Crypto Price Today: Bitcoin, Ether See Losses; Altcoins Solana, Cardano Follow Suit

Over the weekend, the value of BTC dropped by $50 (roughly Rs. 4,155).

Written by Radhika Parashar, Edited by Siddharth Suvarna | Updated: 22 January 2024 12:31 IST

Crypto Price Today: Bitcoin, Ether See Losses; Altcoins Solana, Cardano Follow Suit

Photo Credit: Pixabay/ Dean Crosby

The crypto market cap currently stands at $1.61 trillion

Highlights

Cosmos, Stellar saw losses
Monero, Near Protocol saw losses
Iota, Nem recorded small gains

Bitcoin stepped into the final week of January 2024, trading in losses. The asset, on Monday, January 22 recorded a loss of 1.72 percent. This took its trading value to $40,955 (roughly Rs. 34 lakh). Over the weekend, the value of BTC dropped by $50 (roughly Rs. 4,155). After showing a stellar performance in an upward trajectory in the last two months of 2023, Bitcoin price cascaded around its current price point a few days into January. Despite the US approving 11 BTC ETFs, the asset recorded no spike in its pricing.

Ether dipped in pricing by 2.28 percent on Monday, as shown on the crypto price tracker by Gadgets360. Ether, at the time of writing, stands at $2,417 (roughly Rs. 2 lakh).

“Over the weekend, Bitcoin maintained its position at $41,000 (roughly Rs. 34 lakh) amid a challenging tug-of-war between bulls and bears for market dominance. With BTC trading above the $40,000 (roughly Rs. 33.2 lakh) zone, indications point towards a possible sideways trend. In contrast, Ethereum is presently valued at $2,400 (roughly Rs. 1.99 lakh) and a failure by bulls to push beyond the $2,500 (roughly Rs. 2.07 lakh) level could result in Ethereum dropping below $2,400 (roughly Rs. 1.99 lakh) this week,” Edul Patel CEO of Mudrex told Gadgets360.

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Tether, Cardano, Solana, Ripple, Avalanche, Tron, and Polkadot also recorded price dips alongside USD Coin, Leo, and Uniswap.

“With every slight lower move of BTC however, altcoins have been bleeding as the ETH/BTC pair too failed to hold above the 0.06 Bitcoin per Ethereum mark. With a lot of hot altcoins like Arbitrum (ARB, -4 percent) currently trading on trend line support, Monday US hours would be very crucial to see which way the market will take this week,” the CoinSwitch Markets Desk told Gadgets360.

The overall crypto market cap tumbled by 1.78 percent in the last 24 hours, and it presently stands at the mark of $1.61 trillion (roughly Rs. 1,33,80,146 crore), shows CoinMarketCap.

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Meanwhile Litecoin, Leo, Iota, and Qtum managed to register small gains.

Dogecoin, experienced a notable surge of more than 10 percent after X (formerly Twitter) hinted about soon launching a payment service. The current price of DOGE stands at $0.083 (roughly Rs. 6.87).

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Cryptocurrency Prices across Indian exchanges

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Further reading: Cryptocurrency, Bitcoin, Ether, Qutm, Wrapped Bitcoin, Zcash, Tether, USD Coin, Ripple, Binance USD, Binance Coin, Cardano, Polygon, Solana, Polkadot, Dogecoin, Shiba Inu, Litecoin, Uniswap, Tron, Monero, Dash, Bitcoin Cash, Flex, Cartesi, Braintrust, Kishu Inu, Circuits of Value

Radhika Parashar

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Radhika Parashar is a senior correspondent for Gadgets 360. She has been reporting on tech and telecom for the last three years now and will be focussing on writing about all things crypto. Besides this, she is a major sitcom nerd and often replies in Chandler Bing and Michael Scott references. For tips or queries you could reach out to her at RadhikaP@ndtv.com. More