Crypto

Cryptocurrency Price Today: Bitcoin Crosses $71,000, NEO Becomes Top Gainer

Published

3 weeks ago

April 9, 2024

Cryptocurrency Price Today: Bitcoin Crosses $71,000, NEO Becomes Top Gainer

Bitcoin (BTC), the world’s oldest and most valued cryptocurrency, managed to climb above the $71,000 mark early Tuesday, inching closer to its all-time high of $73,000. Other popular altcoins — including the likes of Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Solana (SOL), and Litecoin (LTC) — landed in the greens across the board as the overall Market Fear & Greed Index stood at 79 (Greed) out of 100, as per CoinMarketCap data. The NEO token emerged as the biggest gainer of the lot, with a 24-hour jump of over 36 percent. Bitcoin Cash (BCH) became the biggest loser, with a 24-hour dip of nearly 2 percent.

The global crypto market cap stood at $2.68 trillion at the time of writing, registering a 24-hour jump of 3.53 percent.

Bitcoin (BTC) Price Today

Bitcoin price stood at $71,278.73, registering a 24-hour gain of 2.74 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 61.34 lakh.

Ethereum (ETH) Price Today

ETH price stood at $3,698.13, marking a 24-hour gain of 8.07 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 3.19 lakh.

Dogecoin (DOGE) Price Today

DOGE registered a 24-hour jump of 0.47 percent, as per CoinMarketCap data, currently priced at $0.1994. As per WazirX, Dogecoin price in India stood at Rs 17.40.

Litecoin (LTC) Price Today

Litecoin saw a 24-hour gain of 0.50 percent. At the time of writing, it was trading at $102.15. LTC price in India stood at Rs 8,800.

Ripple (XRP) Price Today

XRP price stood at $0.6157, seeing a 24-hour jump of 4 percent. As per WazirX, Ripple price stood at Rs 53.40.

Solana (SOL) Price Today

Solana price stood at $177.46, marking a 24-hour gain of 0.65 percent. As per WazirX, SOL price in India stood at Rs 15,947.85.

Top Crypto Gainers Today (April 9)

As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:

Neo (NEO)

Price: $20.63
24-hour gain: 36.46 percent

Toncoin (TON)

Price: $6.82
24-hour gain: 26.20 percent

Nervous Network (CKB)

Price: $0.03121
24-hour gain: 15.84 percent

Ethena (ENA)

Price: $1.33
24-hour gain: 13.89 percent

dogwifhat (WIF)

Price: $4.08
24-hour gain: 11.50 percent

Top Crypto Losers Today (April 9)

As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:

Bitcoin Cash (BCH)

Price: $677.01
24-hour loss: 1.82 percent

Wormhole (W)

Price: $0.9564
24-hour loss: 1.65 percent

Mantle (MNT)

Price: $1.42
24-hour loss: 1.54 percent

Core (CORE)

Price: $2.60
24-hour loss: 1.06 percent

ORDI (ORDI)

Price: $73.39
24-hour loss: 0.73 per cent

What Crypto Exchanges Are Saying About Current Market Scenario

Mudrex co-founder and CEO Edul Patel told ABP Live, “In the last 24 hours, Bitcoin has climbed above $71,000, indicating a bullish sentiment ahead of the halving event. This upward momentum hints at a possible revisit to the record high of $73,777, with a subsequent resistance level at $84,000. Over the past year, Bitcoin has surged by an impressive 154%. Conversely, Ethereum has outshone Bitcoin’s gains with an 8% increase in a day, fueled by heightened on-chain activity, and a staggering 99% rise over the past year, with the next resistance anticipated at $3,900.”

The CoinSwitch Markets Desk noted, “Bitcoin continues its uptrend with only 10 days remaining in the much-hyped Bitcoin halving estimated on 4/20/2024. If recent history has to be noticed, just before the Bitcoin ETF, we saw a similar price action where even though the price broke through the recent high, it became a sell-the-news event as soon as the ETF was announced. Traders should be careful about both bull and bear scenarios, as there is a good chance that some profit booking will take place at the time of halving as well.”

Rajagopal Menon, Vice President, WazirX, said, “Bitcoin is on an upward trajectory and its next resistance level is being anticipated at $72k. The 100-hourly Simple Moving Average demonstrates a strong bullish trend. Immediate resistance is observed near $72,000, followed by major barriers at $72,500 and $72,800. A decisive break above the $72,800 resistance level could initiate a fresh upward momentum in price. Now that the dollar liquidity is also crunched, the support might not fall below $71k, potentially leading to a new ATH. Analysts are also cautioning against a potential ‘sell the news’ event similar to how pre-halving market participants reacted.”

Shivam Thakral, CEO of BuyUcoin, said, “Bitcoin climbed to a high of $72,650 for the first time after a month. The largest cryptocurrency is making its path towards $73,000 with a dominance of 52.36%. Ethereum and other altcoins, memecoins in particular enjoyed a steady pump in the market. The next important level to break will be around the previous all-time high of $74,000 eyeing a new all-time high near halving.”

CoinDCX Research Team told ABP Live, “In the past day, the crypto market remained bullish, with both ETH and BTC gaining more than 5%, and ETH outperforming BTC. Technically, BTC surpassed the $72,000 mark and is now consolidating near the resistance level at $71,300. BTC needs to clear its all-time high level for further upside movement, with price action and indicators suggesting a bullish outlook. Meanwhile, ETH has shown stronger performance, surpassing a key level at $3,655 and currently trading slightly above it. A continuation from here could propel ETH above key resistance levels at $3,960 and $4,070. Additionally, the ETH/BTC pair saw an increase, aiding in altcoins gaining 5-10%.”

