Today, the cryptocurrency market finds itself in a holding pattern, with Bitcoin trading consistently within the range of $92,000 to $96,000. As Bitcoin maintains its limited movement, altcoins have experienced significant price decreases. Specifically, Virtual Protocols (VIRTUAL) fell by 11% over the past day, and AI16Z dipped by 8%.
As a researcher studying the cryptocurrency market, it’s clear that the collective price movements reflect an increasing unease among investors. Factors such as the liquidations at FTX and whispers of a potential U.S. government sale of Bitcoin seized from the Silk Road are significant contributors to this apprehension. These events have undeniably influenced the overall sentiment among investors.
Worldwide cryptocurrency markets saw a dip of nearly 1%, resulting in an estimated total market value of about $3.3 trillion. The trading volume has decreased as well, currently sitting at approximately $74 billion – a figure lower compared to the previous week’s figures.
Here’s an overview of some leading cryptocurrencies and their prices on Jan 13.
Crypto Market Today: Bitcoin Holds Range, Altcoins Decline
The price of Bitcoin dipped by about 0.5% over the last day, staying within its common fluctuations on January 13th. Simultaneously, significant cryptocurrencies such as Ethereum, Ripple, and Solana saw declines ranging from 1% to 5%.
Today, the crypto market is treading with caution as investors keep a close eye on important updates preceding President-elect Donald Trump’s inauguration next week. The way he approaches digital assets may have a substantial impact on the market trend over the upcoming weeks.
Bitcoin Market Today
The cost of a single Bitcoin (BTC) was being exchanged around $94,275, having dropped as low as $93,743 and reaching a high of $95,869 in the past 24 hours. At present, the total market capitalization of BTC has dipped below the $2 trillion threshold, currently estimated at around $1.86 trillion.
Today in the cryptocurrency market, there was a shift of approximately $900 million in Bitcoin on the day marking the 16th anniversary of the famous “Bitcoin” tweet. Although this event sparked quite a stir, the price fluctuations of Bitcoin have continued to be confined within a specific range, suggesting that the broader market is exercising caution.
Ethereum Market Today
In simpler terms, the cost of Ethereum (ETH) was around $3,257 yesterday, marking a decrease of about 1% compared to the previous 24 hours. The lowest it went in that period was $3,225, while its highest point reached $3,336.
Based on information from Coinglass, the value of Ethereum (ETH) liquidations amounted to approximately $7.7 million over the last 24 hours. Approximately $1.1 million of this total came from long positions, while a substantial $6.6 million was from short positions. This suggests that the market has experienced heightened volatility recently.
XRP Market Today
At the moment, the value of XRP was being exchanged for approximately $2.52. Over the past day, there was a minor decrease of less than one percent. The lowest and highest points in the last 24 hours were $2.47 and $2.56 respectively.
Experienced trader Peter Brandt notes that the XRP chart appears to be developing a bull flag formation on its daily scale. If this pattern holds true, XRP could experience a significant surge, potentially reaching a target price of around $3.40. In the current crypto market landscape, XRP is a coin worth keeping an eye on for traders anticipating positive price movements.
Solana Market Today
Today, the Solana (SOL) price stood at approximately $185. Over the past 24 hours, it reached a low of $184 and a high of $191. Even amidst overall market stress, Solana managed to hold its ground.
Top Crypto Market Gainers Today
As per crypto prices today, here are the top 5 crypto gainers over the last 24 hours:
Hyperliquid (HYPE)
Price: $21.51
24-hour gain: +5%
KuCoin Token (KCS)
Price: $11.31
24-hour gain: +4.5%
Raydium (RAY)
Price: $4.59
24-hour gain: +2%
Monero (XMR)
Price: $199
24-hour gain: +1.8%
XDC Network (XDC)
Price: $0.1012
24-hour gain: +1%
Top Crypto Loser Market Today
As per crypto prices today, here are the top 5 crypto losers over the last 24 hours:
Virtual Protocols (VIRTUAL)
Price: $2.58
24-hour loss: -11%
AI16Z (AI16Z)
Price: $1.08
24-hour loss: -8%
SPX6900 (SPX)
Price: $0.997
24-hour loss: -7.5%
Ondo (ONDO)
Price: $1.16
24-hour loss: -7%
Bitget Token (BGB)
Price: $6.78
24-hour loss: -6.35%
Meme Crypto Market Today
Meme-based cryptocurrencies have experienced a decline in the past 24 hours. The value of Dogecoin (DOGE) decreased by 1.87%, currently standing at $0.3329, with its lowest and highest points within this period being $0.3319 and $0.3453 respectively. As reported by Coingape, the open interest for Dogecoin reached $3.5 billion due to news related to Trump’s inauguration. In a similar vein, Shiba Inu (SHIB) dropped by 3.2% and is now being traded at $0.00002101.
Apart from MEME, other popular coins such as PEPE, BONK, PENGU, and WIF have seen a dip of around 3-5% over the past day.
In a more optimistic turn, Bitcoin (BTC) experienced a minor increase of 0.2% within the past hour, providing a glimmer of hope. On the other hand, Ethena (ENA) price surged by 2% in the same timeframe, while the majority of alternative coins exhibited bearish trends, maintaining negative values as of this writing. Overall, the cryptocurrency market today presents a mixed picture, with certain areas showing signs of recovery amidst ongoing losses.
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2025-01-13 07:14