Bitcoin (BTC), the oldest and most valued cryptocurrency in the world, briefly breached the $47,000 mark as the US Securities and Exchange Commission (SEC) approved BTC exchange-traded funds (ETFs). While this is considered to be a major win for crypto, it is largely being speculated that Ethereum (ETH) ETFs could be next on the table, as the coin touched a 20-month high of $2,500 before climbing up to $2,600.
The global crypto market cap stood at $1.76 trillion at the time of writing, registering a 24-hour dip of 0.25 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $46,030.72, registering a 24-hour dip of 0.90 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 40.80 lakh.
Ethereum (ETH) Price Today
ETH price stood at $2,587.46, marking a 24-hour dip of 1.10 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 2.29 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour dip of 0.20 percent, as per CoinMarketCap data, currently priced at $0.08375. As per WazirX, Dogecoin price in India stood at Rs 7.46.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour gain of 2.20 percent. At the time of writing, it was trading at $72.93. LTC price in India stood at Rs 6,400.
Ripple (XRP) Price Today
XRP price stood at $0.5986, seeing a 24-hour loss of 0.66 percent. As per WazirX, Ripple price stood at Rs 51.92.
Solana (SOL) Price Today
Solana price stood at $98.67 marking a 24-hour dip of 2.12 percent. As per WazirX, SOL price in India stood at Rs 8,750.
Top Crypto Gainers Today (January 12)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
Ethereum Name Service (ENS)
Price: $22.59
24-hour gain: 24.84 percent
Sui (SUI)
Price: $1.07
24-hour gain: 21.07 percent
FTX Token (FTT)
Price: $3.07
24-hour gain: 15.21 percent
Tezos (XTZ)
Price: $1.09
24-hour gain: 14 percent
Ethereum Classic (ETC)
Price: $29.50
24-hour gain: 9.25 percent
Top Crypto Losers Today (January 12)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
Beam (BEAM)
Price: $0.01901
24-hour loss: 9.12 percent
Akash Network (AKT)
Price: $2.94
24-hour loss: 7.26 percent
Lido DAO (LDO)
Price: $3.57
24-hour loss: 6.76 percent
WEMIX (WEMIX)
Price: $2.72
24-hour loss: 6.16 percent
Internet Computer (ICP)
Price: $12.82
24-hour loss: 5.17 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin started with an upward trend, surpassing the $46,000 milestone and peaking at $49,000, only to experience a retracement that wiped out all gained momentum. Currently, Bitcoin consolidates around the $46,000 level, propelled by widespread liquidation of short positions across the market. Resistance is encountered at $47,300, with support maintaining a foothold at the $45,500 level. Optimism prevails following the recent launch of spot Bitcoin ETFs, and this positive shift is evident in the fear and greed index, indicating a market sentiment skewed towards greed. A market dynamic unfolds as bears and bulls engage in a battle for control.”
Parth Chaturvedi, Investments Lead, CoinSwitch Ventures, noted, “After the start of BTC ETFs with a whopping collective trading volume of over $4.5 billion on Day 1, BTC (-0.7%) briefly inched close to $49k, hitting its 13-month high. The largest crypto was showcasing a rangebound performance of around $46.5k before peaking, which was followed by selling pressure and its return to the initial range. Even though the volatility has increased, the investor sentiment around BTC seems to have further strengthened, with a revision in analyst predictions including Cathie Wood, ARK Invest’s CEO. Cathie, who had previously predicted BTC’s price to reach $1 million by 2030, has revised her prediction to $1.5 million in a bullish scenario. Other entities, such as the Standard Chartered Bank continue to predict BTC prices to be close to $200k by the end of 2025.”
Rajagopal Menon, Vice President, WazirX, said, “Bitcoin (BTC) surged past $49,000, a level unseen since December 2021, as U.S.-based spot Bitcoin Exchange-Traded Funds (ETFs) began trading. The rally saw BTC climbing from below $46,000, peaking at $49,042 during the early U.S. trading hours. However, it subsequently retraced its gains, settling above $46,000 with a 1% increase over 24 hours. The ETF debut hasspurred significant BTC price volatility.”
Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “Bitcoin recently surged to over $47,000, credited to the US Securities and Exchange Commission (SEC) approving 11 new Bitcoin ETFs. Despite stabilizing around $46,600, this marks significant mainstream acceptance of cryptocurrency. Grayscale Investments, which won an SEC victory, plans to transform its $29 billion bitcoin trust into an ETF, which could boost investor confidence. “Rich Dad, Poor Dad” author Robert Kiyosaki predicts Bitcoin will hit $150,000 after SEC approval and defends Bitcoin, gold, and silver amid inflation fears. The 4-hour chart suggests a positive trend, with Bitcoin potentially challenging the $47,743 resistance. However, a drop below $45,026 could trigger a bearish reversal, highlighting the importance of market sentiment.”
CoinDCX Research Team told ABP Live, “In the past 24 hours, the overall market displayed volatility, especially after the launch of the BTC spot ETF. Notably, Spot Bitcoin ETFs achieved a trading volume surpassing $4.5 billion on their first day, indicating positive market sentiment. BTC touched a new higher high at $49,000 but experienced a quick drop to $46,000, influenced by higher-than-expected CPI data, which had a negative impact on the market. BTC dominance has been on a declining trend, providing room for altcoins to gain traction. ETH is positioned near the key level of $2,640 and is currently consolidating below that resistance. The key support level for ETH stands at $2,450.”
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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.