Today's Cryptocurrency Price: Bitcoin Drops To $64,000 While Major Coins Go Negative
Quick analysis of cryptocurrency prices on April 25: The market value increased to $2.46 trillion globally.
The oldest and most valuable cryptocurrency in the world, Bitcoin (BTC), fell as low as $64,000 early on Thursday. According to CoinMarketCap statistics, several well-known altcoins, such as Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Solana (SOL), and Litecoin (LTC), all received a negative rating. The Market Fear & Greed Index as a whole was 60 (Neutral) out of 100. With a gain of more than 4% in only one day, the EOS token was the largest riser of all. With a 24-hour decline of more than 34%, HBAR, which was the largest gainer yesterday, turned into the greatest loser today.
As of the time of writing, the value of the whole cryptocurrency market was $2.37 trillion, an increase of 3.54 percent in a day.
Price of Bitcoin (BTC) According to CoinMarketCap, the price of Bitcoin was $64,223.05 today, a decrease of 4.23 percent over the previous 24 hours. As to the Indian exchange WazirX, the current value of Bitcoin was Rs 58.30 lakh.
Ethereum Price (ETH) Now
At the time of writing, the price of ETH was $3,150.10, a decrease of 3.49 percent in only 24 hours. Ethereum's price in India was Rs 2.87 lakh, according to WazirX.
Price of Dogecoin (DOGE) According to CoinMarketCap statistics, DOGE saw a loss of 7.75% over the course of a day and is now trading at $0.1505. The price of Dogecoin in India was Rs 13.73, according to WazirX.
Price of Litecoin (LTC) Litecoin had a 3.24 percent 24-hour decline today. As of writing, its market value was $83.58. In India, the cost of LTC was Rs 7,500.
Price of Ripple (XRP) The price of XRP was $0.5264 today, down 4.49 percent in the last 24 hours. WazirX said that the price of ripple was Rs 47.
Solana (SOL) Cost Now
The price of Solana was $147.03, down 7.61 percent in a day. WazirX reports that the price of SOL in India was Rs 13,301.
Top Cryptocurrency Gainers of April 25,
The top five cryptocurrency gainers during the last 24 hours, according to CoinMarketCap statistics, are as follows:
EOS (EOS)
Cost: $0.8984
Gain in a day: 4.81 percent
Tron (TRX)
Cost: $0.11441
Gain in a day: 0.43 percent
UNUS SED LEO
Cost: $5.77
Gain in a day: 0.23 percent
BNB (BNB)
Cost: $606.55
Gain in a day: 0.02 percent
FLOKI (FLOKI)
Cost: $3.06
Gain in a day: 6.64 percent
Leading Crypto Losers as of April 25, 2019
The top five cryptocurrency losses during the last 24 hours, according to CoinMarketCap statistics, are as follows:
Hedera (HBAR)
Cost: $0.1139
Gain in a 24-hour period: 34.80%
Starknet (STRK)
Cost: $1.18
Gain in a day: 14.67 percent
dogwifhat (WIF)
Cost: $2.88
Gain in a 24-hour period: 14.21%
Bonk (BONK)
Cost: $0.00002343
Gain in a day: 13.37 percent
Worldcoin (WLD)
Cost: $4.82
Gain in a day: 13.18 percent
Cryptocurrency Exchanges' Remarks Regarding the Present Market Situation
"Over the past 24 hours, Bitcoin has been trading around the $64,000 mark, witnessing a surge in long liquidations," co-founder and CEO of Mudrex Edul Patel said on ABP Live. It has had trouble breaking past the $67,000 mark in recent days, despite efforts. A global rating agency's cautious comment on China, Israeli airstrikes, and muted business profits in the Middle East have all contributed to the pessimistic attitude. Nevertheless, purchasers have stepped in to support the lower levels of Bitcoin, allowing it to maintain above the critical $60,000 mark. Right now, $62,800 serves as Bitcoin's support level, while $66,100 serves as its resistance level.
"Bitcoin continues its downside movement for the second day straight as it went below the $64k mark before retracing above the same," the CoinSwitch Markets Desk said. The market leader has traded below $64k for the first time since the BTC halving, which is now five days old. Nonetheless, experts at Standard Chartered assert that the price movement is still positive. They also think that delays in the Ethereum ETF are probably going to occur.
"Bitcoin's recent decline has breached its critical support level of $65,000, initiating a correction phase," said Rajagopal Menon, Vice President of WazirX. At $64,223, it is somewhat less expensive than it was a day before. Complicating matters and reflecting larger market mood are the growing geopolitical tensions in the Middle East and the reattachment of the S&P 500 to fluctuations in the price of Bitcoin.The next expected support level is $61,000, and concerns about a larger drop remain due to the impact of increasing US interest rates on liquidity. But institutional investors are still buying Bitcoin via exchange-traded funds (ETFs).
Unocoin's CEO and co-founder, Sathvik Vishwanath, said, "Bitcoin price approaches $70,000 as institutional investment increases, indicating a market rebound." While new spot Bitcoin ETFs appear, Grayscale's GBTC now owns close to 300,000 bitcoins. In an effort to boost community involvement and expedite development, the Bitcoin Improvement Proposal (BIP) process is undergoing a metamorphosis with the addition of five new editors. In an effort to rival the US, Hong Kong introduces bitcoin and ether ETFs, using efficient in-kind buybacks. Despite little public involvement, Fidelity's Bitcoin ETF attracted record investment of $40 million, demonstrating institutional trust. With resistance at $67,687 and support at $63,654, the technical view places Bitcoin around $66,980, indicating a positive mood over $65,825. But a decline can start if this pivot point is broken.
"Bitcoin is struggling to maintain its upward momentum amid global tensions including crackdowns on crypto founders by the US DOJ," said Shivam Thakral, CEO of BuyUcoin. The sell-off from yesterday dropped Bitcoin below $64,000. Having lost the critical $65,000 support, we may now anticipate a short-term sell-off. When the ETF clearance process picks up pace, Ethereum, the second-largest cryptocurrency, may break over its resistance level of $34,000.
The CoinDCX Research Team said to ABP Live, "Today's crypto market faced a downturn due to worries concerning China's economic health and renewed conflict in the Middle East, which affected investor confidence." Slower inflows of ETFs also added to the pessimistic outlook. Before falling, the price of bitcoin hit $67000. It is presently trading just over $64000 and below the 20 and 50 EMA D. When ETH attempted to break over the critical $3200 mark, it ran into resistance around the 20 and 50 EMA D. The current happenings seem to be creating a mixed picture.
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