Bitcoin Remains Stable within $43,000 Range Amid ETF Rumors
Bitcoin (BTC), the oldest and most valued cryptocurrency in the world, appeared to remain stable within the $43,000 range as rumors of exchange-traded funds (ETFs) keep the interest of investors piqued. While Bitcoin’s price saw a 24-hour jump of 0.99 percent, popular altcoins such as Ethereum (ETH), Ripple (XRP), Litecoin (LTC), Solana (SOL), and Dogecoin (DOGE) also saw minor gains across the board. Among the altcoins, the Celestia (TIA) token became the biggest gainer with a 24-hour jump of over 18 percent, while SEI became the biggest loser with a 24-hour dip of over 10 percent.
Bitcoin Price Today: $43,609.77, 24-hour Jump of 0.99%
At the time of writing, Bitcoin’s price stood at $43,609.77, registering a 24-hour jump of 0.99 percent. According to the Indian exchange WazirX, BTC price stood at Rs 39 lakh. Despite the recent dip in prices of key tokens, the market is showing signs of maturity. The recent dip in market cap has been fueled by speculations that the Bitcoin ETF application might be rejected, starting a frenzy of long position selling. The market cap is under pressure due to long-term hodlers booking profits in case BTC’s price dips further following the ETF verdict.
Ethereum Price Today: ETH at $2,246.82, 24-hour Gain of 0.33%
Ethereum, the second-largest cryptocurrency by market capitalization, saw its price stand at $2,246.82, marking a 24-hour gain of 0.33 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 2.02 lakh. The risk tolerance level in the market appears to be low at present with the volatility and uncertainty about certain tokens. However, the uncertainty around Bitcoin has been neutralized by a bullish sentiment by institutional investors towards Ethereum.
Top Crypto Gainers and Losers: Celestia (TIA) Rises 18%, SEI Dips 10%
Among the top crypto gainers over the past 24 hours, the Celestia (TIA) token stood out with a price of $15.35 and a 24-hour gain of 18.42 percent. Other notable gainers included Aptos (APT) with a price of $10.43 and a 24-hour gain of 14.41 percent, Osmosis (OSMO) with a price of $1.75 and a 24-hour gain of 14.18 percent, WOO Network (WOO) with a price of $0.4256 and a 24-hour gain of 11.63 percent, and Akash Network (AKT) with a price of $2.84 and a 24-hour gain of 11.59 percent.
On the other hand, the biggest loser of the day was SEI, with a price of $0.7249 and a 24-hour loss of 10.13 percent. Other top losers included Mina (MINA) with a price of $1.24 and a 24-hour loss of 8.77 percent, Astar (ASTR) with a price of $0.1623 and a 24-hour loss of 8.55 percent, Bonk (BONK) with a price of $0.00001141 and a 24-hour loss of 6.58 percent, and Internet Computer (ICP) with a price of $13.49 and a 24-hour loss of 6.34 percent.
In conclusion, the global crypto market cap stood at $1.66 trillion at the time of writing, with Bitcoin remaining stable within the $43,000 range. While Bitcoin saw a minor gain, popular altcoins like Ethereum, Ripple, Litecoin, Solana, and Dogecoin also experienced slight gains. The Celestia token stood out as the biggest gainer with a 24-hour jump of over 18 percent, while SEI became the biggest loser with a 24-hour dip of over 10 percent. The crypto market showed signs of maturity, but the volatility and uncertainty of certain tokens continued to impact the risk tolerance level of investors.
Analyst comment
Neutral news.
As an analyst, the market is expected to remain relatively stable in the near term, with Bitcoin continuing to trade within the $43,000 range. The rumors of ETFs are keeping investor interest high, leading to minor gains in Bitcoin and other popular altcoins. However, the market is still affected by volatility and uncertainty, which could impact risk tolerance levels. The recent dip in market cap may be attributed to speculation surrounding the rejection of the Bitcoin ETF application. Overall, the market shows signs of maturity, but cautiousness persists.