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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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Crypto

Cryptocurrency, Dogecoin, Shiba Inu price, Crypto price, XRP, BNB, Litecoin

Published

6 mins ago

May 2, 2024

Press Room

Cryptocurrency, Dogecoin, Shiba Inu price, Crypto price, XRP, BNB, Litecoin

Cryptocurrency Price on May 2: Bitcoin slides below $58,000 after Fed decides to keep rates steady

Bitcoin declined on Thursday after the US Federal Reserve decided to maintain interest rates unchanged and its indication that rate cuts might be delayed. Additionally, Bitcoin’s downward movement was influenced by a mixed launch of investment products tracking the world’s top cryptocurrency and rival ether in Hong Kong.

At 12.02 pm IST, Bitcoin was down 3.3% at $57,629, while Ethereum dropped by 1.5% to $2,920.

Crypto Tracker

Fed Chair Jerome Powell late on Wednesday said a rate hike was unlikely, but reiterated that a rate cut would be considered only if inflation in the economy eased further.Edul Patel, CEO of Mudrex, said, “Bitcoin trades at $57,000 mark in the past 24 hours following the US Federal Reserve’s decision to maintain its benchmark interest rate between 5.25% and 5.50%. Since late February, Bitcoin has experienced a downward trend, largely influenced by macroeconomic conditions and geopolitical uncertainties. The next support level lies at the $56,600 level and the resistance is at $58,800 level.Meanwhile, Vikram Subburaj, CEO of Giottus Crypto Platform, said, “Bitcoin registered a significant decline, dropping 4% today in response to macro and ecosystem developments. The move comes as Binance founder CZ received a 4-month prison sentence in the US, while the launch of spot ETFs in Hong Kong failed to excite investors.”The global cryptocurrency market cap declined by 2.4% to around $2.16 trillion in the last 24 hours.Other major crypto tokens such as BNB (-3.2%), Dogecoin (-3%), Toncoin (-4%), Shiba Inu (-0.2%), NEAR Protocol (-2.2%), and Uniswap (-0.5%) also fell. On the other hand, Solana, XRP, Cardano, and Polkadot surged up to 5%.

The volume of all stablecoins is now $98.61 billion, which is 92.67% of the total crypto market 24-hour volume, as per data available on CoinMarketCap.

In the last 24 hours, the market cap of Bitcoin, the world’s largest cryptocurrency, fell to $1.132 trillion. Bitcoin’s dominance is currently 52.53%, according to CoinMarketCap. BTC volume in the last 24 hours rose 29.5% to $49.6 billion.

“Technically, BTC is now more than 20% down from its all-time high. It’s currently testing support at $57,000, and a drop below that could lead to a further decline to the $52,000-$53,000 range, with no significant support in between. Similarly, ETH needs to hold above $2,900; otherwise, it may drop to the $2,700 level,” said CoinDCX Research Team.

Despite the downturn, the ETH/BTC pair remains strong, indicating relative strength in some altcoins, with a few even showing gains amidst BTC’s decline, although most are in the red, CoinDCX said.

(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Crypto

Arkansas lawmakers approve new restrictions on cryptocurrency mines after backlash over ‘23 law

Published

7 hours ago

May 1, 2024

Press Room

Arkansas lawmakers approve new restrictions on cryptocurrency mines after backlash over ‘23 law

LITTLE ROCK, Ark. (AP) — Arkansas lawmakers on Wednesday gave final approval to new restrictions on cryptocurrency mining operations after facing backlash for limiting local governments’ ability to regulate them last year.

The majority-Republican House overwhelmingly approved the Senate-backed measures, sending them to GOP Gov. Sarah Huckabee Sanders’ desk. The bills were among the few non-budget issues on the agenda for a legislative session lawmakers expect to wrap up Thursday.

The bills are intended to address complaints about a law passed last year on cryptocurrency mines, which are data centers requiring large amounts of computing power and electricity. Local officials and residents who live near the operations complained that last year’s law interfered with addressing complaints about the mines’ noise and impact on the community.

The measures require the facilities to apply noise-reduction techniques, and requires crypto mining businesses to get a permit from the state to operate. It also removes portions of the 2023 law that limited local governments’ ability to enact measures regulating the sound decibels generated by the facilities.

“Let’s do what we can to help those who have been impacted in a negative way, and work for better solutions,” Republican Rep. Rick McClure said before the vote.

Sponsors of the measure have described the bills as a stop-gap until lawmakers return for next year’s regular session and take up more comprehensive changes.

The legislation also prohibits businesses and individuals from several countries, including China, from owning crypto mining operations in the state.

Democratic Rep. Andrew Collins, who voted against both bills, said he was concerned about the way that limit was worded and the impact it could have on foreign investment.

“We’re casting a net that is both too wide and too narrow,” Collins said during a committee hearing on the bills Tuesday. “It’s going to catch people up who are totally innocent, and it’s going to miss a lot of people who are either home-grown or are from countries not on this list.”

Lawmakers passed the legislation as the House and Senate gave initial approval to bills detailing the state’s $6.3 billion budget for the coming year. Both chambers are expected to give final approval to that legislation Thursday.

Sanders plans to sign the crypto mining bills into law, her office said.