Bitcoin (BTC), the oldest and most valued cryptocurrency in the world, dipped to the $41,000 range over the weekend. Popular altcoins — including the likes of Ethereum (ETH), Solana (SOL), Ripple (XRP), Litecoin (LTC), and Dogecoin (DOGE) — landed in the reds across the board. FTX Token (FTT) emerged to be the biggest gainer of the lot, with a 24-hour jump of over 8 percent. Arweave (AR) became the biggest loser, with a 24-hour dip of over 12 percent.
The global crypto market cap stood at $1.46 trillion at the time of writing, registering a 24-hour dip of 8.08 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $41,116.15, registering a 24-hour loss of 2.06 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 36.70 lakh.
Ethereum (ETH) Price Today
ETH price stood at $2,173.83, marking a 24-hour dip of 2.04 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.94 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour loss of 3.66 percent, as per CoinMarketCap data, currently priced at $0.09204. As per WazirX, Dogecoin price in India stood at Rs 8.15.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour dip of 2.77 percent. At the time of writing, it was trading at $70.42. LTC price in India stood at Rs 6,260.
Ripple (XRP) Price Today
XRP price stood at $0.606, seeing a 24-hour loss of 2.19 percent. As per WazirX, Ripple price stood at Rs 53.30.
Solana (SOL) Price Today
Solana price stood at $69.88, marking a 24-hour dip of 5.25 percent. As per WazirX, SOL price in India stood at Rs 6,310.19.
Top Crypto Gainers Today (December 18)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
FTX Token (FTT)
Price: $3.90
24-hour gain: 8.89 percent
Helium (HNT)
Price: $7.73
24-hour gain: 7.12 percent
Stacks (STX)
Price: $1.08
24-hour gain: 5.99 percent
Bitget Token (BGB)
Price: $0.5982
24-hour gain: 5.27 percent
Injective (INJ)
Price: $30.87
24-hour gain: 4.83 percent
Top Crypto Losers Today (December 18)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
Arweave (AR)
Price: $9.27
24-hour loss: 12.95 percent
Kaspa (KAS)
Price: $0.1042
24-hour loss: 9.10 percent
Avalanche (AVAX)
Price: $39.53
24-hour loss: 9.09 percent
Filecoin (FIL)
Price: $5.15
24-hour loss: 8.84 percent
Conflux (CFX)
Price: $0.179
24-hour loss: 8.75 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin is currently consolidating above the $40,000 level following weekend profit-taking, with a potential move towards $42,700 if buyers retain control. The absence of clear dominance by buyers or sellers, coupled with the rate positioned away from support and resistance levels, suggests BTC might trade sideways within the $41,000 to $43,000 range in the upcoming days. On the weekly chart, despite bulls failing to sustain the rise after a bullish candle, BTC has held above the $40,000 level. Failure to break above this level may result in support being tested at $39,000.”
Parth Chaturvedi, Investments Lead, CoinSwitch Ventures, said, “Following a muted weekly performance, BTC (-2.2%) continued with its rangebound performance between $41k – $43k over the weekend and the last 24 hours. As per data from analytics firm IntoTheBlock, on-chain data signals an inflow of $860 million worth of Bitcoin into crypto exchanges during last week, the highest since March this year. However, investor confidence in BTC continues to strengthen due to common belief that BTC is primed for a strong 2024. The market is most likely to pick up again.”
Rajagopal Menon, Vice President, WazirX, said, “Bitcoin’s price correction continues this week as no new updates related to ETF applications are revealed. its strong rally has not been completely ruled out. A surge in its price might be noticeable towards the end of the month as the ETF application window nears in January. For Ethereum, there has been an uptick in trading volumes and an overall bullish sentiment due to moving averages indicating ‘buy’. However, its current low support levels might bring about a consolidation phase similar to Bitcoin. Liquidation of long positions for Bitcoin and Ethereum continue to spill over to this week which is a cause of concern among analysts.”
Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “Bitcoin’s on-chain indicators highlight its robust dynamics. With 69.23% of addresses categorized as ‘Holders,’ the majority has retained Bitcoin for over a year, outweighing ‘Traders’ (6.78%) and ‘Cruisers’ (23.99%). The rising hashrate, currently at 493,313,217.742 TH/s, enhances security and scarcity. A negative exchange net flow of $62.57 million signals an outflow, potentially easing selling pressure and bolstering sentiment. Priced at $41,000 , Bitcoin’s 4-hour chart indicates a pivot point at $40,000, aligning with the 38.2% Fibonacci retracement. Resistance levels at $42,885, $44,738, and $46,020 exist, while supports are at $40,700, $39,775, and $38,350. The RSI at 43 signals neutrality, and the 50-Day EMA at $42,300 aligns with the current price, suggesting a short-term bullish trend. While an upward trendline supports Bitcoin, vigilance is crucial for potential shifts below $41,735, indicating a change in market sentiment.”
Shivam Thakral, CEO of BuyUcoin, said, “The overall crypto market is currently at the $1.55 trillion mark with BTC and ETH trading at $41,055.95 and $2,170.99 levels respectively. As we approach the holiday season, we can expect some dip in trading activity due to which the market may remain at current levels. The Bitcoin ETF approval clock is ticking and we can expect a crypto super cycle in 2024 once the final approval is achieved. The interest rate cut by the US Fed may also drive the momentum in the crypto market in 2024.”
CoinDCX Research Team told ABP Live, “In the last three days, BTC faced a nearly 5 percent decline and is currently trading below the 20 EMA D, hovering slightly above the support level at $40,600. If BTC fails to rebound from the 20 EMA D, it may experience a further drop to bottom levels around $38,000. Similarly, ETH is presently below the 20 EMA D, displaying bearish sign. If it doesn’t initiate a recovery, the key level is $2,130, and breaking below this might lead to a descent to $2,020. Following the initial shakeout, resilient investors are likely to re-enter the crypto market, given the ongoing bullish macro environment for risk assets. The Federal Reserve’s decision to pause rate hikes and potential rate reductions in 2024 could contribute to increased demand for crypto.”
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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.
