Quick analysis of cryptocurrency prices on April 22: The market value increased to $2.43 trillion globally.
The world's oldest and most valuable cryptocurrency, Bitcoin (BTC), was able to surpass $66,000 throughout the weekend after the much-anticipated Bitcoin Halving event. Other well-known cryptocurrencies, including as Litecoin (LTC), Dogecoin (DOGE), Ripple (XRP), Solana (SOL), and Ethereum (ETH), also had positive returns. According to CoinMarketCap statistics, the total Market Fear & Greed Index was 62 (Greed) out of 100. With a gain of more than 13 percent in a single day, the CORE token was the largest riser of the group. Nervos Network (CKB) saw a decline of more than 5 percent in a day, making it the biggest loser.
At the time of writing, the value of the entire cryptocurrency market was $2.43 trillion, a gain of 1.64 percent in a day.
Bitcoin (BTC) Price Today
According to CoinMarketCap, the price of bitcoin was $66,328.40, representing a rise of 2.01% in a day. As per the Indian exchange WazirX, the current value of Bitcoin was Rs 59.10 lakh.
Ethereum (ETH) Price Today
At the time of writing, the price of ETH was $3,228.42, indicating a gain of 1.55 percent in just 24 hours. Ethereum's price in India was Rs 2.87 lakh, according to WazirX.
Dogecoin (DOGE) Price Today
According to CoinMarketCap data, DOGE experienced a 0.64 percent 24-hour decline, with a current price of $0.1625. The price of Dogecoin in India was Rs 14.36, according to WazirX.
Litecoin (LTC) Price Today
Litecoin gained 0.24 percent in a day. When I wrote this, its trading price was $85.69. The cost of LTC was Rs 7,669.17 in India.
Ripple (XRP) Price Today
The price of XRP was $0.5361 after rising 1.39 percent in a day. The price of ripple was Rs 47.81, according to WazirX.
Solana (SOL) Price Today
With a price gain of 1.85% in just 24 hours, Solana was trading at $153.25. WazirX reports that the price of SOL in India was Rs 13,699.
Top Crypto Gainers Today (April 22)
The top five cryptocurrency gainers during the last 24 hours, according to CoinMarketCap data, are as follows:
Core (CORE)
Price: $2.44
24-hour gain: 13.20 percent
AIOZ Network (AIOZ)
Price: $0.7696
24-hour gain: 12.22 percent
Pepe (PEPE)
Price: $0.00000649
24-hour gain: 8.84 percent
Neo (NEO)
Price: $19.99
24-hour gain: 8.36 percent
NEAR Protocol (NEAR)
Price: $6.84
24-hour gain: 7.80 percent
Top Crypto Losers Today (April 22)
The top five cryptocurrency losers over the last 24 hours, according to CoinMarketCap data, are as follows:
Nervos Network (CKB)
Price: $0.02056
24-hour gain: 5.76 percent
dogwifhat (WIF)
Price: $3.01
24-hour gain: 3.08 percent
Pendle (PENDLE)
Price: $5.98
24-hour gain: 2.44 percent
Maker (MKR)
Price: $3,036.15
24-hour gain: 2.30 percent
Monero (XMR)
Price: $119.39
24-hour gain: 1.74 percent
What Crypto Exchanges Are Saying About Current Market Scenario
"Bitcoin has soared above the $64,000 mark post-half-event, demonstrating resilience despite a brief retreat to $59,000," said Edul Patel, co-founder and CEO of Mudrex, in an interview with ABP Live. This comeback highlights strong purchasing interest at reduced prices. with an astounding 137% increase in the last 12 months. There is currently no dominant bullish or bearish emotion, indicating that there may be short-term sideways movement between $62,000 and $66,000. Ethereum has performed similarly to Bitcoin, with Glassnode data showing a rise in Ether supply among addresses that have held 1,000–10,000 ETH over the previous two weeks.
"With the overall crypto M.Cap. just under $2.5 trillion, the market has undergone minor correction in the last 24 hours," stated Parth Chaturvedi, Lead for Investments at CoinSwitch Ventures. The market value realized value (MVRV) ratio of BTC (-0.8%) appears to have dropped below its 90-day average, suggesting that investors in cryptocurrencies may soon have an opportunity to purchase. In actuality, on Friday, Bitcoin whales amassed about $1.2 billion in cryptocurrency. The introduction of the Runes token standard and the halving event has also resulted in an increase in transaction fees. Since the start of the year, the price of Bitcoin has increased by about 47% due to the anticipation of its halving. Bitcoin may see increases in the second quarter of this year, according to historical statistics and price trends. After the halving, altcoin rallies are also frequently observed, while Bitcoin stays quiet for a while before exhibiting green candlesticks.
Vice President of WazirX Rajagopal Menon stated: "Bitcoin is currently trading at $65,052, down 0.62% over the last 24 hours following a 1.50% increase on Sunday. If it continues on its current path, it may encounter resistance at $66000. Shiba Inu will soon cross over to its 50-day EMA, which is a critical level between bulls and bears. SHIB may increase even more in price if it breaks above the $0.00003 mark. But in order to keep from dropping back to its former $0.000022, it must maintain the levels. Solana is also trading close to its $150 zone, where it needs to build momentum to climb higher. If it keeps gaining traction, resistance may be found in the $166–$177 range.
"Bitcoin's rise to $65,225 signals increasing investor confidence, fueled by high-profile investments such as Michael Saylor's, which boosted his net worth to nearly $4 billion," stated Sathvik Vishwanath, CEO and co-founder of Unocoin. With a 0.15% charge, Grayscale's Bitcoin Mini Trust seeks to make cryptocurrency investing more accessible to anyone. But privacy problems are raised by the IRS's planned Form 1099-DA, which mandates transaction reporting. Technical analysis indicates $63,045 as support and $66,910 as resistance. Relative Strength Index (RSI) at 56 points to moderate buying, but if the 50-day EMA of $64,682 is broken, caution is advised. The dynamic market, regulatory scrutiny, and pessimism highlight how the world of digital assets is changing.
"Bitcoin has been trading above $65,000 over the weekend after the halving," stated BuyUcoin CEO Shivam Thakral. Due of the Hong Kong ETFs' impending launch and the unimportant economic schedule, this week may witness considerable volatility, which would likely be to the bulls' advantage. It would be confirmed that the bottom has been reached at roughly $60,000 by a break out above $75,000.
"Over the weekend, the crypto market saw less volatility, with both BTC and ETH closing in the green following the push to the upside post-BTC halving," the CoinDCX Research Team said to ABP Live. Technically speaking, Bitcoin is still inside a larger sideways zone but is holding above the 50 EMA D support level. With critical resistances at $71400 and $72850, the market must overcome and hold its recent ATH in order to continue its upward trajectory. It is good news for cryptocurrencies that BTC's dominance has decreased over the past several days. At the moment, ETH is below both the $3200 S/R flip and the 50 EMA D. The $3,656 mark represents the key resistance for ETH.
Disclaimer: NFTs and cryptocurrency products are unregulated and very dangerous. For any losses resulting from such transactions, there might be no regulatory redress. Cryptocurrency is vulnerable to market risks and is not a form of legal tender. Before making any form of investment, readers are urged to consult an expert and carefully study the offer document(s) and any relevant key literature on the subject. Predictions about the cryptocurrency market are speculative, and readers assume all risk and expense associated with any investments they make.
No comments:
Post a Comment