Bitcoin (BTC), the world's oldest and most valuable cryptocurrency, surpassed the $71,000 mark early Tuesday, surging closer to an all-time high of $73,000. Other popular altcoins, including Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Solana (SOL) and Litecoin (LTC), rose across the board with the Market Fear and Greed Index hitting a score of 70 out of 100 (neutral), according to CoinMarketCap data. Meme coin FLOKI was the biggest gainer, up about 11% in 24 hours. WorldCoin (WLD) was the biggest loser, down about 10% in 24 hours.
At the time of writing, the global cryptocurrency market capitalization was $2.61 trillion, up 8.14% in 24 hours.
Bitcoin (BTC) Price Today
According to CoinMarketCap, the price of Bitcoin was $71,058.20, up 6.59% in 24 hours. According to Indian exchange WazirX, the price of BTC was Rs 6.054 lakh.
Ethereum (ETH) Price Today
The ETH price is at $3,682.67, up 18.92 percent in 24 hours at the time of writing. According to WazirX, the Ethereum price in India is at Rs 3.11 lakh crore.
Dogecoin (DOGE) price today
According to data from CoinMarketCap, DOGE has risen 7.86% in the last 24 hours and is currently priced at $0.163. According to WazirX, the price of Dogecoin in India is Rs 13.80.
Litecoin (LTC) price today
Litecoin has risen by 5.11% in 24 hours. It was trading at $87.56 at the time of writing. The LTC price in India was Rs 7,394.11.
Ripple (XRP) Price Today
The price of XRP was at $0.5364, up 4.32% in 24 hours, while Ripple was at Rs 46.25, according to WazirX.
Solana (SOL) Price Today
Solana price was $184.75, up 6.78% in 24 hours. According to WazirX, the price of SOL in India was Rs 15,313.75.
Today's top cryptocurrency gainers (May 21)
According to data from CoinMarketCap, the top five cryptocurrencies that have increased in value over the past 24 hours are:
Floki
price: $0.0002158
24 hour increase: 10.77 percent
Pepe
price: $0.00001141
24 hour increase: 6.10 percent
Arweave (AR)
price: $41.22
24 hour increase: 4.90 percent
Wormhole (W)
price: $0.5436
24 hour increase: 2.88 percent
Thor Chain (Rune)
price: $5.65
24 hour increase: 1.75 percent
Today's Biggest Crypto Losers (May 21st)
According to data from CoinMarketCap, the top five cryptocurrencies that fell in the last 24 hours were:
WorldCoin (WLD)
price: $4.79
24 hour increase: 9.30 percent
Etena (ENA)
price: $0.7021
24 hour increase: 6.98 percent
Celestia (TIA)
price: $8.19
24 hour increase: 6.77 percent
Dogwif Hat (WIF)
price: $2.92
24 hour increase: 5.98 percent
NEAR Protocol (NEAR)
price: $6.97
24 hour increase: 4.91 percent
What Crypto Exchanges are saying about the current market scenario
Edul Patel, co-founder and CEO at Mudrex, told ABP Live, “Bitcoin held at the $71,000 level on increased inflows into the Bitcoin Spot ETF. It has breached the $68,000 level for the first time in over five weeks. BTC is facing resistance at $71,850 and then $73,777, with the $68,850 level being support. Meanwhile, Ethereum also breached the $3,500 resistance level as recent SEC moves have raised hopes for an Ethereum ETF. The global crypto market capitalization also grew by around 9% in the past 24 hours to reach $2.61 trillion. Overall, there is positive sentiment in the market.”
CoinSwitch Markets Desk said, “Bitcoin surged more than 6% on international exchanges yesterday. The $70,000 mark was broken fairly easily by bulls, but after 40 days it reached the resistance of $72,000. However, this surge was driven by ETH, which surged more than 15%, and ETH's rise significantly outpaced BTC for the first time in a long time. The main reason for ETH's rise can be attributed to the Ethereum ETF deadline on May 23. While many analysts predicted that the chances of an ETH ETF being approved were very low, according to Bloomberg analyst Eric Balchunas, the chances of ETF approval have jumped from 25% to 75%. This happened because the SEC asked Ethereum ETF exchanges to update their 19b-4 filings before the May 23 deadline.” However, it remains unlikely that an ETH ETF will be approved this week. The SEC seems to be moving in a positive direction, which is stimulating the market.
Rajagopal Menon, Vice President at WazirX, said: “Bitcoin unexpectedly rallied 6% in the past 24 hours, buoyed by renewed buying pressure and a new surge in inflows into spot Bitcoin ETFs. This bullish sentiment marks a sharp reversal from yesterday's skepticism, which arose from Bitcoin's historically stable trend during this time of year. The token has been hovering between $60,000 and $70,000 for the past two months, which is a typical characteristic of a stabilization phase. Analysts currently identify potential resistance levels at $71,632.47 and $72,110.41, which could signal the beginning of a post-halving rally. However, some volatility is still expected during this breakout phase. Bitcoin may drop towards $68,000, which coincides with the 50% Fib retracement level.”
Satvik Viswanath, CEO and co-founder at Unocoin, said, “BTC and ETH have seen significant gains in the past 24 hours as news broke that the SEC is requesting updated filings and Bloomberg analysts reported that the probability of ETH ETF's approval has increased to 75%. BTC has surpassed the $71,000 level while ETH has surpassed BTC by over $3,700. Technically, BTC now has one last level to clear near the $73,700 mark. Above that, it will go into price discovery mode. BTC is very bullish right now and it may stabilize a bit here and altcoins may shine.”
Shivam Thakral, CEO, BuyUcoin, said, “Bitcoin saw a massive surge on Monday, crossing the $71,000 mark during the trading day. Investors gave BTC a much-needed boost after major banks such as Morgan Stanley, JP Morgan, Wells Fargo, UBS, BNP Paribas, Royal Bank, Millennium Management and Schonfeld Strategic Advisors revealed large holdings in Bitcoin ETFs. If the current momentum continues, Bitcoin may test the $74,000 levels in the coming weeks. The excitement surrounding tomorrow's Bitcoin Pizza Day may further boost already-elevated investor sentiment.”
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Disclaimer: Cryptocurrency products and NFTs are unregulated and may be extremely risky. There may be no regulatory remedy for losses from such transactions. Cryptocurrencies are not legal tender and are subject to market risks. Readers are advised to seek professional advice and to carefully read the offer documents and any related material literature before making any type of investment. Cryptocurrency Market forecasts are speculative and any investments are made at the reader's own expense and risk.
