Bitcoin (BTC), the world's oldest and most valuable cryptocurrency, surpassed the $62,000 milestone early Thursday, boosting investor confidence following a 50 basis point cut in U.S. federal interest rates. I raised it. ○Other popular altcoins like Ethereum (ETH), Dogecoin (DOGE), Solana (SOL), Ripple (XRP), and Litecoin (LTC) land in the green across the board as the overall market fear and greed index rises I did. 40 out of 100 (neutral) according to CoinMarketCap data. of The Nervos Network (CKB) token, which was the biggest gainer yesterday, became the biggest loser today, dropping nearly 10 percent in 24 hours. The SEI token rose over 21 percent in 24 hours, becoming the top gainer.
At the time of writing, the global cryptocurrency market capitalization was $2.14 trillion, registering an increase of 2.63% in 24 hours.
Bitcoin (BTC) price today
According to CoinMarketCap, Bitcoin price was $62,145, up 2.46 percent in 24 hours. According to Indian exchanges, the BTC price stood at Rs 49.04 million.
Ethereum (ETH) price today
ETH price is $2,411.01, up 3.14% in 24 hours at the time of writing. Ethereum price in India was 198,000 rupees.
Dogecoin (DOGE) price today
According to data from CoinMarketCap, DOGE has registered an increase of 2.86% in 24 hours and is currently priced at $0.1042. Dogecoin price in India was Rs 8.52.
Litecoin (LTC) price today
Litecoin rose 1.39% in 24 hours. At the time of writing, it was trading at $65.15. The LTC price in India was Rs 5,233.90.
Ripple (XRP) price today
XRP price was $0.588, up 1.08% in 24 hours. Ripple price in India was 47.96 rupees.
Solana (SOL) price today
Solana's price was $138.55, an increase of 4.91% in 24 hours. The SOL price in India was Rs 11,239.17.
Top crypto earners today (September 19th)
According to data from CoinMarketCap, the top 5 cryptocurrencies that gained in the past 24 hours are:
Sei (SEI)
price: $0.3409
24 hour increase: 21.61%
Pop Cat (SOL) (Pop Cat)
price: $0.8593
24 hour increase: 19.59%
Celestia (TIA)
price: $6.11
24 hour increase: 15.27%
Sui (SUI)
price: $1.39
24 hour increase: 14.90%
Phantom (FTM)
price: $0.651
24 hour increase: 12.63%
Top Cryptocurrency Losers Today (September 19th)
According to CoinMarketCap data, the top 5 crypto losers in the past 24 hours are:
Nervos Network (CKB)
price: $0.01764
24 hours loss: 9.92%
KuCoin Token (KCS)
price: $7.46
24 hours loss: 3.42%
Monero (XMR)
price: $171.70
24 hours loss: 1.17%
Tether Gold (XAUt)
price: $2,566.12
24 hours loss: 0.37%
Flare (FLR)
price: $0.01479
24 hours loss: 0.33%
What crypto exchanges are saying about the current market scenario
Edul Patel, co-founder and CEO of Mudrex, told ABP Live: “The long-awaited 50 basis point federal rate cut has triggered a strong rally in the crypto market, with further rate cuts expected by the end of 2024. That's expected. Bitcoin is trading up more than 3%.” Approximately $62,000 after a temporary decline due to profit taking. If these levels hold, BTC could attempt a rally toward $63,000 soon, with important support near the $60,100 mark. Other coins such as Ethereum, BNB, and Solana also rose as much as 4% on strong momentum and the Fed's positive economic outlook. ”
“The Federal Reserve announced a 50 basis point cut in its benchmark interest rate on Wednesday, marking the first reduction since the start of the COVID-19 pandemic,” CoinSwitch Market Desk said. The decision sparked a market-wide rally, with Bitcoin soaring above $62,000 and the S&P 500 index rising 0.7%. Lower interest rates are often seen as bullish for Bitcoin as it allows investors to borrow cheaper to buy riskier assets like BTC. ”
Avinash Shekhar, Co-Founder and CEO of Pi42, wrote, “Bitcoin’s Battle at $60,000: Prices Rise Above $62,000 Following Federal Reserve Interest Rate Cut.” Short-term holders have been selling since August amid the surge, indicating that the price could bottom out during the long period.”・Term holders continue to support prices above $60,000, creating a tug-of-war between bulls and bears. With further rate cuts likely, Bitcoin could develop further in the future, and the $60,000 level could be a key battleground for market momentum. ”
Satvik Vishwanath, CEO and co-founder of Unocoin, said: Bitcoin needs to break above its 200-day moving average near $64,000. The 4-hour chart shows the market has been making higher highs and lower lows since the rebound, suggesting a potential breakout of $60,000 is imminent and heading towards $64,000. preparations are being made for a new move. The RSI for this time frame reflects bullish momentum without being overbought, indicating the potential for a short-term price increase. ”
The CoinDCX research team told ABP Live: “The crypto market rose as the US Federal Reserve lowered interest rates by 50 basis points. Following this announcement, BTC regained the $62,000 level, but most alt… The coin was on an uptrend. Technically, BTC would need to sustain above $62,000 to maintain its momentum toward the $70,000 level. We may see another volatile price move. BTC's dominance continues to rise, reaching a yearly high of over 58%. However, ETH remains a laggard and the ETH/BTC pair has fallen. It continues and there are no clear signs of bottoming out yet.”
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Disclaimer: Crypto products and NFTs are unregulated and can be extremely risky. Regulatory remedies may not be available for losses from such transactions. Cryptocurrencies are not legal tender and are therefore subject to market risks. Readers are advised to seek professional advice and carefully read the offer document together with relevant key literature on the subject before making any type of investment. cryptocurrency Market forecasts are speculative and investments are made at the reader's sole expense and risk.
