Bitcoin (BTC) and Ethereum (ETH), the world’s most value cryptocurrencies, saw a dent in their bull run as their prices dipped to the $20,000 and $1,600 range, respectively. The reason behind the sudden dip is largely attributed to the US inflation data released last night. Other popular altcoins, including the likes of Dogecoin (DOGE), Litecoin (LTC), and Ripple (XRP), landed in the reds across the board. The Terra Classic (LUNC) emerged to be the biggest gainer in the last 24 hours, with a jump of nearly 8 percent. On the other hand, Solana (SOL) turned out to be the biggest loser.
At the time of writing, the global crypto market cap stood at $1 trillion, marking a 5.90 percent dip in the last 24 hours, as per CoinMarketCap data.
Bitcoin (BTC) price today
As per CoinMarketCap, Bitcoin saw a 24-hour loss of 9.44 percent, priced at $20,307.81. As per Indian exchange WazirX, BTC price stood at Rs 17.25 lakhs.
Ethereum (ETH) price today
ETH price stood at $1,612.11, marking a 24-hour dip of 6.39 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.37 lakhs.
Dogecoin (DOGE) price today
DOGE registered a 24-hour loss of 4.72 percent as per CoinMarketCap data, currently priced at $0.06066. As per WazirX, Dogecoin price in India stood at Rs 5.14.
Litecoin (LTC) price today
Litecoin saw a 24-hour dip of 3.73 percent. At the time of writing, it was priced at $59.38. LTC price in India stood at Rs 4,905.01.
Ripple (XRP) price today
XRP price stood at $0.3376, seeing a 24-hour loss of 5.26 percent. As per WazirX, Ripple price stood at Rs 28.20.
Solana (SOL) price today
Solana price stood at $33.59, marking a 24-hour loss of 13.20 percent. As per WazirX, SOL price in India stood at Rs 2,830.
Top crypto gainers today (September 14)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
Terra Classic (LUNC)
24-hour gain: 7.66 percent
24-hour gain: 6.13 percent
24-hour gain: 4.21 percent
Kyber Network Crystal v2 (KNC)
24-hour gain: 3.89 percent
24-hour gain: 1.65 percent
Top crypto losers today (September 14)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
24-hour loss: 11.58 percent
24-hour loss: 10.11 percent
24-hour loss: 9.60 percent
24-hour loss: 9.45 percent
24-hour loss: 9.26 percent
What crypto exchanges are saying about the current market scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin, Ethereum, and most cryptocurrencies fell after the US inflation data disappointed investors on Tuesday as inflation rose more than expected. After a brief relief rally, BTC dipped to the $20,000 level in the past 24 hours. It may take some time for investors and traders to digest the report and get back to the market. On the other hand, the second largest cryptocurrency, Ethereum, also fell by 6 percent as the uncertainty around the Merge looms. If buyers can keep ETH above the $1,500 level, we may expect a local bounce back.”
Sathvik Vishwanath, CEO and co-founder of Unocoin said, “Just like the week started, Tuesday was also quite bearish as approximately 85 percent of coins and tokens among the top 100 ended up in the red zone. Notably, Bitcoin lost 6.4 percent in the last 24 hours whereas Ethereum lost 5.6 percent. The reasons for this crash are still unclear but speculations are made that it might be rising due to inflation in the strongest economy of the world, the US, the average loss throughout the market was in the range of 5-9 percent. The highest gainer was LUNC with approximately 7 percent and the highest loss faced by any coin or token was GLM with a loss of about 24 percent and is close to losing its newly acquired position in the top 100 coins and tokens. Ether prices should be constantly monitored due to merge being activated in just two days.”
weTrade founder Prashant Kumar offered his take on the market scenario as well, “Inflation rates once again influenced the global cryptocurrency market that led to a 6 percent decline during US trading hours, taking the global crypto market cap below $1 trillion. We are seeing the market react to the US consumer price index report that was higher than anticipated. Bitcoin, which was at $22,000 during Asia trading hours on Tuesday saw a 9 percent decline and has reached a resistance level of $20,000 on Wednesday morning. Ethereum also saw a 6.5 percent decline taking the cryptocurrency under $1,600. Similar trends could be seen in other coins including Solana, Cardano, and Dogecoin.”
Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Cryptocurrency is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Cryptocurrency market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.