Cryptocurrency Market Update
Bitcoin (BTC), the world’s oldest and most valuable cryptocurrency, Bitcoin Dips Below $37,000 experienced a dip below the $37,000 mark on Friday, breaking its streak once again. Other popular alternative coins, including Ethereum (ETH), Dogecoin (DOGE), Solana (SOL), Litecoin (LTC), and Ripple (XRP), all saw declines. Interestingly, the ETHDYDX token, which was the biggest gainer the previous day, turned out to be the biggest loser today with a 24-hour dip of nearly 9 percent. On the flip side, Kaspa (KAS) emerged as the biggest gainer, showing a 24-hour jump of over 17 percent.
Cryptocurrency Market Statistics: The global crypto market cap stood at $1.39 trillion at the time of writing, reflecting a 2.53 percent dip in the last 24 hours.
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Bitcoin (BTC) Price Update: Bitcoin Dips Below $37,000
Bitcoin’s price was at $36,408.95, registering a 2.65 percent dip in the last 24 hours. According to WazirX, the BTC price in India stood at Rs 31.51 lakh.
Ethereum (ETH) Price Update:
ETH price stood at $1,984.12, marking a 3.48 percent loss in the last 24 hours. In India, Ethereum’s price on WazirX was Rs 1.75 lakh.
Dogecoin (DOGE) Price Update:
DOGE registered a 6.47 percent jump in the last 24 hours, currently priced at $0.0815. In India, Dogecoin’s price on WazirX stood at Rs 7.08.
Litecoin (LTC) Price Update:
Litecoin saw a 4.25 percent dip in the last 24 hours, trading at $70.68. In India, LTC price stood at Rs 6,150.02.
Ripple (XRP) Price Update:
XRP’s price stood at $0.6206, reflecting a 4.69 percent loss in the last 24 hours. According to WazirX, Ripple’s price in India was Rs 53.87.
Solana (SOL) Price Update:
Solana’s price stood at $58.70, marking a 10.03 percent dip in the last 24 hours. In India, SOL price on WazirX stood at Rs 5,100.03.
Top Crypto Gainers Today (November 17):
- Kaspa (KAS)
- Price: $0.1324
- 24-hour gain: 17.44 percent
- Render (RNDR)
- Price: $3.15
- 24-hour gain: 15.03 percent
- Yearn.finance (YFI)
- Price: $13,543.12
- 24-hour gain: 14.54 percent
- Fantom (FTM)
- Price: $0.3568
- 24-hour gain: 8.62 percent
- Dogecoin (DOGE)
- Price: $0.08075
- 24-hour gain: 7.17 percent
Top Crypto Losers Today (November 17):
- dYdX (ETHDYDX)
- Price: $3.77
- 24-hour loss: 8.97 percent
- PancakeSwap (CAKE)
- Price: $2.53
- 24-hour loss: 8.76 percent
- Pepe (PEPE)
- Price: $0.00000115
- 24-hour loss: 8.39 percent
- MultiversX (EGLD)
- Price: $43.46
- 24-hour loss: 8.28 percent
- Immutable (IMX)
- Price: $1.14
- 24-hour loss: 7.50 percent
Crypto Exchanges’ Perspectives on the Current Market Scenario:
- Mudrex co-founder and CEO Edul Patel noted, “Bitcoin is consolidating around $36,500, and a bullish trend would require breaking $36,900 resistance or finding support at $35,800.”
- Parth Chaturvedi, Investments Lead at CoinSwitch Ventures, highlighted the positive US inflation data shifting investor sentiment towards risk-on assets.
- Rajagopal Menon, Vice President at WazirX, mentioned potential corrections in Bitcoin and Ethereum prices, with Ethereum seeing favorability after BlackRock spot ETF news.
- Sathvik Vishwanath, CEO of Unocoin, observed a sharp decline in Bitcoin and attributed it to profit booking after touching $38,000.
- Shivam Thakral, CEO of BuyUcoin, emphasized the positive market indicators despite the profit booking, expecting sustained momentum in the coming weeks.
CoinDCX Research Insights:
In the past 24 hours, both BTC and ETH experienced declines amid speculation of a delayed SEC decision on BTC spot ETF. Technical analysis suggests resilience in BTC in higher time frames, with ETH facing short-term downturns affecting altcoin prices.
Disclaimer:
Cryptocurrency products and NFTs are unregulated and risky. Readers are advised to seek expert advice and carefully read offer documents before investing. Cryptocurrency market predictions are speculative and subject to market risks.
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