Bitcoin (BTC), the world's oldest and most valued cryptocurrency, failed to break the $27,000 mark due to ongoing uncertainties about the US debt ceiling, as well as rising inflation issues in the United Kingdom. Other popular altcoins including Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Litecoin (LTC) and Solana (SOL) landed in the red across the board as most coins traded sideways early Thursday. Neo (NEO) became the top gainer of the lot, jumping more than 4 percent in 24 hours. PancakeSwap (CAKE) became the biggest loser, down more than 12 percent in 24 hours.
The global crypto market capitalization stood at $1.10 trillion at the time of writing, recording a 24-hour drop of 1.84%.
Bitcoin (BTC) price today
The Bitcoin price stood at $26,176.35, recording a 2.19 percent drop in 24 hours, according to CoinMarketCap. According to the Indian exchange WazirX, the BTC price stood at Rs 23.44 lakh.
Ethereum (ETH) price today
The ETH price stood at $1,775.13, marking a 24-hour loss of 2.38 percent at the time of writing. According to WazirX, the Ethereum price in India stood at Rs 1.57 lakh.
Dogecoin (DOGE) Price Today
DOGE posted a 24-hour drop of 1.80 percent, according to data from CoinMarketCap, currently priced at $0.07019. According to WazirX, the Dogecoin price in India was Rs 6.30.
Litecoin (LTC) price today
Litecoin saw a 24-hour loss of 5.37 percent. At the time of this writing, she was trading at $84.25. The LTC price in India stood at Rs 7,500.
Ripple Price (XRP) Today
XRP price stood at $0.4528, with a 24-hour drop of 1.06 percent. According to WazirX, the Ripple price stood at Rs 40.
Solana (SOL) Price Today
Solana's price stood at $19.28, representing a 24-hour loss of 0.77 percent. According to WazirX, the SOL price in India stood at Rs 1,769.
Top cryptocurrency gainers today (May 25)
Based on CoinMarketCap data, here are the top five cryptocurrency gainers in the last 24 hours:
Neo (NEO)
Price: $10.62
24 hour gain: 4.51 percent
United Nations (UN)
Price: $46.22
24 hour gain: 0.77 percent
ONE BUT LEO (LEO)
Price: $3.58
24 hour gain: 0.66 percent
Monero (XMR)
Price: $150.60
24 hour gain: 0.40 percent
Gemini Dollars (GUSD)
Price: $0.9962
24 hour gain: 0.18 percent
Top crypto losers today (May 25)
Based on CoinMarketCap data, here are the top five cryptocurrency losers in the last 24 hours:
Pancake Exchange (CAKE)
Price: $1.57
Loss of 24 hours: 12.62 percent
Pepper (PEPPER)
Price: $0.00001407
Loss of 24 hours: 8.88 percent
Ghost (FTM)
Price: $0.3292
Loss of 24 hours: 8.67 percent
Coffee (COFFEE)
Price: $1.11
Loss of 24 hours: 8.47 percent
Immutable (IMX)
Price: $0.7079
Loss of 24 hours: 7.77 percent
What cryptocurrency exchanges are saying about the current market scenario
Mudrex co-founder and CEO Edul Patel told ABP Live: โBitcoin and Ethereum declined more than 3 percent amid rising concerns about UK inflation and US debt ceiling stalemate. . The release of the recent FOMC minutes, which highlight disagreement among US central bankers on interest rate hikes, further contributed to market uncertainty. Bitcoin witnessed a decline, reaching its lowest level since May 12, with a trading price of approximately $26,100. Similarly, Ethereum experienced a similar trend, falling below the $1800 mark."
CoinSwitch Investment Leader Parth Chaturvedi offered his take: โThe Crypto Fear and Greed Index remains in the neutral zone at 51, up 1 point. BTC is down ~4 percent in the last 24 hours and is trading near $26,000 levels, while ETH is down ~3.7 percent, trading around $1,770. The top ten cryptos by market capitalization are currently trading in the red due to macroeconomic uncertainty surrounding the ongoing US debt ceiling talks. Investors are also weighing in on the latest Fed meeting minutes. Federal published yesterday. Meanwhile, BTC's correlation with the NASDAQ index has fallen to its 17-month low, according to K33 Research."
WazirX Vice President Rajagopal Menon said: โLiquidity concerns, debt ceiling and tight monetary policies continue to weigh on crypto industry sentiment as Bitcoin falls below $27,000. Asia remains bullish regarding cryptocurrencies as more and more companies become skeptical of US regulations for VDAs."
Sathvik Vishwanath, CEO and Co-Founder of Unocoin, said: โBitcoin is currently worth around $26,100, with its first support level at $25,600 and resistance at $26,650. The second support level is at $25,200, while resistance is It's at $27,300. Based on the 200-day moving average on the daily candle, the Bitcoin price is within this range. In other crypto news, MBNB is down 2 percent to trade at $303, Ethereum is down 2.5 percent at $1,780, while ARPA is up a remarkable 30 percent, trading around $0.10949."
Shivam Thakral, CEO of BuyUCoin, said: โThe crypto market is facing heat due to regulatory uncertainty in major markets like the US. BTC fell by around 3.5 percent, while ETH also fell by the same percentage during the 24 hour period. We may see BTC looking for a lower support level of $25,000 as inflationary concerns coupled with the debt ceiling crisis are holding back market momentum."
The CoinDCX research team told ABP Live: โBitcoin faced a recent downturn, seeing a 2.26 percent drop in value, hitting $26,722 in the last 24 hours. The UK core Consumer Price Index (CPI) rate beat expectations and rose to 6.8%, the highest level since 1992. This persistent rise in core prices, which exclude food, energy and Tobacco, for three consecutive months, raises concerns as the Bank of England is likely to face increasing pressure to continue raising interest rates in the coming months.
Disclaimer: Crypto products and NFTs are unregulated and can be very risky. There may be no regulatory recourse for any loss from such transactions. Cryptocurrency is not legal tender and is subject to market risk. Readers are advised to seek expert advice and carefully read the offering documents along with relevant relevant literature before making any type of investment. cryptocurrency market predictions are speculative and any investment made will be at the sole risk and account of the readers.
