Cryptocurrency Price Today: Bitcoin, Ether See Bullish Momentum, Solana, Dogecoin Maintain Gains

More and more cryptocurrencies recorded losses on Wednesday 24 April due to the volatility that took over the market after the BTC halving. Bitcoin recorded a loss of 0.56% to trade at a price of $65,693 (around Rs. 54.7 lakh), according to Gadgets360 cryptocurrency price tracker. On international exchanges like Binance, Bitcoin is trading at a slightly higher price of $66,359.69 (around Rs. 55.2 lakh). According to market analysts, a gradual bullish trend in BTC would benefit altcoins.

Ether has joined Bitcoin on the losing side of the cryptocurrency market. The asset, at the time of writing, was trading at $3,037 (around Rs. 2.5 lakh) after suffering a price decline of 1.79%.

“Bitcoin saw its first red day after five consecutive green days, with the market constantly balanced between bulls and bears. Ethereum, on the other hand, showed slight strength against BTC even though the chances of ETF approval in May were considerably low,” the CoinSwitch Markets Desk told Gadgets360. “Bitcoin’s 200-day average price, one of the most monitored indicators, it is reaching the highest levels in the last two years. As for Ether, the year-end price target stands at $8,000 (approximately Rs. 6.66 lakh).”

Among most cryptocurrencies reflecting losses on Wednesday, Bind, Ripple, Dogemoneta, Shiba Inu, AvalancheAND Polka dot they wrote down their names.

Chain shirt, Close to the protocol, Chrono, StellarAND Cosmos also liquidated at losses.

“Altcoins have shown mixed results. Meme coins like Bonk and Pepe are currently leading the market. However, there is concern about Mt. Gox’s plan to distribute cryptocurrencies, including a significant amount of BTC and yen, by October 2024. Some creditors anticipate payments, while others fear selling pressure in October,” the team said of CoinDCX at Gadgets360.

In the meantime, Binance coin, Solana, Dogemoneta, Tron, PolygonAND Litecoin reflected small gains alongside Leo AND Uniswap.

Smaller profits were also recorded EOS coin, Ardor, IotaAND Zcash.

“Solana has broken through its resistance at $150 and is showing signs of further rally. The next resistance is believed to be at $161 if current trading volumes persist. XRP has managed to maintain its steady momentum despite the ongoing legal dispute with the SEC. It appears to have minimal effect on investors. The cryptocurrency market appears to be on a stable trajectory following its retracement right before the halving,” Rajagopal Menon, vice president of WazirX, told Gadgets360.

The overall market capitalization of the cryptocurrency sector increased by 1.37% in the last 24 hours. With this, the valuation of the cryptocurrency market stands at $2.47 trillion (approximately Rs. 2,05,73,988 crore), it showed CoinMarketCap.

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