Crypto Price Today: Bitcoin, Ether Continue to Trade Flat, Most Cryptocurrencies Record Losses

In the last 24 hours, the value of Bitcoin has reduced by $302 (roughly Rs. 25,115).

Written by Radhika Parashar, Edited by Siddharth Suvarna | Updated: 18 January 2024 11:27 IST

Crypto Price Today: Bitcoin, Ether Continue to Trade Flat, Most Cryptocurrencies Record Losses

Photo Credit: Pexels/ Rodnae Productions

The current crypto market cap stands at $1.68 trillion

Highlights

Litecoin, Shiba Inu saw losses
Leo, Near Protocol saw gains
Neo Coin, EOS Coin saw losses

Bitcoin on Thursday, January 18 clocked a minor dip of 0.87 percent. The oldest, most expensive cryptocurrency was trading at the price point of $42,544 (roughly Rs. 35.3 lakh) at the time of writing. In the last 24 hours, the value of Bitcoin has reduced by $302 (roughly Rs. 25,115). Bitcoin's price has mostly remained flat since ETF approval with this fresh decline in the last 24 hours as the market continues to get accustomed to funds related to Bitcoin.

Ether recorded a loss of 2.03 percent on Thursday. With this, the value of Ether has hit $2,522 (roughly Rs. 2.09 lakh).

“Bitcoin and Ether witnessing marginal fluctuation from the previous day. If Bitcoin closes above $43,000 (roughly Rs. 35.7 lakh) this week, then we may witness a healthy surge in its price in the coming weeks. The Bitcoin ETF inflows are nearing the billion-dollar mark, which according to the experts, qualifies for a successful listing. We can expect a less volatile Bitcoin after the listing of ETFs as it's a regulated financial product now,” Shivam Thakral, CEO of BuyUcoin told Gadgets360.

RBI Governor Calls Crypto ‘Highly Speculative’ at Davos; Others Show Support

Majority altcoins are reflecting losses on Gadgets360's crypto price chart on Thursday. These include Tether, Solana, Ripple, Uniswap, Monero, and Chainlink.

Cardano, Avalanche, Dogecoin, Tron, and Polkadot are other altcoins that registered price reductions on Thursday.

“The US inflation data is falling back, and labour market indicators are in a position to enable the Fed to start slashing interest rates soon. This has been a cause of hope among market analysts who predict a favourable run for Crypto in the months following the rate cut, most likely in March. Liquidity issues in the market will also be reduced significantly due to this,” Rajagopal Menon, Vice President, WazirX told Gadgets360.

Bitwise Bitcoin ETF Collects Highest Inflow on First Trading Day

The overall market valuation dipped by 0.79 percent in the last 24 hours. Its current position stands at $1.68 trillion (roughly Rs. 1,39,70,787 crore), as per CoinMarketCap.

At present, the altcoins showing profits include USD Coin, Leo, Near Protocol, and Iota.

“From a technical perspective, there's a notable bullish indicator with the 50-week simple moving average (SMA) crossing above the 200-week SMA, a first in recorded history. However, upon closer examination, the previous weekly close appears bearish, contributing to mixed signals,” the CoinDCX reearch team told Gadgets360.

In another news, while stablecoin issuer Circle had recently filed for an IPO in the US, it has now tied up with the biggest oracle provider Chainlink to also allow people to do easy and convenient cross chain swaps.

Is the Samsung Galaxy Z Flip 5 the best foldable phone you can buy in India right now? We discuss the company's new clamshell-style foldable handset on the latest episode of Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

Affiliate links may be automatically generated - see our ethics statement for details.

Cryptocurrency Prices across Indian exchanges

Comments

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.

Further reading: Cryptocurrency, Bitcoin, Ether, Qutm, Wrapped Bitcoin, Zcash, Tether, USD Coin, Ripple, Binance USD, Binance Coin, Cardano, Polygon, Solana, Polkadot, Dogecoin, Shiba Inu, Litecoin, Uniswap, Tron, Monero, Dash, Bitcoin Cash, Flex, Cartesi, Braintrust, Kishu Inu, Circuits of Value

Radhika Parashar

Email Radhika

Radhika Parashar is a senior correspondent for Gadgets 360. She has been reporting on tech and telecom for the last three years now and will be focussing on writing about all things crypto. Besides this, she is a major sitcom nerd and often replies in Chandler Bing and Michael Scott references. For tips or queries you could reach out to her at RadhikaP@ndtv.com. More