Bitcoin (BTC), the world’s oldest and most valued cryptocurrency, managed to remain stable in the $70,000 range on Wednesday. The London Stock Exchange’s friendly stance toward Bitcoin and Ethereum exchange-traded notes (ETNs) and their upcoming March 28 market launch is widely believed to have driven the recent rally. Other popular altcoins – including Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Solana (SOL) and Litecoin (LTC) – also performed positively. Memecoin dogwifhat (WIF) became the biggest gainer of the lot, with a 24-hour jump of over 19 percent. KuCoin Token (KCS) became the biggest loser of the lot, with a 24-hour drop of over 13 percent.
Global crypto market capitalization stood at $2.66 trillion at the time of writing, registering a 24-hour drop of 0.07 percent.
Bitcoin (BTC) price today
The price of Bitcoin stood at $70,349.99, registering a 24-hour drop of 0.20 percent, according to CoinMarketCap. According to the Indian exchange WazirX, the price of BTC stands at Rs 60.76 lakh.
Ethereum (ETH) price today
The price of ETH stood at $3,604.53, marking a 24-hour loss of 0.63 percent at the time of writing. According to WazirX, Ethereum price in India stands at Rs 3.10 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour jump of 3.32 percent, according to CoinMarketCap data, currently trading at $0.1832. According to WazirX, Dogecoin price in India stands at Rs 15.76.
Litecoin (LTC) price today
Litecoin posted a 24-hour gain of 6.80 percent. At the time of writing, it was trading at $96.80. LTC price in India stands at Rs 8,201.03.
Ripple (XRP) price today
The price of XRP stood at $0.6315, marking a 24-hour loss of 1.97 percent. According to WazirX, the price of Ripple was Rs 54.98.
Solana (SOL) price today
Solana was priced at $189.95, marking a 24-hour decrease of 0.87 percent. According to WazirX, the price of SOL in India stands at Rs 16,621.79.
Top Profitable Cryptos Today (March 27)
According to CoinMarketCap data, here are the top five crypto gainers in the last 24 hours:
dog hat (WIF)
Price: $3.25
24 hour profit: 19.92 percent
Sui (SUI)
Price: $2.07
24 hour profit: 18.06 percent
Apartments (APT)
Price: $18.55
24 hour profit: 8.41 percent
Mantle (MNT)
Price: $0.9478
24 hour profit: 8.07 percent
shiba inu (SHIB)
Price: $0.00003114
24 hour profit: 7.66 percent
Top Crypto Losers Today (March 27)
According to CoinMarketCap data, here are the top five losing cryptocurrencies in the last 24 hours:
KuCoin Token (KCS)
Price: $12.45
24 hour loss: 13.19 percent
Bittensor (TAO)
Price: $584.86
24 hour loss: 8.07 percent
Toncoin (TON)
Price: $4.96
24 hour loss: 7.18 percent
Akash Network (AKT)
Price: $5.41
24 hour loss: 6.91 percent
Kaspa (KAS)
Price: $0.1376
24 hour loss: 6.22 per cent
What crypto exchanges say about the current market scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin had a balanced buying and selling activity over the last day, which saw price swings but eventually settled around $70,500. The London Stock Exchange’s announcement of the March 28 launch of Bitcoin and Ethereum exchange-traded notes (ETNs) added to the positive market sentiment. Bitcoin’s next resistance level is $70,979 and the next support level is $68,955. Ethereum also consolidated around $3600 in the last 24 hours. The prevailing mood in the market is extreme greed.”
CoinSwitch Markets Desk noted, “While BTC bulls managed to steer BTC prices above $70,000 following a retest of $69,000 as support, several analysts are predicting that there could also be a brief contraction in the cards. However, Ethereum, compared to BTC, was quite weak as the ETH/BTC chart failed to make a strong comeback from the 0.05 mark, with the odds of Ethereum ETF approval also decreasing for May. Yesterday’s biggest altcoin loser remains Fantom’s native token FTM, as after showing a 200% gain in two weeks, people seem to be booking some gains from the token. However, with its sonic upgrade scheduled to be released in the next few weeks, it will be interesting to see if the Fantom can live up to its hype.”
Rajagopal Menon, Vice President of WazirX said: “Bitcoin’s rally continues after reaching the $70,000 milestone, with expectations of a rally ahead as the pre-halving correction stalls. Selling pressure is intensifying for short sellers amid rising prices, but increased liquidity is expected due to ETF inflows. The $80,000 milestone seems achievable under current conditions. Ethereum peaked at $3,680 before a minor correction, with bulls maintaining dominance amid upbeat market sentiment reflected in its moving averages.”
Satvik Vishwanath, CEO and co-founder of Unocoin, said: “Spot Bitcoin ETFs saw turnover with net inflows of $15.7 million, snapping a five-day streak of outflows, according to data from SoSo Value. Fidelity’s FBTC leads with inflows of $261 million, contrasted with Grayscale’s GBTC outflow of $350 million. Despite the recent stagnation of assets under management at $30.62 billion, renewed investor confidence is evident. The London Stock Exchange’s plan to introduce BTC and ETH ETNs in May accelerated Bitcoin’s rise above $71,000. ETFs and ETNs are structurally different; however, both offer asset exposure. QCP Capital has seen increasing demand for BTC allocations and structured products and expects Bitcoin’s momentum to continue, potentially surpassing $100,000, attractive due to its independent returns amid market unpredictability.”
Shivam Thakral, CEO of BuyUcoin said: “Bitcoin is holding strong at the $70,000 level as it tries to break local resistance around $73,000. Since the beginning of the week, many new Bitcoin ETFs have appeared, suggesting bullish sentiment in the crypto market. The London Stock Exchange has announced that it will make Bitcoin and Ethereum available for trading as exchange-traded notes (ETNs) from May 28, 2024. These new ETFs and ETNs could push the price of Bitcoin to a new ATH sooner than expected.”
The research team at CoinDCX told ABP Live, “Over the past day, the crypto market experienced significant volatility, initially showing strength but turning bearish as the US market opened. Both BTC and ETH fell roughly 2% during the US market session, but have since recovered. BTC’s decline caused altcoins to fall. Overall, the trend remains bullish, with positive ETF inflows after several days of outflows, indicating continued interest. Tomorrow’s final US GDP (QoQ) announcement could bring further volatility to the market.”
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Disclaimer: Crypto products and NFTs are unregulated and can be very risky. There may be no regulatory protection for losses from such transactions. Cryptocurrency is not legal tender and is subject to market risks. Readers are advised to seek expert advice and read the offer document(s) carefully together with relevant relevant literature before making any investment. Cryptocurrency Market forecasts are speculative and any investment made is entirely at the readers’ own risk.