Cryptocurrency Price Today: Bitcoin Remains Above $28,000 Mark As Bitcoin SV Becomes Top Gainer
Cryptocurrency price on October 17, a quick take: The global crypto market cap stood at $1.09 trillion on Tuesday morning.
Bitcoin (BTC) and Ethereum (ETH) — two of the most valued crypto coins — managed to remain above the $28,000 and $15,000 marks, respectively, on early Tuesday morning. Other popular altcoins — including the likes of Litecoin (LTC), Solana (SOL)— landed in the positive as overall prices saw minor gains across the board. Bitcoin SV (BSV) emerged to be the biggest gainer, seeing a 24-hour jump of over 11.06 per cent. Loom Network (LOOM), on the other hand, turned out to be the biggest loser.
At the time of writing, the global crypto market cap stood at $1.09 trillion, registering a 24-hour gain of 2.36 per cent.
Bitcoin (BTC) price today
Bitcoin price stood at $28,235.68 seeing a 24-hour gain of 3.75 per cent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 24 lakhs.
Ethereum (ETH) price today
ETH price stood at $1,589.73, marking a 24-hour gain of 1.76 per cent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.36 lakhs.
Dogecoin (DOGE) price today
DOGE registered a 24-hour gain of 0.90 per cent as per CoinMarketCap data, currently priced at $0.05993. As per WazirX, Dogecoin price in India stood at Rs 5.2010.
Litecoin (LTC) price today
Litecoin saw a 24-hour gain of 2.23 per cent. At the time of writing, it was trading at $63.12. LTC price in India stood at Rs 5,379.51.
Ripple (XRP) price today
XRP price stood at $0.4925, seeing a 24-hour gain of 1.12 per cent. As per WazirX, Ripple price stood at Rs 42.2122.
Solana (SOL) price today
Solana price stood at $24.19, marking a 24-hour gain of 9.09 per cent. As per WazirX, SOL price in India stood at Rs 2,042.24.
Top crypto gainers today (October 17)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
Bitcoin SV (BSV)
Price: $37.55
24-hour gain: 11.06 per cent
Solana (SOL)
Price: $24.11
24-hour gain: 8.91 per cent
Render (RNDR)
Price: $1.87
24-hour gain: 6.98 per cent
Bitcoin Cash (BCH)
Price: $227.48
24-hour gain: 4.66 per cent
IOTA (IOTA)
Price: $0.1513
24-hour gain: 4.25 per cent
Top crypto losers today (October 17)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
Loom Network (LOOM)
Price: $0.295
24-hour loss: 25.40 per cent
Trust Wallet Token (TWT)
Price: $1.03
24-hour loss: 6.83 per cent
THORChain (RUNE)
Price: $1.59
24-hour loss: 4.07 per cent
UNUS SED LEO (LEO)
Price: $3.67
24-hour loss: 3.83 per cent
Maker (MKR)
Price: $1,400.04
24-hour loss: 3.81 per cent
What Crypto Exchanges Are Saying On Present Market Scenario
Shivam Thakral, CEO of BuyUcoin, said, “The crypto market witnessed unexpected movement on Monday after a rumor circulated in the digital world that the SEC had approved Blackrock’s Bitcoin ETF. The Bitcoin process jumped by almost 10% touching the $30,000 mark while ETH also witnessed a similar jump during the period.”
He further said, “The rally was quickly restricted after Blackrock denied any such approval from the SEC and BTC slipped back to the $28,000 level. The market saw liquidations worth $85 million (as per coinglass data) in the past 24 hours.”
Rajagopal Menon, Vice President, WazirX, said, “Bitcoin encountered significant price volatility, initially spiking from $27,900 to $30,000 following a false rumor on the social app X, wrongly suggesting the approval of a spot ETF. This sparked nearly $80 million in liquidations but soon receded to $28,000 as analysts questioned the report's validity, ultimately confirmed as false by BlackRock.”
Shubham Hudda, Senior Manager, CoinSwitch Markets Desk, said, “Yesterday was a very interesting day to trade Bitcoin as BTC (+4.3%) saw a 70-day high in price. This happened alongside a massive 65 million dollars worth of liquidation in close to 15 minutes as a major crypto news publisher CoinTelegraph reported that the Blackrock Bitcoin ETF has been approved by the SEC.”
He added, “However, shortly after, Blackrock clarified that their application is still under review. In a later post by Cointelegraph, the publication apologized for the misreporting and informed that an internal investigation had been initiated.”
The CoinDCX Research Team said, “Bitcoin's price spiked toward ₹25,80,000 ($30,000) due to a misleading post on X (formerly Twitter) by the crypto news site Cointelegraph, falsely claiming a spot Bitcoin ETF approval. This led to $100 million in liquidations. BlackRock and other sources promptly debunked the claim, and Cointelegraph later issued an apology for spreading inaccurate information. Subsequently, Bitcoin returned to ₹24,48,000 ($28,000) and currently holds slightly above that level.”
Mudrex co-founder and CEO Edul Patel told ABP Live, “The price of Bitcoin initially touched $30,000 before settling around $28,000 in the last 24 hours. This turbulence was triggered by false information on X (formerly Twitter), suggesting that the SEC had approved Blackrock's spot ETF application. As a result, this misinformation prompted liquidations of around $100 million. Bitcoin has now seen impressive year-to-date growth of 71.31%.”
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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