Bitcoin (BTC), the most established and highly valued cryptocurrency globally, experienced a decline below the \(65,000 threshold early on Monday due to increased liquidations among investors triggered by the escalating Iran-Israel conflict. BTC plummeted to as low as \)62,000 on Sunday. Conversely, other popular alternative coins such as Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Solana (SOL), and Litecoin (LTC) managed to rebound today, buoyed by the Market Fear & Greed Index currently indicating a sentiment of 65 (Greed) out of 100, based on CoinMarketCap data. Among these, the NEO token emerged as the top performer with an impressive 24-hour surge of over 18 percent, while JASMY suffered the most significant loss with a 24-hour decline exceeding 4 percent.
The total market capitalization of the global cryptocurrency market reached $2.36 trillion at the time of this report, reflecting a 2.29 percent increase over the past 24 hours.
Current Bitcoin (BTC) Price
The price of Bitcoin was recorded at $64,965.38, showing a 24-hour gain of 1.60 percent according to CoinMarketCap. On the Indian exchange WazirX, BTC was priced at Rs 61.92 lakh.
Current Ethereum (ETH) Price
Ethereum was trading at $3,139.01, marking a 3.26 percent increase in the last 24 hours. In India, the price of Ethereum on WazirX stood at Rs 2.98 lakh.
Current Dogecoin (DOGE) Price
DOGE exhibited a 2.48 percent increase over the past 24 hours, with its price at $0.1582. In India, Dogecoin was priced at Rs 15.15 on WazirX.
Current Litecoin (LTC) Price
Litecoin recorded a 1.86 percent gain in the last 24 hours, trading at $78.56. The price of LTC in India stood at Rs 7,475.28.
Current Ripple (XRP) Price
The price of XRP was $0.4985, reflecting a 3.61 percent increase in the last 24 hours. In India, Ripple was priced at Rs 46.63 on WazirX.
Current Solana (SOL) Price
Solana was valued at $148.40, showing a 6.15 percent increase in the last 24 hours. In India, the price of SOL on WazirX stood at Rs 14,249.99.
Top Performing Cryptocurrencies Today (April 15)
Based on CoinMarketCap data, here are the top five cryptocurrencies that gained the most in the last 24 hours:
Neo (NEO)
- Price: $19.67
- 24-hour gain: 18.95 percent
Ondo (ONDO)
- Price: $0.8909
- 24-hour gain: 18.36 percent
AIOZ Network (AIOZ)
- Price: $0.6803
- 24-hour gain: 17.15 percent
Pendle (PENDLE)
- Price: $6.60
- 24-hour gain: 16.13 percent
dogwifhat (WIF)
- Price: $2.83
- 24-hour gain: 15.69 percent
Top Declining Cryptocurrencies Today (April 15)
According to CoinMarketCap data, here are the top five cryptocurrencies that experienced the most significant losses in the last 24 hours:
JasmyCoin (JASMY)
- Price: $0.01861
- 24-hour gain: 4.55 percent
ORDI (ORDI)
- Price: $45.95
- 24-hour gain: 2.14 percent
Celestia (TIA)
- Price: $10
- 24-hour gain: 1.60 percent
Pepe (PEPE)
- Price: $0.000005204
- 24-hour gain: 0.58 percent
KuCoin Token (KCS)
- Price: $8.72
- 24-hour gain: 0.02 percent
Insights from Crypto Exchanges on the Current Market Conditions
Edul Patel, the co-founder and CEO of Mudrex, mentioned to ABP Live that Bitcoin witnessed a drop to \(62,000 before recovering to \)65,000 during the weekend. This fluctuation was primarily influenced by increased liquidations and escalating geopolitical tensions between Iran and Israel. Patel highlighted that Bitcoin is currently trading within a range of \(60,000 to \)73,000, with bullish investors defending the \(60,775 level. He also pointed out that Bitcoin faces immediate resistance at \)67,900 and support at $64,500.
Parth Chaturvedi, Investments Lead at CoinSwitch Ventures, commented on the recent market dip caused by the Israel-Iran conflict, stating that the markets are showing signs of recovery. He emphasized the importance of Bitcoin maintaining the \(65,000 level to avoid a bearish trend reversal. Chaturvedi also highlighted positive technical indicators for Ethereum, suggesting a potential price surge beyond \)6,000.
Rajagopal Menon, Vice President at WazirX, noted the dominance of Bitcoin around $65,000 while observing turbulent movements among altcoins, indicating unique market dynamics. He pointed out the unusual behavior of Bitcoin not hitting all-time highs before its halving, suggesting significant investor interest and limited supply. Menon highlighted erratic movements in altcoins like Ethereum, Cardano, Chainlink, and Solana, which deviated from historical trends post-Bitcoin halving.
Sathvik Vishwanath, CEO and co-founder of Unocoin, highlighted the rebound of Bitcoin by 3.9% to $64,400 following a sharp selloff triggered by escalating tensions in the Middle East. He mentioned the surge in smaller coins like Polkadot and Uniswap by more than 10% in response to Iran’s attack on Israel. Vishwanath emphasized the heightened volatility in the market due to the conflict and the anticipation surrounding the upcoming bitcoin halving.
Shivam Thakral, CEO of BuyUcoin, discussed the high volatility in the crypto market that led to liquidations of around \(1.5 billion futures longs when Bitcoin slipped below \)60,000 over the weekend. Thakral highlighted the rebound of Bitcoin above $65,000 following news of a spot ETF approval from Hong Kong regulators, which could potentially restore the momentum seen in January 2024.
The CoinDCX Research Team informed ABP Live about the recent decline in the crypto market due to escalating tensions between Iran and Israel, with Bitcoin dropping to \(60,700 and Ethereum to \)2,850. They emphasized the importance of monitoring today’s ETF data and the market reaction upon the opening of the US market. Additionally, they pointed out key support levels for Bitcoin and Ethereum, suggesting potential increased volatility with the approaching Bitcoin halving.
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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.