Bitcoin (BTC), the oldest and most valued cryptocurrency in the world, managed to climb above the $37,000 mark once again, following a day of slump. Ethereum (ETH) joined in on the rally as it managed to cross the $2,000 mark as well. Other popular altcoins — including the likes of Solana (SOL), Dogecoin (DOGE), Ripple (XRP), and Litecoin (LTC) — managed to jump leaps and bounds, riding high on positive market sentiment. The ETHDYDX token emerged to be the biggest gainer, with a 24-hour jump of nearly 25 percent. OKB became the biggest loser, with a 24-hour dip of over 6 percent.
The global crypto market cap stood at $1.43 trillion at the time of writing, registering a 24-hour gain of 5.15 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $37,418.66, registering a 24-hour jump of 5.59 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 32.70 lakh.
Ethereum (ETH) Price Today
ETH price stood at $2,050.53, marking a 24-hour gain of 3.84 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.80 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour jump of 5.51 percent, as per CoinMarketCap data, currently priced at $0.07671 As per WazirX, Dogecoin price in India stood at Rs 6.57.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour gain of 3.40 percent. At the time of writing, it was trading at $73.72. LTC price in India stood at Rs 6,380.
Ripple (XRP) Price Today
XRP price stood at $0.6475, seeing a 24-hour jump of 3.02 percent. As per WazirX, Ripple price stood at Rs 55.99.
Solana (SOL) Price Today
Solana price stood at $66.33, marking a 24-hour gain of 15.54 percent. As per WazirX, SOL price in India stood at Rs 5,075.05.
Top Crypto Gainers Today (November 16)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
24-hour gain: 24.74 percent
24-hour gain: 19.03 percent
24-hour gain: 15.27 percent
24-hour gain: 14.04 percent
24-hour gain: 11.73 percent
Top Crypto Losers Today (November 16)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
Lido DAO (LDO)
24-hour loss: 11.13 percent
NEAR Protocol (NEAR)
24-hour loss: 11.07 percent
24-hour loss: 10.94 percent
24-hour loss: 10.80 percent
24-hour loss: 10.07percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “In the past 24 hours, Bitcoin’s value has risen by more than 5 percent, reaching approximately $37,500, despite no further developments from the US SEC regarding the Bitcoin Spot ETF applications. Since the beginning of the year, Bitcoin has experienced a remarkable surge of over 127 percent. Market sentiments presently lean towards bullish, as the Altcoins Solana and Avalanche recorded gains of 16 percent and 22 percent within the last 24 hours. Meanwhile, Ethereum maintains a trading value above the $2,000 mark.”
Shubham Hudda, Senior Manager, CoinSwitch Markets Desk, said, “BTC saw another 15-month high as Bitcoin’s price neared $38,000 levels just before retracing to $37,500. BTC dominance, however, did not rise much and stood at 52.2 percent, hinting that the entire crypto market has been witnessing growth, with global crypto M.Cap approaching the $1.5 trillion level. Altcoins have started to show momentum as popular AI token RNDR (+35.2 percent) led the altcoin rally and reached its 19-month high. SOL (+15.9 percent), too, continued to rise as it successfully rebounded from its newly found support at $55.”
Rajagopal Menon, Vice President, WazirX, said, “In a swift recovery, cryptos bounced back, reclaiming losses from the previous day. Bitcoin (BTC) surged, approaching a new 18-month high just below $38,000 after briefly dipping below $35,000. Ether (ETH) rose over 3 percent, reaching around $2,060 and surpassing the $2,000 mark. Among altcoins, Solana (SOL) maintains its leadership position, tripled in price over the past month. AVAX saw increased interest after JPMorgan and Apollo showcased a “proof of concept” for fund tokenization on its network.”
Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “Bitcoin (BTC) is up 6 percent, trading around $37,700, after a massive liquidation of leveraged positions totalling nearly $100 million for the day. The market recovery, fueled by aggressive buying and macroeconomic factors, is gaining momentum as US inflation and retail data support the Federal Reserve’s easing cycle narrative. Bitcoin’s resilience amid falling stock prices and a weakening dollar, along with optimism about potential spot bitcoin ETF approvals, is boosting investor confidence. Geopolitical tensions contribute to Bitcoin being perceived as a safe asset. If BTC breaks the recent annual high of $38,000, a move towards $40,000 and a 2022 high of $48,000 is likely. Meanwhile, alternative high-risk, high-reward strategies, such as engaging in cryptocurrency pre-sales, offer potential profits with carefully selected projects.”
Shivam Thakral, CEO of BuyUcoin, said, “The crypto market cap surged by over 5 percent touching the $1.43 trillion mark with BTC and ETH leading the effort. Bitcoin jumped by over 5 percent as buyers are dominating the market currently. The latest US inflation data showed that inflation is cooling down, which may result in relaxed monetary policies by the Fed. The crypto market is poised for healthy growth with Bitcoin options touching the $17 billion mark, this growth will be supported by a wave of positive regulatory developments surrounding the financial markets.”
CoinDCX Research Team told ABP Live, “Over the past 24 hours, the crypto market staged a notable recovery, with Bitcoin (BTC) edging close to a new 18-month high, trading just below $37,500. This resurgence followed a dip below $35,000 the day before. The upcoming resistance levels to monitor are in the range of $39,500 to $40,000. Meanwhile, Ether (ETH) exhibited resilience, marking a gain of over 3 percent and approaching $2,060. This brought ETH back above the $2,000 threshold after briefly dipping to around $1,900. To sustain its upward momentum, ETH needs to overcome resistance at $2,135.”
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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.