Bitcoin (BTC), the world’s oldest and most valuable cryptocurrency, briefly managed to reach the $67,600 level after settling around $66,900 early Wednesday. Other popular altcoins such as Ethereum (ETH), Dogecoin (DOGE), Solana (SOL), Ripple (XRP), and Litecoin (LTC) landed in the green across the board as the overall market fear and greed index rose. . According to CoinMarketCap data, it has a score of 58 out of 100 (neutral). Ethena (ENA) token was the biggest gainer, rising nearly 8% in 24 hours. SUI was the biggest loser, losing more than 9% in 24 hours.
At the time of writing, the global cryptocurrency market capitalization was $2.31 trillion, an increase of 1.40% in 24 hours.
Bitcoin (BTC) price today
According to CoinMarketCap, Bitcoin price was $66,941.08, up 2.03% in 24 hours. According to Indian exchanges, the BTC price stood at Rs 53.02 million.
Ethereum (ETH) price today
ETH price was $2,608.48, down 0.31% in 24 hours at the time of writing. Ethereum price in India was 206,000 rupees.
Dogecoin (DOGE) price today
According to data from CoinMarketCap, DOGE recorded a loss of 0.35% in 24 hours and is currently priced at $0.1166. Dogecoin price in India was Rs 9.48.
Litecoin (LTC) price today
Litecoin rose 6.91% in 24 hours. At the time of writing, it was trading at $71.77. The LTC price in India was Rs 5,714.78.
Ripple (XRP) price today
XRP price was $0.5414, down 1.45% in 24 hours. Ripple price in India was 45.29 rupees.
Solana (SOL) price today
Solana’s price was $153.57, down 1.58% in 24 hours. SOL price in India was Rs 12,233.13.
Top crypto earners today (October 16th)
According to data from CoinMarketCap, the top 5 cryptocurrencies that gained in the past 24 hours are:
Ethena (ENA)
Price: $0.4393
24 hour increase: 7.98 percent
Litecoin (LTC)
Price: $71.71
24 hour increase: 7.31%
Phantom (FTM)
Price: $0.7637
24 hour increase: 5.11%
BEAM
Price: $0.01723
24 hour increase: 4.94 percent
Bitcoin SV (BSV)
Price: $51.70
24 hour increase: 4.66%
Top Cryptocurrency Losers Today (October 16th)
According to CoinMarketCap data, the top 5 crypto losers in the past 24 hours are:
Sui (SUI)
Price: $2
24 hour loss: 9.90 percent
First color on Ethereum (NEIRO)
Price: $0.001959
24 hour loss: 8.46 percent
Brett (Bass) (BRETT)
Price: $0.1046
24 hour loss: 7.70 percent
Pop Cat (SOL) (Pop Cat)
Price: $1.26
24 hour loss: 7.54 percent
Sei (SEI)
Price: $0.4469
24 hour loss: 6.86 percent
What crypto exchanges are saying about the current market scenario
“Bitcoin experienced sharp price fluctuations, surging to $67,600 before falling to $64,900 within two hours due to profit taking,” Mudrex co-founder and CEO Edul Patel told ABP Live. However, buyers quickly seized the opportunity and pushed BTC back to $67,200. Fueled by expectations for currency-friendly regulations, increased inflows into Bitcoin ETFs with a net value of over $19 billion also contributed to the bullish mood, while BlackRock’s positive outlook and Standard Chartered’s BTC rise to 73,000. Predictions of reaching the dollar added further momentum. Bitcoin is currently facing resistance at $67,900, with support at $65,000.
CoinSwitch Market Desk said, “Bitcoin prices excited traders on Tuesday, surging to a nearly three-month high of $67,950, before falling back to the $65,000 range, before falling to $67,000. It has rebounded to a level that exceeds that.” This rollercoaster move has left BTC up 9% over the past week. Analysts, including Standard Chartered’s Jeff Kendrick, point to political factors such as President Donald Trump’s growing campaign momentum as a possible driver of the recent rally. Polymarket currently gives Trump a 58% chance of winning, the highest probability since Joe Biden withdrew from the race. ”
Satvik Vishwanath, CEO and co-founder of Unocoin, said: “Buoyed by hopes of bipartisan support in the US government, Bitcoin surges 5.36% to 66,000 for the first time in 15 sessions. We got our dollars back.” On Columbus Day, inflows into the US BTC Spot ETF surged to $476.4 million, driven by Kamala Harris’ remarks and overall optimism. However, despite strong interest in the ETF, concerns remain about the potential oversupply risk from the US government’s 203,000 BTC stockpile, which could put downward pressure on Bitcoin prices in the future. Investors should closely monitor market dynamics as they change amid these developments. ”
“Investor enthusiasm and political developments drove market activity, pushing Bitcoin above the $67,000 level,” said Shivam Thakral, CEO of BuyUcoin. The largest inflow into Bitcoin ETFs was $556 million, indicating significant interest from institutional investors.Vice President Kamala Harris’ recent campaign speech did not mention the cryptocurrency in detail. However, continued debate over regulatory clarity is boosting market confidence. Bitcoin’s future remains bright, and as the end of the year approaches, more investors are looking to gain exposure to the digital asset. We are likely to see further upward momentum.”
“Bitcoin price rose 8% from October 14th to 15th and was trading at $67,288 as of October 16th,” said Avinash Shekhar, co-founder and CEO of Pi42. With $38 billion in open interest, demand for Bitcoin futures has surged to an all-time high. Over the past 24 hours, $304 million in holdings were liquidated, including $182.77 million long and $121.29 million short. Meanwhile, Ethereum is trading at $2,622, indicating a bullish trend, but Ethereum has seen a 23% decline in on-chain decentralized application (DApp) activity, which is a cause for concern for the market. ”
The CoinDCX research team told ABP Live: “Bitcoin has broken out of a bearish pattern, which suggests a bull market could be starting just a step away from the all-important resistance at $68,200. “I’m working on it,” he said. The move followed a prolonged holdover of more than seven months in a downtrend. Bitcoin’s sell wall is decreasing, indicating that sellers are extremely exhausted. Something similar happened right before the 2020-2021 bull market, so the 2024-2025 bull market is about to begin. Additionally, traders seem to be optimistic about the next price move as volume has increased significantly and the price has risen significantly. The number of active addresses has also increased significantly. Meanwhile, Tesla, one of the BTC whales, moved around $760 million worth of BTC to a new wallet for the first time in two years. This may indicate that the company is making a strategic move and may be causing some bullish sentiment. Whales also appear to be feeling optimistic, as Grayscale’s $GBTC has recorded two consecutive days of inflows for the first time since early June. ETFs currently account for nearly 3% of BTC’s total trading volume, and therefore can have a significant impact on its value. ”
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Disclaimer: Crypto products and NFTs are unregulated and can be extremely risky. Regulatory remedies may not be available for losses from such transactions. Cryptocurrencies are not legal tender and are therefore subject to market risks. Readers are advised to seek professional advice and carefully read the offer document together with relevant key literature on the subject before making any type of investment. Cryptocurrency market predictions are speculative and investments are made at the reader’s sole expense and risk.
