Cryptocurrency Price Today: Bitcoin Dips Below $28,000, Ethereum Loses $1,900 Mark

Cryptocurrency price on May 30 quick take: The global market cap dipped to $1.16 trillion.

Bitcoin price stood at $27,776.14 on Tuesday.

Source : Gerd Altmann/Pixabay

Bitcoin (BTC), the world’s oldest and most valued cryptocurrency, dipped below the $28,000 mark early Tuesday, Ethereum (ETH), followed suit, dipping below the $1,900 mark alongside. Other popular altcoins — including the likes of Dogecoin (DOGE), Ripple (XRP), Litecoin (LTC), and Solana (SOL) — saw a mix of minor gains and dips across the board. While the Optimism (OP) token became the top loser of the lot, with a 24-hour dip of over 6 percent, IOTA became the top gainer, with a 24-hour jump of over 8 percent. 

The global crypto market cap stood at $1.16 trillion at the time of writing, registering a 24-hour dip of 0.15 percent.

Bitcoin (BTC) Price Today

Bitcoin price stood at $27,776.14, registering a 24-hour dip of 0.41 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 24.30 lakh.

Ethereum (ETH) Price Today

ETH price stood at $1,898.02, marking a 24-hour jump of 0.10 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.67 lakh.

Dogecoin (DOGE) Price Today

DOGE registered a 24-hour loss of 0.46 percent, as per CoinMarketCap data, currently priced at $0.07273. As per WazirX, Dogecoin price in India stood at Rs 6.40.

Litecoin (LTC) Price Today

Litecoin saw a 24-hour jump of 0.58 percent. At the time of writing, it was trading at $91.09. LTC price in India stood at Rs 7,989.

Ripple (XRP) Price Today

XRP price stood at $0.5003, seeing a 24-hour gain of 4.33 percent. As per WazirX, Ripple price stood at Rs 43.99.

Solana (SOL) Price Today

Solana price stood at $20.81, marking a 24-hour jump of 0.95 percent. As per WazirX, SOL price in India stood at Rs 1,790.67. 

Top Crypto Gainers Today (May 30)

As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:

IOTA (MIOTA)

Price: $0.2169
24-hour gain: 8.25 percent

Injective (INJ)

Price: $7.52
24-hour gain: 7.75 percent

Lido DAO (LDO)

Price: $2.22
24-hour gain: 6.38 percent

Bitcoin SV (BSV)

Price: $34.39
24-hour gain: 4.46 percent

Ripple (XRP)

Price: $0.5008
24-hour gain: 4.46 percent

Top Crypto Losers Today (May 30)

As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:

Optimism (OP)

Price: $1.52
24-hour loss: 6.19 percent

Flare (FLR)

Price: $0.02454
24-hour loss: 5.12 percent

Huobi Token (HT)

Price: $3.20
24-hour loss: 4.13 percent

Casper (CSPR)

Price: $0.04965
24-hour loss: 4.05 percent

Conflux (CFX)

Price: $0.3125
24-hour loss: 3.59 percent

What Crypto Exchanges Are Saying About Current Market Scenario

Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin's price saw an initial increase that broke through the $28,000 resistance level on Monday. However, it has since experienced a slight decline of over 1 percent and is currently trading around $27,700. If the price manages to successfully break above $28,000, it could potentially reach the next resistance level at $28,500. Conversely, if it fails to surpass the $28,000 level, there is a possibility of a downward continuation towards $27,580. Despite a 5 percent decline in Bitcoin's price this month, it still maintains a significant 67 percent increase compared to the beginning of the year.”

Shubham Hudda from CoinSwitch said, “Crypto markets have experienced a slight correction in the last 24 hours. Global crypto market capitalisation is at $1.21 trillion, down ~1.2 percent since yesterday. The crypto fear and greed index remains in the neutral zone with 51 points, down 1 point. As the US debt ceiling discussions proceed, markets may experience volatility till the results of the final voting are announced.”

WazirX Vice President Rajagopal Menon said, “Bitcoin and Ethereum surged as US lawmakers resolved the debt ceiling stalemate, boosting market sentiment and ending the prolonged standoff between Democrats and Republicans. On WazirX, Cream Finance (CREAM) and Smooth Love Potion (SLP) have been the top gainers in the last 24 hours.”

Sathvik Vishwanath, CEO and co-founder of Unocoin said, “The current market price of Bitcoin is around $28,000, while the 50-day EMA is placed at $27,700, indicating an overbought market. If Bitcoin fails to break above $28,300, investors could engage in short selling targeting a drop to $27,500 and potentially further to $27,000. However, if Bitcoin breaks above $28,300 and closes above it, investors may consider taking long positions with the aim of reaching the initial resistance level at $29,000 and potentially $29,450. Ethereum is facing resistance around $1,922-$1,925 and the appearance of an inverted hammer candlestick suggests weakening bullishness.”

Shivam Thakral, the CEO of BuyUCoin, said, “The crypto market has absorbed the debt ceiling market rally as BTC retreated to the $27,000 level. The euphoria around the debt ceiling resolution resulted in a mini BTC and ETH rally on Monday, which created a positive sentiment within the crypto community. The current market scenario calls for a definitive direction around digital asset regulations for sustained momentum.” 

CoinDCX Research Team told ABP Live, “The crypto market witnessed a significant surge as Bitcoin (BTC) reached a three-week high, surpassing the $28,000 mark, following news of a potential agreement on the US government's debt ceiling. This development instilled a sense of relief among investors, leading to fresh buying of risk assets and injecting some much-needed liquidity. With a weekly gain of 6 percent, BTC's surge has propelled the total market capitalisation up by 3 percent to an impressive $1.18 trillion.”

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.