Bitcoin (BTC), the world’s oldest and most valued cryptocurrency, failed to rise above the $27,000 mark over the weekend as investors remain cautious. Ethereum (ETH), on the other hand, managed to regain the $1,800 mark, despite a minor 24-hour dip of lesser than 1 percent. Other popular altcoins — including the likes of Dogecoin (DOGE), Ripple (XRP), Litecoin (LTC), and Solana (SOL) — landed in the reds across the board. PEPE continues to slide, seeing a 24-hour dip of nearly 10 percent, making it the biggest loser of the lot.
The global crypto market cap stood at $1.12 trillion at the time of writing, registering a 24-hour dip of 1.54 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $26,658.56, registering a 24-hour loss of 1.98 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 23.25 lakh.
Ethereum (ETH) Price Today
ETH price stood at $1,801.95, marking a 24-hour dip of 0.92 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.56 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour loss of 3.04 percent, as per CoinMarketCap data, currently priced at $0.07153. As per WazirX, Dogecoin price in India stood at Rs 6.36.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour loss of 1.49 percent. At the time of writing, it was trading at $90.92. LTC price in India stood at Rs 7,852.91.
Ripple (XRP) Price Today
XRP price stood at $0.4564, seeing a 24-hour dip of 2.56 percent. As per WazirX, Ripple price stood at Rs 39.90.
Solana (SOL) Price Today
Solana price stood at $19.58, marking a 24-hour loss of 3.52 percent. As per WazirX, SOL price in India stood at Rs 1,759.98.
Top Crypto Gainers Today (May 22)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
TRON (TRX)
Price: $0.07453
24-hour loss: 2.95 percent
Render Token (RNDR)
Price: $2.40
24-hour loss: 1.02 percent
Huobi Token (HT)
Price: $2.92
24-hour loss: 0.62 percent
Bitcoin SV (BSV)
Price: $35.05
24-hour loss: 0.36 percent
Curve DAO Token (CRV)
Price: $0.8333
24-hour loss: 0.30 percent
Top Crypto Losers Today (May 22)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
Pepper (PEPPER)
Price: $0.000001537
24-hour loss: 9.64 prcent
Injective (INJ)
Price: $6.63
24-hour loss: 7.57 percent
SingularityNET (AGIX)
Price: $0.2653
24-hour loss: 7.54 percent
Sui (SUI)
Price: $1.05
24-hour loss: 7.30 percent
GMX (GMX)
Price: $59.12
24-hour loss: 5.89 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin traded at the $27,000 mark during the weekend; however, it has since declined as the market anticipates the potential impact of a week filled with significant news in the United States. Currently, BTC is traded at the $26,650 level, with support at $26,200 and resistance at $27,000. Meanwhile, Ethereum is valued at approximately $1,800. If buyers can maintain the price above the current level, there is a chance of witnessing a brief increase.”
CoinSwitch investment lead Parth Chaturvedi offered his take, “Crypto markets have observed slight selling pressure in the last 24 hours. Global crypto market capitalisation is at $1.16 trillion, down 1.7 percent since yesterday. The crypto fear and greed index is down 3 points, currently in the neutral zone with 49 points. This hints that investors continue to be cautious. BTC has been in a consolidation mode over the last month, given its rangebound performance. It is rather calm and stable, suggesting a lack of strong buying or selling pressure lately. ”
WazirX Vice President Rajagopal Menon said, “Bitcoin’s price correction has given hope to experts regarding the breakthrough movement of the token. The 10-day BTC moving averages indicated a ‘Buy’ sentiment. However, major market oscillators indicate a ‘Neutral’ sentiment.”
Sathvik Vishwanath, CEO and co-founder of Unocoin said, “The price of Bitcoin is currently $26,605 with a 0.50 percent decrease in the last day. Its market capitalisation is $521 billion. If the symmetrical triangle pattern breaks to the upside, it could continue the bullish trend and target the resistance levels at $27,700 and $28,200. Technical indicators such as RSI and MACD suggest a neutral position, but a break above the $27,250 resistance level is possible. Bitcoin is supported by the 50-day moving average of $26,800, but failure to break above $27,250 may lead to a downtrend towards the $26,000 and $25,750 support levels. The $27,250 level is crucial for future movement.”
Shivam Thakral, the CEO of BuyUCoin, said, “Bitcoin (BTC), the pioneering cryptocurrency, is currently trading at a price of $26,652.41. Over the past hour, the price has experienced a slight increase of 0.27 percent, indicating some positive momentum. Looking at the broader picture, Bitcoin has shown a 1.94 percent increase over the past 24 hours, demonstrating a steady upward trend. Moreover, over the span of the last seven days, Bitcoin has gained 1.95 percent in value, suggesting a relatively stable and positive performance.”
CoinDCX Research Team told ABP Live, “The BTC options expiry on Friday is crucial for Bitcoin’s price, given concerns about regulations and the US debt ceiling. Bears in the Bitcoin market may take advantage of this uncertain climate. The outcome of the expiry will determine Bitcoin’s short-term performance, with potential effects on its price. Meanwhile, Bitcoin’s mining difficulty level skyrockets to a record high, accompanied by a surge in hash rate to 350 TH/s. This indicates the strengthening security and resilience of the Bitcoin network, bolstered by a greater number of miners contributing their computational power to validate transactions and uphold the decentralized nature of the blockchain.”
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.