(Source: Dainik Bhaskar)
Cryptocurrency Price Today: Bitcoin Fails To Rise Above $26,000, VeChain Becomes Biggest Gainer
Cryptocurrency price on September 13 quick take: The global market cap remained at $1.03 trillion.
Bitcoin (BTC), the oldest and most valued cryptocurrency in the world, remained below the $26,000 mark early Wednesday. Popular altcoins — including the likes of Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Litecoin (LTC), and Solana (SOL) — saw a mix of dips and gains across the board. VeChain (VET) went on to become the biggest gainer, with a 24-hour jump of over 6 percent. Stellar (XLM) became the biggest loser, with a 24-hour dip of over 8 percent.
The global crypto market cap stood at $1.03 trillion at the time of writing, registering a 24-hour gain of 0.06 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $25,889.57, registering a 24-hour gain of 0.07 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 22.41 lakh.
Ethereum (ETH) Price Today
ETH price stood at $1,589.23., marking a 24-hour jump of 0.17 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.38 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour dip of 1.39 percent, as per CoinMarketCap data, currently priced at $0.0608. As per WazirX, Dogecoin price in India stood at Rs 5.30.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour loss of 0.74 percent. At the time of writing, it was trading at $59.85. LTC price in India stood at Rs 5,242.
Ripple (XRP) Price Today
XRP price stood at $0.4792, seeing a 24-hour gain of 0.03 percent. As per WazirX, Ripple price stood at Rs 41.52.
Solana (SOL) Price Today
Solana price stood at $17.83, marking a 24-hour loss of 2.01 percent. As per WazirX, SOL price in India stood at Rs 1,580.01.
Top Crypto Gainers Today (September 13)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
VeChain (VET)
Price: $0.01594
24-hour gain: 6.09 percent
Toncoin (TON)
Price: $1.78
24-hour gain: 5.02 percent
Bitcoin Cash (BCH)
Price: $197.98
24-hour gain: 4.11 percent
Bitcoin SV (BSV)
Price: $30.94
24-hour gain: 4.08 percent
TRON (TRX)
Price: $0.08038
24-hour gain: 2.63 percent
Top Crypto Losers Today (September 13)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
Stellar (XLM)
Price: $0.1198
24-hour loss: 8.09 percent
Astar (ASTR)
Price: $0.05539
24-hour loss: 7.98 percent
WOO Network (WOO)
Price: $0.1481
24-hour loss: 6.26 percent
Nexo (NEXO)
Price: $0.5318
24-hour loss: 5.93 percent
NEAR Protocol (NEAR)
Price: $1.07
24-hour loss: 4.87 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin's price has surged past $25,900, which may be because of renewed enthusiasm in the US Bitcoin Spot ETF competition. Franklin Templeton, a prominent asset management firm, recently submitted an application to the US SEC. This may have caused a bullish market sentiment. Interestingly, the count of wallets containing 0.1 BTC hit a historic peak of 12 million, suggesting increasing investor confidence in Bitcoin. Meanwhile, Ethereum has maintained its position near the $1600 level.”
Shubham Hudda, Senior Manager, CoinSwitch Markets Desk, said, “After a two-day decline of around 3.8 percent, Bitcoin (BTC) prices jumped as high as 5 percent, surpassing even $26,500 in the last 24 hours. The FTX court hearing is scheduled to come out today alongside the awaited inflation data. The forecast this time is an YoY increase of 3.6 percent which is more than the previous 3.2 percent. Increased inflation can be another bearish catalyst the crypto market might have to withstand.”
Rajagopal Menon, Vice President, WazirX, said, “Market data for Bitcoin indicates a ‘short squeeze’ which could be responsible for the price increase of the token in the last 24 hours. Ethereum faced a similar situation which increased the price of the token by 2.61 percent in the last 24 hours. The decreasing surface area of the Bollinger Bands for Bitcoin in the last 24 hours shows decreasing volatility for the token as compared to last week’s levels. If the CPI data, which is due today, stands on the lower side, the rate hikes by the Federal Reserve could see some relief.”
Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “Bitcoin technical analysis reveals strong bullish trend and breaks key resistance at $25,900. This resistance was earlier strengthened by a descending trendline on the four-hour time frame, but Bitcoin managed to break through it, reaching a high of $26,500. Now, this $26,500 level forms a double-top pattern that acts as significant resistance. It is currently moving slightly above the previous resistance, it has now turned support at $25,900. Primary technical indicators such as Relative Strength Index (RSI) and Moving Average of Convergence (MACD) indicate a favorable buying zone. Additionally, the 50-day exponential moving average supports a continued bullish trajectory as long as Bitcoin remains above $25,600. A decline below this level could test the support at $25,400 and the critical $24,950 level. Conversely, a break above the $26,500 resistance can target the $27,000 and $27,500 levels. In short, $26,500 is a pivotal point, with values below indicating bearish behaviour and values above indicating a potential bullish continuation.”
Shivam Thakral, the CEO of BuyUCoin, said, “The overall crypto market cap remained stable at $1.03 trillion as markets await key US inflation date. If inflation numbers show signs of cooling down, then we may see some relaxation in interest rates which are already at their peak due to continuous hikes by the Fed. We may see a knee-jerk reaction from the market if inflation numbers are higher than expected.”
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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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