Bitcoin (BTC), the oldest and most valued crypto in the world, failed to rise above the $27,000 mark due to the ongoing US debt ceiling uncertainties as well as rising UK inflation woes. Other popular altcoins — including the likes of Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Litecoin (LTC), and Solana (SOL) — landed in the reds across the board as most coins traded sideways early Thursday. Neo (NEO) became the top gainer of the lot, with a 24-hour jump of over 4 percent. PancakeSwap (CAKE) became the biggest loser, with a 24-hour dip of over 12 percent.
The global crypto market cap stood at $1.10 trillion at the time of writing, registering a 24-hour dip of 1.84 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $26,176.35, registering a 24-hour dip of 2.19 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 23.44 lakh.
Ethereum (ETH) Price Today
ETH price stood at $1,775.13, marking a 24-hour loss of 2.38 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.57 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour dip of 1.80 percent, as per CoinMarketCap data, currently priced at $0.07019. As per WazirX, Dogecoin price in India stood at Rs 6.30.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour loss of 5.37 percent. At the time of writing, it was trading at $84.25. LTC price in India stood at Rs 7,500.
Ripple (XRP) Price Today
XRP price stood at $0.4528, seeing a 24-hour dip of 1.06 percent. As per WazirX, Ripple price stood at Rs 40.
Solana (SOL) Price Today
Solana price stood at $19.28, marking a 24-hour loss of 0.77 percent. As per WazirX, SOL price in India stood at Rs 1,769.
Top Crypto Gainers Today (May 25)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
24-hour gain: 4.51 percent
United Nations (UN)
24-hour gain: 0.77 percent
ONE BUT LEO (LEO)
24-hour gain: 0.66 percent
24-hour gain: 0.40 percent
Gemini dollars (GUSD)
24-hour gain: 0.18 percent
Top Crypto Losers Today (May 25)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
24-hour loss: 12.62 percent
24-hour loss: 8.88 percent
24-hour loss: 8.67 percent
24-hour loss: 8.47 percent
24-hour loss: 7.77 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin and Ethereum declined by over 3 percent amidst increasing concerns over UK inflation and the US debt ceiling stalemate. The release of the recent FOMC minutes, highlighting disagreement among US central bankers regarding interest rate hikes, further contributed to market uncertainty. Bitcoin witnessed a decline, reaching its lowest level since May 12, with a trading price of approximately $26,100. Likewise, Ethereum experienced a similar trend, falling below the $1,800 mark.”
CoinSwitch investment lead Parth Chaturvedi offered his take, “The crypto fear and greed index remains in the neutral zone with 51 points, up by 1 point. BTC has fallen by ~4 percent in the last 24 hours and is trading close to $26,000 levels, while ETH has fallen by ~3.7 percent, trading around $1,770. The top ten cryptos by market capitalisation are currently trading in red due to the macroeconomic uncertainty around ongoing US debt ceiling talks. Investors are also assessing the latest Federal Reserve meeting minutes released yesterday. Meanwhile, BTC’s correlation with the NASDAQ index has fallen to its 17-month low, as per K33 Research.”
WazirX Vice President Rajagopal Menon said, “Liquidity concerns, debt ceiling, and stringent monetary policies continue to affect the sentiment of the crypto industry as Bitcoin slides below $27,000. Asia continues to be bullish about crypto as more and more companies grow skeptical of the US regulations for VDAs.”
Sathvik Vishwanath, CEO and co-founder of Unocoin said, “Bitcoin is currently worth around $26,100, with its first support level at $25,600 and resistance at $26,650. The second support level is at $25,200, while resistance is at $27,300. Based on the 200-day moving average on the daily candle, the price of Bitcoin is within this range. In other crypto news, MBNB is down 2 percent to trade at $303, Ethereum is down 2.5 percent to $1,780, while ARPA is up a remarkable 30 percent, trading around $0.10949.”
Shivam Thakral, the CEO of BuyUCoin, said, “The crypto market is facing the heat due to regulatory uncertainty in major markets like the US. BTC dropped by around 3.5 percent while ETH also dipped by the same percentage during the 24-hour period. We may see BTC looking for a lower support level of $25,000 as Inflationary concerns along with the debt ceiling crisis are holding back the market momentum.”
CoinDCX Research Team told ABP Live, “Bitcoin faced a recent decline, experiencing a 2.26 percent drop in its value, reaching $26,722 in the last 24 hours. The UK core Consumer Prices Index (CPI) rate exceeded expectations, soaring to 6.8 percent, the highest since 1992. This persistent surge in core prices, excluding food, energy, and tobacco, for three consecutive months, raises concerns as the Bank of England is likely to face mounting pressure to continue raising interest rates in the upcoming months.”
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.