Cryptocurrency News Live: Ethereum, Bitcoin Lose Steam

Cryptocurrency Price Today: Bitcoin, Ethereum Remain Strong Despite Minor Dips; Chiliz Becomes Top Gainer

Bitcoin (BTC), the oldest and most valued cryptocurrency in the world, remained above the $20,000 mark over the weekend. Ethereum (ETH), too, managed to hold on to its bullish streak, inching closer to the $1,600 mark. Other popular altcoins — including the likes of Dogecoin (DOGE), Ripple (XRP), and Solana (SOL) landed in the reds early Monday morning. The Chiliz (CHZ) token became the top gainer over the last 24 hours, while Klaytn (KLAY) became the biggest loser after nearly a week of bull run. 

At the time of writing, the global crypto market cap stood at $1.01 trillion, registering a dip of 1.29 per cent in the last 24 hours, as per CoinMarketCap data.  

Bitcoin (BTC) price today

Bitcoin price stood at $20,525.24, seeing a 24-hour dip of 1.18 per cent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 17.62 lakhs.

Ethereum (ETH) price today

ETH price stood at $1,584.97, marking a 24-hour loss of 2.18 per cent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.37 lakhs.

Dogecoin (DOGE) price today

DOGE registered a 24-hour loss of 8.82 percent as per CoinMarketCap data, currently priced at $0.1215. As per WazirX, Dogecoin price in India stood at Rs 10.51.

Litecoin (LTC) price today

Litecoin saw a 24-hour dip of 2.05 percent. At the time of writing, it was trading at $55.44. LTC price in India stood at Rs 4,800.

Ripple (XRP) price today

XRP price stood at $0.4569, seeing a 24-hour loss of 2.24 percent. As per WazirX, Ripple price stood at Rs 39.04.

Solana (SOL) price today

Solana price stood at $33, marking a 24-hour jump of 0.37 percent. As per WazirX, SOL price in India stood at Rs 2,750.99.

Top crypto gainers today (October 31)

As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:

Chiliz (CHZ)

Price: $0.2301
24-hour gain: 16.47 per cent

The Sandbox (SAND)

Price: $0.8936
24-hour gain: 9.96 per cent

Algorand (ALGO)

Price: $0.3671
24-hour gain: 7.77 per cent

Fantom (FTM)

Price: $0.2403
24-hour gain: 6.11 per cent

Elrond (EGLD)

Price: $59.79
24-hour gain: 5.13 per cent

Top crypto losers today (October 31)

As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:

Klaytn (KLAY)

Price: $0.277
24-hour loss: 8.17 per cent

Lido DAO (LDO)

Price: $1.53
24-hour loss: 8.17 per cent

Shiba Inu (SHIB)

Price: $0.00001211
24-hour loss: 7.64 per cent

Holo (HOT)

Price: $0.002084
24-hour loss: 7.57 per cent

Uniswap (UNI)

Price: $6.85
24-hour loss: 6.06 per cent

What crypto exchanges are saying about the current market scenario

Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin continues to trade below the $21,000 level over the past 24 hours. BTC is consolidated under the resistance of $21,000. If BTC can trade sideways this week, bulls may lose further and drop to the nearest support line. If demand grows slightly today, we might soon see BTC retesting the $21,000 level. If bulls lose momentum, BTC might go down to $20,300 and then to $19,600.”

Sathvik Vishwanath, the co-founder and CEO of Unocoin, said, “Markets are rising in anticipation of a global economic slowdown that will prompt the Fed to potentially ease its hawkish stance. Markets still expect a 75 bps hike at the upcoming FOMC meeting, however, the odds of a 50 bps hike have increased slightly. The US Fed is due to announce its interest rate revisions on November 2. Dogecoin (DOGE) saw the most significant movement. As the announcement of Elon Musk’s acquisition of Twitter hit the headlines, the meme coin rallied around 40 percent over the past week.”

weTrade founder Prashant Kumar offered his take on the market scenario as well, “Diwali bonanza seems to continue for crypto investors as the global market cap saw an approximately 5 per cent rise over the past 24 hours. Bitcoin rallied and broke the $20,000 mark for the first time in three weeks. Ethereum also saw big gains of approximately 10.5 per cent, taking it closer to $1,500. Positive momentum around the appointment of UK prime minister Rishi Sunak and global markets also helped the market.”

Shivam Thakral, the CEO of BuyUCoin, said, “Investors who were betting on the price rise of Bitcoin, liquidated their positions which resulted in a short squeeze, creating bullish sentiment around the world’s largest cryptocurrency. The overall crypto market cap is above the $1 trillion mark, mainly driven by the growth momentum of crypto heavyweights like Bitcoin and Ethereum. Elon Musk’s Twitter deal is shaking the meme coin space with significant price movements of SHIB and DOGE. The next US Fed meeting is lined up for November and any rate hike will have a considerable impact on the market in the coming months. UK’s CPI data is also expected next month and will have a considerable impact on the prices of crypto assets across the board.”

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.