The global crypto market cap has dipped below $800 billion due to a severe increase in liquidation following the FTX crypto exchange collapse. While Bitcoin (BTC) managed to stay within the $16,000 range, most other altcoins — including the likes of Ethereum (ETH), Dogecoin (DOGE), Litecoin (LTC), Ripple (XRP), and Solana (SOL) — landed in the reds across the board. The UNUS SED LEO (LEO) token turned out to be the biggest gainer, albeit with a minor jump of less than 2 percent. Chiliz (CHZ) emerged to be the biggest loser, seeing a 24-hour loss of over 17 percent.
At the time of writing, the global crypto market cap stood at $794.02 billion, registering a 24-hour dip of 5 percent.
Bitcoin (BTC) price today
Bitcoin price stood at $16,168.17, seeing a 24-hour loss of 3.11 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 14.10 lakhs.
Ethereum (ETH) price today
ETH price stood at $1,134.17, marking a 24-hour dip of 7.03 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 99,494.70.
Dogecoin (DOGE) price today
DOGE registered a 24-hour loss of 10.62 percent as per CoinMarketCap data, currently priced at $0.07616. As per WazirX, Dogecoin price in India stood at Rs 6.85.
Litecoin (LTC) price today
Litecoin saw a 24-hour dip of 5.16 percent. At the time of writing, it was trading at $60.37. LTC price in India stood at Rs 5,375.35.
Ripple (XRP) price today
XRP price stood at $0.3571, seeing a 24-hour loss of 9.06 percent. As per WazirX, Ripple price stood at Rs 31.
Solana (SOL) price today
Solana price stood at $11.81, marking a 24-hour dip of 11.91 percent. As per WazirX, SOL price in India stood at Rs 1,050.
Top crypto gainers today (November 21)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
UNUS SED LEO (LEO)
24-hour gain: 1.63 percent
USD Coin (USDC)
24-hour gain: 0.03 percent
PAX Gold (PAXG)
24-hour gain: 0.01 percent
24-hour gain: 0.00 percent
Top crypto losers today (November 21)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
24-hour loss: 17.26 percent
24-hour loss: 14.40 percent
24-hour loss: 13.48 percent
NEAR Protocol (NEAR)
24-hour loss: 13.42 percent
24-hour loss: 13.10 percent
What crypto exchanges are saying about the current market scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin continued to trade lower due to intense selling pressure over the weekend. Before the FTX fiasco, BTC traded around the $19,000 level but fell to $15,000 before finding support at $16,000. Even though BTC is down by 4 percent, it managed to stay above $16,000, holding its support position for an impressive nine days. If buyers can push the price of BTC above the overhead trendline, we might see an upward trend.”
Sathvik Vishwanath, CEO and co-founder of Unocoin said, “Bitcoin price is currently consolidating in a wide trading range, from $15,800 to $17,200. As Bitcoin price has fallen below the 23.6 percent Fibonacci level of $17,250, the probability of a downtrend remains high until the next support area of $15,800.On the upside, Bitcoin’s immediate support is at $14,530 and the price could fall as low as $13,850 if the bearish trend continues. As the RSI and 50-day moving average indicate a bearish bias, the price of Bitcoin may fall below $15,830 if the current support does not hold.”
weTrade founder Prashant Kumar offered his take on the market scenario as well, “The global crypto market cap saw a 5 percent loss over the weekend and fell below the $800 billion mark as the FTX crash continued to affect the market. Bitcoin was trading at $16,000 and Ethereum at $1,100 during Asia trading hours on Monday morning. A similar loss was seen in the top 10 cryptocurrencies, with the exception of XRP, which saw some positive movement over the past seven days.”
Shivam Thakral, the CEO of BuyUCoin, said, “The crypto market is witnessing considerable liquidations due to the recent developments around the FTX issue. The sellers are dominating the market currently and investors should expect a steep road to price recovery. The current price drop also allows for increasing crypto holdings as per the risk appetite of individuals. The crypto market cap slipped below the $800 billion mark as crypto assets continue to face selling pressure.”
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.
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