News
Bitcoin rises above $68,000, Notcoin remains the best gainer
Bitcoin (BTC), the world’s oldest and most valued cryptocurrency, managed to surpass the $68,000 mark early Wednesday. Other popular altcoins, including Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Solana (SOL), and Litecoin (LTC), posted smaller gains across the board as the overall Market Fear & Greed Index climbed it stands at 63 (Greed) out of 100, according to CoinMarketCap data. The Notcoin (NOT) token remained the top gainer for the second consecutive day, jumping more than 25% in 24 hours. PENDLE became the biggest loser, falling more than 6% in 24 hours.
At the time of writing, the global cryptocurrency market capitalization stood at $2.58 trillion, recording a 24-hour gain of 1.41%.
Bitcoin (BTC) price today
According to CoinMarketCap, the price of Bitcoin stood at $68,652.23, recording a jump of 1.33% in 24 hours. According to Indian exchange WazirX, the price of BTC stood at Rs 59.42 lakh.
Ethereum (ETH) price today
At the time of writing, ETH price stood at $3,871.37, marking a 24-hour gain of 0.50%. According to WazirX, the price of Ethereum in India stood at Rs 3.33 lakh.
Dogecoin (DOGE) price today
DOGE recorded a 24-hour jump of 2.47%, according to CoinMarketCap data, currently priced at $0.169. According to WazirX, the price of Dogecoin in India was Rs 14.50.
Litecoin (LTC) price today
Litecoin posted a 24-hour gain of 0.94%. At the time of this writing, it was trading at $83.99. The price of LTC in India stood at Rs 7,100.46.
Ripple (XRP) price today
XRP price settled at $0.5299, registering a 0.97% jump in 24 hours. According to WazirX, Ripple price stood at Rs 46.09.
Solana (SOL) Price today
Solana’s price settled at $171.63, marking a 24-hour gain of 3.14%. According to WazirX, the SOL price in India stood at Rs 14,700.
Top cryptocurrency gains today (May 29)
According to CoinMarketCap data, here are the five biggest cryptocurrency gains in the last 24 hours:
Notcoin (NOT)
Price: $0.009743
Earnings over 24 hours: 25.95%.
dogwifhat (WIF)
Price: $3.94
Earnings over 24 hours: 21.34%.
Celestia (TIA)
Price: $11.46
Earnings over 24 hours: 17.97%.
Shiba Inu (SHIB)
Price: $0.00002864
Earnings over 24 hours: 15.76%.
Book of Memes (BOME)
Price: $0.01546
Earnings over 24 hours: 14.49%.
Today’s Top Crypto Losers (May 29)
According to CoinMarketCap data, here are the top five cryptocurrency losers over the past 24 hours:
PENDLE (PENDLE)
Price: $6.47
Loss in 24 hours: 6.26%.
Lido DAO (LDO)
Price: $2.33
Loss in 24 hours: 4.22%.
Arweave (AR)
Price: $38.46
Loss in 24 hours: 2.60%.
KuCoin Token (KCS)
Price: $10.25
Loss in 24 hours: 1.37%.
Bitensor (TAO)
Price: $419.65
Loss in 24 hours: 1.18%.
What cryptocurrency exchanges are saying about the current market scenario
Mudrex co-founder and CEO Edul Patel told ABP Live: “Bitcoin consolidates at the $68,000 level following the $9 billion Mt. Gox move yesterday. However, there is an uptrend line key on the support at $67,600, the next resistance would be at $68,800 and then at $69,550. On the other hand, Ethereum continued to trade at the $3,800 level.”
CoinSwitch Markets Desk noted: “After falling below USD 67.5K, BTC recovered quickly enough to reclaim the USD 68,000 mark as BTC continues to trade in the tight range that has formed. Selling pressure on BTC appears to have come from the transfer of approximately 140,000 BTC worth more than $9 billion from the now defunct Mt Gox exchange to an unknown address on October 31, 2024. Since the purchase price of these cryptocurrencies is around $700, investors are sitting at around 100x profit and are expected to sell some of their holdings in receiving the Bitcoin back.”
Rajagopal Menon, vice president of WazirX, said: “Bitcoin value has plummeted to $68,725, sparking investor anxiety. Short-term sell-offs above $70,000 increase market volatility. Bitcoin fell $2,000 earlier to stabilize around $68,700. Analysts warn that if Bitcoin does not rise above $69,000, it could fall further. Immediate support is near $67,650, increasing market uncertainty due to recent price swings.”
Sathvik Vishwanath, CEO and co-founder of Unocoin, said: “Bitcoin bulls remain bullish despite the recent 2% price drop due to Mt.Gox coin movements. QCP Capital sees the drop as a small joke halting in the ongoing uptrend, citing strong US stock performance, political support and the upcoming Ether ETF as key bullish factors Analysts highlight the key limit at $68,383, with resistance at $69,566 and support at $68,127. The RSI at 49.37 suggests neutral sentiment, while the uptrend line supports further gains. Fundstrat predicts Bitcoin could reach $150,000 by the end of the year, underscoring patience and potential momentum above $70,000. .”
Shivam Thakral, CEO of BuyUcoin, said: “The cryptocurrency market remained volatile with BTC and ETH witnessing marginal fluctuations in their prices. BTC fell below the $68,000 mark but quickly recovered to the $68,000 mark. $68,800, maintaining a critical support level of $68,000. Ethereum, on the other hand, fell below the $3,900 mark, despite the euphoria over the ETF approval buzz. The meme coin space is gaining good traction with SHIB up nearly 16% in just 24 hours, the market is expected to remain volatile in the coming weeks due to uncertain macroeconomic conditions.”
CoinDCX’s research team told ABP Live: “The cryptocurrency market has been volatile due to the news of Mt. Gox moving BTC, causing many altcoins to fall. BTC is stuck between $68,000 and $ 69,000, with the short-term price action looking uncertain, although it remains strong and bullish in the higher time frame. ETH is also following the path of BTC and is hovering in a range In particular, tomorrow’s US GDP announcement could induce greater volatility.”
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