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Bitcoin sees slight dip ahead of Modi 3.0’s first Union Budget presentation
Bitcoin (BTC), the world’s oldest and most valuable cryptocurrency, fell below $67,000 early Tuesday ahead of the Union Budget. Other popular altcoins, including Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Solana (SOL), and Litecoin (LTC), landed largely in the red, with the overall market Fear and Greed Index standing at 63 (Greed) out of 100, according to data from CoinMarketCap. Ethereum Name Service (ENS) token emerged as the biggest gainer, surging nearly 3% over 24 hours. Mog Coin (MOG) emerged as the biggest loser, falling more than 13% over 24 hours.
At the time of writing, the global cryptocurrency market capitalization stood at $2.42 trillion, down 1.86% over 24 hours.
Bitcoin (BTC) price today
Bitcoin price settled at $66,401.74, registering a 1.95% decline over 24 hours, according to CoinMarketCap. According to Indian exchanges, BTC price stood at Rs 45.03 lakh.
Ethereum (ETH) Price Today
ETH price stood at $3,430.01, down 2.19% in 24 hours at the time of writing. Ethereum price in India stood at Rs 2.13 lakhs.
Dogecoin (DOGE) Price Today
DOGE has registered a 5.05% loss over 24 hours, according to data from CoinMarketCap, currently priced at $0.1336. The price of Dogecoin in India stood at Rs 8.91.
Litecoin (LTC) Price Today
Litecoin has registered a 3.30% decline over 24 hours. At the time of writing, it was trading at $70.84. The LTC price in India stood at Rs 5,023.08.
Ripple (XRP) Price Today
XRP price settled at $0.5969, up 0.42% over 24 hours. Ripple price in India stood at Rs 43.20.
Solana (SOL) course today
Solana price settled at $174.03, marking a 3.47% decline over 24 hours. SOL price in India settled at Rs 10,250.
Top Cryptocurrency Gainers Today (July 23)
According to data from CoinMarketCap, here are the top five cryptocurrency gainers over the past 24 hours:
Ethereum Name Service (ENS)
Price: $26.89
24 hour gain: 2.57 percent
Bitget Token (BGB)
Price: $1.19
24 hour gain: 0.98 percent
UNUS SED LEO (LEO)
Price: $5.78
24 hour gain: 0.68 percent
Ripple (XRP)
Price: $0.5966
24 hour gain: 0.20 percent
Ethereum Classic (ETC)
Price: $23.82
24 hour gain: 0.16 percent
Biggest Cryptocurrency Losers Today (July 23)
According to data from CoinMarketCap, here are the top five crypto losers over the past 24 hours:
Mog Coin (MOG)
Price: $0.00000197
24 hour loss: 13.25 percent
Bonk (BONK)
Price: $0.00002812
24 hour loss: 11.76 percent
Ethena (ENA)
Price: $0.4335
24 hour loss: 9.48 percent
Bittensor (TAO)
Price: $314.33
24 hour loss: 8.55 percent
Notcoin (PAS)
Price: $0.01428
24 hour loss: 8.46 percent
What Cryptocurrency Exchanges Are Saying About the Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live: “Bitcoin is consolidating around the $67,000 level as market participants book profits and the US dollar strengthens. Despite this, bullish sentiment remains strong with Bitcoin gaining around 5% in the past week. The key resistance level lies at $68,300 while the support lies at $66,500. Additionally, Ether ETFs are expected to start trading today, signaling SEC approval. This development is expected to attract interest from institutional investors, which could further boost market activity.”
CoinSwitch Markets Desk noted: “Bitcoin continues its upward trend by finding support at the crucial $66,600 level – however, $69,000 is a major resistance that needs to be broken with volumes to give BTC a chance to break all-time highs again. On the other hand, US regulators have now given final approval to Ethereum-based ETF products, meaning institutions will now have access to over 71% of the $2.45 trillion crypto asset sector directly through regulated products. Finally, the Indian Union Budget is set to be announced today, and the crypto industry is hoping for tax cuts.”
Sathvik Vishwanath, CEO and Co-founder of Unocoin, said, “Bitcoin (BTC/USD) is currently trading at $67,410, a slight decline of almost 1%. On the 4-hour chart, $66,660 serves as a crucial pivot point for traders. Immediate resistance levels are seen at $68,420, followed by $69,250 and $70,090. Support is noted at $65,880, with further levels at $65,120 and $64,300. Technical indicators are offering mixed signals: the RSI stands at 55, indicating neutrality, while the 50-day EMA at $66,250 suggests a buying trend above $66,000.” An ascending trendline near $66,660 provides additional bullish support, with Bitcoin’s outlook remaining positive above this level. However, a break below $66,660 could trigger a significant downtrend.
CoinDCX’s research team told ABP Live: “The cryptocurrency market has been trading sideways as volatility remains high with a mix of news and announcements. Ethereum is set to begin trading today, with the SEC greenlighting, and the price reaction remains to be seen. This week is crucial and is expected to be highly volatile due to several factors. Key macroeconomic events include the US GDP data for the quarter, the PCE price index, and jobless claims, all of which could influence market movements. Additionally, Mt. Gox creditors will also receive their BTC and BCH, with market reactions uncertain. Finally, this weekend’s Bitcoin conference, with Donald Trump as the keynote speaker, could have a significant impact on the market.”
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Disclaimer: Cryptocurrency and NFTs are unregulated and can be very risky. There may be no regulatory recourse for losses resulting from such transactions. Cryptocurrency is not legal tender and is subject to market risks. Readers are advised to seek expert advice and carefully read the offering documents and related important documentation on the subject matter before making any type of investment. Cryptocurrency Market predictions are speculative and any investments made will be at the sole cost and risk of the readers.