Bitcoin (BTC), the most established and highly valued cryptocurrency globally, maintained its stability at $64,000 on Friday morning. Concurrently, various other popular alternative cryptocurrencies such as Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Solana (SOL), and Litecoin (LTC) exhibited positive performance, leading to a predominantly optimistic sentiment in the market, indicated by the Market Fear & Greed Index at 59 (signifying Greed) out of 100, according to data from CoinMarketCap. Notably, the Toncoin (TON) token emerged as the top performer with an impressive 24-hour surge of over 18 percent, while Maker (MKR) experienced the most significant decline with a 24-hour decrease exceeding 4 percent.
At the time of composition, the total market capitalization of the global cryptocurrency market reached $2.32 trillion, reflecting a notable 24-hour increase of 4.21 percent.
Current Bitcoin (BTC) Price
The price of Bitcoin stood at $64,551.01, demonstrating a 24-hour uptick of 5.60 percent as reported by CoinMarketCap. Meanwhile, on the Indian exchange WazirX, the price of BTC was noted at Rs 58.81 lakh.
Present Ethereum (ETH) Price
Ethereum’s price was recorded at $3,117.04, showcasing a 24-hour surge of 4.83 percent at the time of reporting. In India, the price of Ethereum on WazirX was Rs 2.82 lakh.
Dogecoin (DOGE) Price Analysis
DOGE exhibited a 24-hour increase of 6.57 percent, with its current price standing at $0.1543 based on CoinMarketCap data. In the Indian market, Dogecoin was priced at Rs 14.10 on WazirX.
Litecoin (LTC) Price Update
Litecoin demonstrated a 2.71 percent increase over the past 24 hours, reaching a trading value of $81.52. In India, LTC was valued at Rs 7,264.09.
Ripple (XRP) Price Movement
The price of XRP was $0.50, reflecting a 2 percent rise in the last 24 hours. In the Indian market, Ripple was trading at Rs 46.19 on WazirX.
Solana (SOL) Price Shift
Solana was priced at $144.03, showcasing a notable 24-hour gain of 10.28 percent. In India, the price of SOL on WazirX was Rs 13,000.
Top Performing Cryptocurrencies Today (April 19)
Based on CoinMarketCap data, the top five cryptocurrencies that experienced significant gains in the past 24 hours are as follows:
Toncoin (TON)
Price: $6.91 24-hour change: 18.50 percent
Neo (NEO)
Price: $19.26
24-hour change: 16.97 percent
dogwifhat (WIF)
Price: $2.70
24-hour change: 15.17 percent
Celestia (TIA)
Price: $10.90
24-hour change: 14.68 percent
Gala (GALA)
Price: $0.04573
24-hour change: 14.32 percent
Top Declining Cryptocurrencies Today (April 19)
According to CoinMarketCap data, the top five cryptocurrencies that faced losses in the last 24 hours are as follows:
Maker (MKR)
Price: $2,942.28 24-hour change: 7.77 percent
Core (CORE)
Price: $1.92
24-hour change: 7.46 percent
Chiliz (CHZ)
Price: $0.105
24-hour change: 6.79 percent
Nervos Network (CKB)
Price: $0.01957
24-hour change: 6.40 percent
Polygon (MATIC)
Price: $0.6533
24-hour change: 3.27 percent
Insights from Crypto Exchanges on the Current Market Environment
Edul Patel, the co-founder, and CEO of Mudrex, highlighted, “Bitcoin’s surge to \(60,000 amidst tensions between Israel and Iran has instigated risk aversion in the market. These geopolitical uncertainties have led to a flight to safety, impacting cryptocurrencies and US stocks. Additionally, Powell’s indication of delayed rate cuts has further fueled market anxiety. Bitcoin is currently eyeing the \)58,300 support level and the \(62,300 resistance level for potential recovery, while Ethereum has slipped below \)3,000.”
The CoinSwitch Markets Desk analysis stated, “With the Bitcoin halving event looming less than a day away, Bitcoin is testing the \(60k support level for the third time within a week. Market participants are anticipating a potential downturn, a common occurrence following previous Bitcoin halving events. Despite the overall crypto market cap trading at a slight discount of 2 percent from the previous day at \)2.2 trillion, attention is drawn towards the $2 trillion market cap as the next psychological support level. On the halving day of 4⁄20, DOGE could be a significant cryptocurrency to monitor, as April 20th is celebrated as Doge Day by many in the crypto community. DOGE is currently trading 5% lower than the previous day.”
Rajagopal Menon, Vice President of WazirX, commented, “Bitcoin (BTC) is currently facing turbulence, slipping below the \(60,000 support level amid tensions in the Middle East. Experiencing a 5.44% decline in a span of two hours, Bitcoin dropped to \)59,698 before recovering to \(61,352. A breach below \)59,000 could trigger $243 million in long liquidations. The geopolitical unrest, highlighted by explosions at the Isfahan airport, is intensifying the pressure on the market. The impending halving event is adding to the existing uncertainties, with the Fear and Greed Index plummeting by 13 points to 66.”
Sathvik Vishwanath, CEO, and co-founder of Unocoin, added, “Amidst volatile market conditions, the price of Bitcoin experienced a 1.74% decline, settling at \(60,547. Traders and analysts are closely monitoring the market trends for Bitcoin price predictions. Despite the downturn, Bitcoin maintains its dominance with a trading volume of \)40.55 billion and a market cap approaching \(1.19 trillion. Technical analysis suggests that Bitcoin is currently facing challenges, with a pivot point at \)62,216 and resistance levels at \(64,606, \)67,695, and \(70,959. Support levels are identified at \)59,418, \(56,271, and \)53,182. The Relative Strength Index (RSI) at 40 indicates potential oversold conditions, while the 50-day EMA at \(65,415 acts as a resistance point. The outlook for Bitcoin remains bearish below \)62,216, with a potential shift to a bullish sentiment upon breaching this threshold.”
Shivam Thakral, CEO of BuyUcoin, remarked, “The leading cryptocurrency globally is currently trading around \(62,000, serving as a temporary support level. Over the recent hours, Bitcoin long positions worth \)34.03 million have been liquidated. Despite this, the overall market sentiment remains bullish, as on-chain metrics reveal an accumulation of over $1.7 billion worth of BTC by holders in the past few days.”
The CoinDCX Research Team shared insights with ABP Live, stating, “In the last 24 hours, both Bitcoin (BTC) and Ethereum (ETH) witnessed a decline exceeding 3%, while several altcoins displayed a minor recovery. Most cryptocurrencies followed the trajectory set by BTC, resulting in an overall market decline. This downturn could be attributed to geopolitical tensions and the upcoming Bitcoin halving event, historically associated with heightened volatility. Negative ETF data has further influenced market sentiment. From a technical viewpoint, there is no clear indication of a reversal signaling bullish trends. However, historical patterns suggest that prices tend to rise in the weeks following a halving event. Therefore, considering the broader timeframe, the market sentiment remains optimistic.”
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