Bitcoin, the world’s oldest and most valued crypto, continued to trade sideways and remained below $30,000 early Friday morning. Other popular altcoins — including the likes of Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Solana (SOL), and Litecoin (LTC) — saw a mix of minor dips and gains across the board. The market fear and greed index stood at neutral, with a score of 51 (out of 100). The ImmutableX (IMX) token emerged to be the biggest gainer, with a 24-hour jump of nearly 13 percent. Maker (MKR), on the other hand, turned out to be the biggest loser, with a 24-hour dip of nearly 6 percent.
The global crypto market cap stood at $1.18 trillion at the time of writing, registering a 24-hour dip of 0.55 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $29,230.02, registering a 24-hour dip of 0.63 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 25.37 lakh.
Ethereum (ETH) Price Today
ETH price stood at $1,862.31 marking a 24-hour loss of 0.82 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.61 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour dip of 1.30 percent, as per CoinMarketCap data, currently priced at $0.07728. As per WazirX, Dogecoin price in India stood at Rs 6.69.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour loss of 0.50 percent. At the time of writing, it was trading at $90.88. LTC price in India stood at Rs 7,766.17.
Ripple (XRP) Price Today
XRP price stood at $0.7137, seeing a 24-hour loss of 0.70 percent. As per WazirX, Ripple price stood at Rs 61.99.
Solana (SOL) Price Today
Solana price stood at $24.93, marking a 24-hour dip of 0.24 percent. As per WazirX, SOL price in India stood at Rs 2,189.91.
Top Crypto Gainers Today (July 28)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
ImmutableX (IMX)
Price: $0.8167
24-hour gain: 12.96 percent
Casper (CSPR)
Price: $0.04058
24-hour gain: 6.54 percent
Nexo (NEXO)
Price: $0.6543
24-hour gain: 4.17 percent
Internet Computer (ICP)
Price: $4.26
24-hour gain: 2.51 percent
Stellar (XLM)
Price: $0.1615
24-hour gain: 2.29 percent
Top Crypto Losers Today (July 28)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
Maker (MKR)
Price: $1,165.33
24-hour loss: 5.87 percent
Theta Network (THETA)
Price: $0.7804
24-hour loss: 5.40 percent
XDC Network (XDC)
Price: $0.05984
24-hour loss: 4.70 percent
Mantle (MNT)
Price: $0.5143
24-hour loss: 4.00 percent
Synthetix (SNX)
Price: $2.84
24-hour loss: 3.38 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “In a brief surge, Bitcoin surpassed the $29,500 level yesterday but is now consolidating at approximately $29,200. This drop followed news of the Bank of Japan contemplating changes to its yield curve control policy to manage real-time interest rates. Bitcoin remained unaffected by interest rate hikes from both the US central bank and the European Central Bank over the past 24 hours. However, if it fails to break through the $29,300 resistance, a continued downward movement is possible.”
Parth Chaturvedi, Investments Lead, CoinSwitch Ventures, said, “BTC (-0.6 per cent) is holding steady at around $29,200 and traded within a tight range of $29,000-29,500 in the last 24 hours. The top 10 cryptos by market capitalisation seem to be trading in the red, except for Solana. SOL (+0.9 percent) has been trading below a strong resistance level due to the weakening in its buying strength. Simultaneously, the Federal Reserve's interest rate hike, followed by a higher-than-expected US GDP, raises concerns about prolonged high rates. This may impact the market’s future price action, as investors may begin to move towards ‘risk-off’ asset classes.”
Rajagopal Menon, Vice President, WazirX, offered his take, “Bitcoin remains stagnant, trading slightly above $29,240. It experienced a 0.3 percent drop over the past 24 hours, maintaining its range between $29,000 to $31,800 since mid-June. Despite global economic concerns and rate hikes, BTC shows resilience, with experts anticipating significant upward movement in the 2024 halving event. On WazirX, Pendle (PENDLE) and Venus (XVS) have been the top gainers in the last 24 hours.”
Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “Bitcoin technical analysis reveals that the cryptocurrency has found support at around $28,850, which is evident from the Doji series and rotating candles closing above this level. Currently, Bitcoin is trading just below notable resistance at $29,500, bolstered by a descending trend line on the four-hour time frame. This suggests the possibility of a minor BTC price correction today. Notably, Bitcoin broke through the 50-period exponential moving average (EMA), which previously acted as resistance around $29,250 and now serves as a support level. A close above this level may signal a continuation of the bullish trend, with further resistance likely around $30,000 and $30,350. Conversely, a drop below $28,850 could lead to a decline towards $28,000.”
Shivam Thakral, the CEO of BuyUCoin, said, “Over the past 24 hours, there has been a noticeable change in patterns in the dynamic world of cryptocurrencies. The total crypto market volume has shrunk to $25.71 billion, experiencing a dramatic 17.43 percent decline, leading market players to pause for thought. With a total volume of $2.58 billion, DeFi continues to be strong and resilient in these circumstances, accounting for 10.05 percent of the 24-hour activity throughout the whole crypto market. After a Nikkei report regarding Japan's probable adjustment to its yield curve control policy, Bitcoin briefly declined. However, it is now stable around $29,211.02, demonstrating its unwavering dominance.”
CoinDCX Research Team told ABP Live, “Bitcoin remained above $29,000 despite the US Federal Reserve's decision to raise the interest rate by 25 basis points (bps). The world's largest crypto asset rose 1.5 percent within hours peaking $29,690 before retracing back to $29,300 levels. Bitcoin continues to stay within a narrow range between $29,000 and $31,500 for over a month with over 3.4 million Bitcoin addresses buying the dip below $30,000.”
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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.
