Bitcoin (BTC) Experiences Dip Below $85,000
Bitcoin, the oldest and most prominent cryptocurrency, fell below the $85,000 threshold early Thursday. In contrast, several notable altcoins such as Ethereum (ETH), Solana (SOL), Ripple (XRP), and Litecoin (LTC) showed positive movement, as reflected by the Market Fear & Greed Index, which reported a score of 30 (indicating fear) out of a total of 100 according to CoinMarketCap. Among the cryptocurrencies, Helium (HNT) emerged as the leading gainer, boasting a nearly 8 percent increase over the last 24 hours, while Mantra (OM) continued its downward trend, marking its fourth consecutive day of losses with an 11 percent decline.
Global Crypto Market Overview
At the time of this report, the total market capitalization of the global cryptocurrency market reached $2.65 trillion, reflecting a modest 0.55 percent increase over the past day.
Current Bitcoin Pricing
Bitcoin’s price was recorded at $84,149.89, representing a 0.69 percent rise in the last 24 hours, as per CoinMarketCap data. In the Indian market, Bitcoin was valued at approximately Rs 72.56 lakh.
Ethereum’s Market Status
Ethereum’s price was noted at $1,591.35, which translates to a 0.24 percent increase over the previous 24 hours. In India, the price of Ethereum was approximately Rs 1.39 lakh.
Dogecoin Market Update
Dogecoin (DOGE) experienced a 24-hour increase of 0.91 percent, with its current price pegged at $0.1563. In the Indian market, Dogecoin’s price stood at Rs 14.16.
Litecoin Price Movements
Litecoin (LTC) saw a decrease of 1.65 percent over the past day, trading at $74.71 at the time of this report. Its price in India was approximately Rs 6,695.84.
Ripple Pricing Insights
Ripple (XRP) was priced at $2.08, showing a slight increase of 0.18 percent over the last 24 hours. In India, XRP was valued at Rs 183.79.
Solana Price Update
Solana’s price was recorded at $131.23, marking a significant 3.94 percent jump within the last 24 hours. In India, Solana was priced at Rs 10,952.16.
Leading Crypto Gainers Today
According to data from CoinMarketCap, the top five cryptocurrencies that gained the most over the past 24 hours are as follows:
Helium (HNT) Price: $3.55, with a 24-hour gain of 7.75 percent
Core (CORE) Price: $0.5887, with a 24-hour gain of 5.61 percent
Raydium (RAY) Price: $2.20, with a 24-hour gain of 2.99 percent
Solana (SOL) Price: $129.86, with a 24-hour gain of 2.77 percent
Fartcoin (FARTCOIN) Price: $0.8806, with a 24-hour gain of 2.69 percent
Leading Crypto Losers Today
Data from CoinMarketCap reveals the top five cryptocurrencies that faced losses over the last 24 hours:
Mantra (OM) Price: $0.6867, with a 24-hour loss of 10.30 percent
Movement (MOVE) Price: $0.2403, with a 24-hour loss of 10.17 percent
Celestia (TIA) Price: $2.26, with a 24-hour loss of 7.23 percent
JasmyCoin (JASMY) Price: $0.0134, with a 24-hour loss of 5.95 percent
Theta Network (THETA) Price: $0.6313, with a 24-hour loss of 5.79 percent
Market Insights from Crypto Experts
Edul Patel, CEO and co-founder of Mudrex, commented, “Currently, Bitcoin is fluctuating within a narrow range of $83,100 to $85,400 as traders await a definitive breakout signal. The prevailing macroeconomic uncertainty has kept prices subdued, although Bitcoin Spot ETFs have contributed positively with over $76 million in net inflows. Furthermore, Fed Chair Powell’s favorable comments regarding stablecoins have stirred hopes for more conducive regulatory measures in the crypto space. However, his cautious remarks about tariffs have tempered expectations for imminent interest rate cuts, leading to some profit-taking. A decisive price movement above $86,300 could set off a new upward trend, with robust support around $82,000.”
The CoinSwitch Markets Desk noted, “Recent declines in global financial markets have been driven by rising trade tensions and a cautious sentiment among investors. The S&P 500 fell by 2.2%, closing at 5,275.70, while the Dow Jones Industrial Average dropped 1.7% to 39,669.39, and the Nasdaq Composite decreased by 3.1% to 16,307.16. Bitcoin traded around $84,000, recovering from earlier lows of below $77,000 this month. Despite this recovery, trading volumes remain low, reflecting ongoing investor caution amid persistent trade uncertainties, particularly with President Trump imposing a 245% tariff on Chinese imports.”
Avinash Shekhar, Co-founder & CEO of Pi42, stated, “While Bitcoin remains relatively stable, market sentiment is still cautious, especially with the U.S. government hinting at potential tariffs on China, which heightens macroeconomic tensions. CryptoQuant indicates a stall in whale accumulation and increasing pressure on miners, suggesting potential short-term volatility for Bitcoin. Ethereum is also facing challenges regarding value accrual tied to its roadmap for data availability, which may impact investor confidence. In the altcoin sphere, XRP and Dogecoin are following different trajectories, with XRP struggling against bullish trends while Dogecoin thrives on meme-driven enthusiasm.”
Sathvik Vishwanath, CEO and co-founder of Unocoin, remarked, “Bitcoin is trading around $83,170, reflecting a bearish outlook with a 14-day RSI indicating neutral momentum at 42.66. Technical indicators are hinting at a possible ‘death cross,’ where the 50-day moving average may dip below the 200-day moving average, which could suggest further declines. Support levels are identified at $76,000 and $73,800, with resistance near $89,000. Despite some accumulation by large investors, selling pressure is evident, driven by macroeconomic uncertainties and outflows from ETFs. Although April has historically been favorable for Bitcoin, the current market conditions call for cautious optimism.”
The CoinDCX Research Team observed, “The cryptocurrency markets have once again experienced a downturn as Bitcoin slipped below the $84,000 mark. However, bullish traders remain vigilant despite the increase in bearish activity, as prices hold above recent gains. Altcoins are also showing consolidation within a narrow range, with trading volumes significantly decreasing, indicating diminished bullish momentum. Among the top gainers, Core has risen 7.5%, Helium has climbed 6.2%, and Hyperliquid has surged over 3%. Conversely, Movement has declined over 10%, while both Celestia (TIA) and Mantra (OM) have dropped more than 7.5%.”
Disclaimer: Cryptocurrency and NFT investments are unregulated and carry high risks. There may be no regulatory recourse for any losses incurred during such transactions. Cryptocurrencies are not recognized as legal tender and are subject to market fluctuations. Readers are encouraged to seek professional advice and carefully review offer documents and other related materials before investing. Predictions regarding the cryptocurrency market are speculative, and any investment made is at the sole risk of the reader.
