Bitcoin (BTC), the world’s oldest and most valued cryptocurrency, managed to shake off its slump and rise above $28,000 early Wednesday morning. The sudden rally could largely be attributed to Deutsche Bank’s plans to start crypto custody services. Other popular altcoins — including the likes of Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Solana (SOL), and Litecoin (LTC) — landed in the greens across the board. Stacks (STX) remained the biggest gainer for the second consecutive day, with a 24-hour gain of over 20 percent.
The global crypto market cap stood at $1.13 trillion at the time of writing, registering a 24-hour gain of 5.08 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $28,691.99, registering a 24-hour jump of 6.56 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 24.85 lakh.
Ethereum (ETH) Price Today
ETH price stood at $1,814.01, marking a 24-hour gain of 4.70 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.59 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour jump of 2.41 percent, as per CoinMarketCap data, currently priced at $0.06383. As per WazirX, Dogecoin price in India stood at Rs 5.60.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour gain of 5.85 percent. At the time of writing, it was trading at $81.88. LTC price in India stood at Rs 7,194.90.
Ripple (XRP) Price Today
XRP price stood at $0.4968, seeing a 24-hour gain of 1.35 percent. As per WazirX, Ripple price stood at Rs 43.
Solana (SOL) Price Today
Solana price stood at $16.84, marking a 24-hour gain of 4.46 percent. As per WazirX, SOL price in India stood at Rs 1,458.95.
Top Crypto Gainers Today (June 21)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
Stacks (STX)
Price: $0.7556
24-hour gain: 20.53 percent
Conflux (CFX)
Price: $0.2169
24-hour gain: 19.71 percent
Flow (FLOW)
Price: $0.5489
24-hour gain: 19.67 percent
Optimism (OP)
Price: $1.34
24-hour gain: 15.83 percent
Pepe (PEPE)
Price: $0.000001608
24-hour gain: 13.52 percent
Top Crypto Losers Today (June 21)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
Tether Gold (XAUT)
Price: $1,938.72
24-hour loss: 0.46 percent
BitTorrent(NEW) (BTT)
Price: $0.0000004694
24-hour loss: 0.27 percent
TrueUSD (TUSD)
Price: $1.00
24-hour loss: 0.11 percent
USD Coin (USDC)
Price: $0.9999
24-hour loss: 0.02 percent
Dai (DAI)
Price: $0.9998
24-hour loss: 0.01 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Over the last 24 hours, most cryptocurrencies rose after Deutsche Bank’s application for a licence to offer crypto custody services. Notably, Bitcoin has demonstrated strength by surpassing the $28,500 threshold, a level that had not been reached in the past two weeks. On Tuesday, BTC successfully broke through a significant resistance level, indicating a positive trend in the market. The primary driver behind this upward movement seems to be the increasing institutional interest in Bitcoin, as evidenced by recent filings for a spot Bitcoin ETF by BlackRock and Fidelity Investments. Currently, BTC is finding support around $28,450, while resistance levels are established at $29,000 and subsequently $30,000. Overall, the market sentiment is bullish, reflecting a positive outlook.”
Parth Chaturvedi, Investments Lead, CoinSwitch Ventures, said, “BTC, up 6.9 percent from yesterday, pushed its $28,000 resistance level and is currently trading above it; new resistance level at $30,000. BTC’s price movement comes against the backdrop of its dominance crossing 50 percent for the first time in the last two years. BlackRock’s BTC ETF development further underlines BTC’s bull case. It could also be that BTC has not been implicated in regulatory complexities which are currently being faced by altcoins.”
Rajagopal Menon, Vice President, WazirX, offered his take, “Bitcoin’s market oscillators and moving averages indicate a ‘Buy’ sentiment. The bullish sentiment that was initiated by Blackrock’s ETF filing has snowballed as more institutions have joined in to support Crypto trading. Despite market FUD for the most part of last week, Bitcoin’s current movement defies previous predictions and gives hope for a $30k mark amidst its correction phase.”
Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “Bitcoin (BTC) showed strength by breaking the descending trendline at $26,400, reinforcing its bullish outlook. The buy zone is supported by positive signals from the Relative Strength Index (RSI) and Moving Average Convergence (MACD) indicators. On the NFT front, Ethereum (ETH) continues to dominate with over 11 percent market revenue growth, while Bitcoin NFTs hold the second position. The latest data from the June 20, 2023 crypto slam reveals a slight increase in NFT sales, totalling just over $146 million.”
Shivam Thakral, the CEO of BuyUCoin, said, “The crypto market has seen a remarkable surge in trading activity over the past 24 hours, with a total volume of $43.95 billion, representing an impressive 59.14 percent increase. Bitcoin has crossed the $28,000 mark due to growing interest from institutions.”
CoinDCX Research Team told ABP Live, “In the past 24 hours, the total volume of the cryptocurrency market reached $27.54 billion, reflecting a significant increase of 33.03 percent compared to the previous period. Additionally, the decentralized finance (DeFi) sector contributed $1.67 billion to the overall volume, accounting for approximately 6.06 percent of the total crypto market volume. These figures indicate a growing interest and participation in both the broader cryptocurrency market and the specific DeFi sector.”
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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.
