state of anticipation as it awaits the Federal Reserve's decision on interest rate hikes. The impact of such a move has become increasingly significant, affecting numerous critical market structures. While initial probabilities indicated a 50-basis point hike, the current standing suggests a hike ranging from 0 to 25 basis points."
Mudrex co-founder and CEO Edul Patel said, "On Monday, most cryptocurrencies experienced a slight dip in value as investors waited for the upcoming interest rate decision from the U.S. central bank on Wednesday. Bitcoin initially traded above the US$28,000 mark after the announcement that the U.S. Federal Reserve had partnered with five other major central banks to guarantee the steady circulation of the U.S. dollar. However, Bitcoin's value has since declined somewhat and is currently traded at around US$27,800. Meanwhile, Ethereum is currently trading at the US$1,750 level."
Rajagopal Menon, Vice President, WazirX said, "Bitcoin and Ether are laying low, with Bitcoin down 0.63% to $27,805 and Ether down 2.5% to $1,741. The market is speculating on the impact of the Fed's decision to pause interest rate hikes due to stress on the banking system, with some seeing it as a bullish signal for bitcoin while others remain cautious."
Sathvik Vishwanath Co-Founder and CEO of Unocoin said, "The BTC/USD pair is currently in an uptrend with an initial hurdle at $27,740. If this resistance is successfully overcome, there is a potential for Bitcoin price to rise towards the $29,000 or $30,700 mark. However, if a decline occurs, the support levels around $26,600 and $25,200 are expected to remain firm."
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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