Bitcoin Crosses $50,000 For The First Time Since December 2021

Spread the love


Bitcoin (BTC), the oldest and most valued cryptocurrency in the world, climbed above the $50,000 mark early Tuesday, for the first time since December 2021, before climbing down to $49,750 at the time of writing. Several factors, including the likes of ETF inflows, upcoming Halving event, and a healthy US stock market, have led to BTC’s much-needed rally. Other top coins, including the likes of — Ethereum (ETH), Dogecoin (DOGE), Solana (SOL), Ripple (XRP), and Litecoin (LTC) — landed in the greens across the board. The BEAM token emerged to be the biggest gainer of the lot, with a 24-hour jump of over 13 percent. FLARE, on the other hand, became the biggest loser, with a 24-hour dip of over 2 percent. 

The global crypto market cap stood at $1.87 trillion at the time of writing, registering a 24-hour gain of 3.52 percent.

Bitcoin (BTC) Price Today

Bitcoin price stood at $49,785.67, registering a 24-hour jump of 3.30 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 42.88 lakh.

Ethereum (ETH) Price Today

ETH price stood at $2,639.92, marking a 24-hour gain of 5.54 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 2.27 lakh.

Dogecoin (DOGE) Price Today

DOGE registered a 24-hour jump of 1.68 percent, as per CoinMarketCap data, currently priced at $0.08179. As per WazirX, Dogecoin price in India stood at Rs 7.11.

Litecoin (LTC) Price Today

Litecoin saw a 24-hour gain of 1 percent. At the time of writing, it was trading at $71.95. LTC price in India stood at Rs 6,194.58.

Ripple (XRP) Price Today

XRP price stood at $0.5286, seeing a 24-hour gain of 0.91 percent. As per WazirX, Ripple price stood at Rs 45.88.

Solana (SOL) Price Today

Solana price stood at $113.15, marking a 24-hour jump of 6.17 percent. As per WazirX, SOL price in India stood at Rs 9,650. 

Top Crypto Gainers Today (February 13)

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

Beam (BEAM)

Price: $0.02928
24-hour gain: 13.33 percent

ORDI (ORDI)

Price: $69.95
24-hour gain: 12.49 percent

Helium (HNT)

Price: $8.83
24-hour gain: 9.67 percent

Sei (SEI)

Price: $20.7338
24-hour gain: 8.99 percent

Gnosis (GNO)

Price: $275.72
24-hour gain: 8.24 percent

Top Crypto Losers Today (February 13)

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

Flare (FLR)

Price: $0.0327
24-hour loss: 2.40 percent

Immutable (IMX)

Price: $2.93
24-hour loss: 2.13 percent

Kaspa (KAS)

Price: $0.1403
24-hour loss: 1.18 percent

Axie Infinity (AXS)

Price: $7.69
24-hour loss: 0.63 percent

UNUS SED LEO (LEO)

Price: $4.09
24-hour loss: 0.20 percent

What Crypto Exchanges Are Saying About Current Market Scenario

Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin crosses the $50,000 threshold, marking its first break since 2021. The surge is attributed to the strong showing of the US stock market, substantial investments in spot Bitcoin ETFs, and an impending halving event. The next resistance for Bitcoin is at the $50,250 level, suggesting the potential for a continued climb beyond $51,200. Positive investor sentiment is reflected in active bullish activity in the market. At the same time, Ethereum sustains a position above $2,600, with bullish investors aiming for the $2,717 threshold.”

CoinSwitch Markets Desk noted, “After a long wait of more than 2 years, BTC finally hit the prestigious figure of $50k once again yesterday as the total crypto market cap inches towards the 2 trillion dollar mark. Incidentally, BTC has printed 8 consecutive green candles, a fit previously achieved in July 2021 which led us to the last all-time high at $69k. With the market picking up pace, the world’s second biggest crypto by market cap, Ethereum (+6%) and its top layer-2 solutions, OP (+8.3%) and ARB (+7.5%) have also started to show strength to move towards another local high if the momentum in BTC is sustained with just two months to go in the most sought after event in the crypto ecosystem — the BTC halving.”

Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “Bitcoin’s rise above $50,000 is causing losses for bears, supported by its strongest weekly close since December 2021. Bitcoin is trading more than 3% higher, having gained 13.5% last week, marking its biggest weekly gain since October. Bears expecting a deeper pullback after bitcoin’s plunge below $40,000 last month are thwarted by the nearly 30% recovery since late January. Spot bitcoin ETFs saw net inflows of $1.1 billion last week, surpassing $10 billion in assets under management. Macro tailwinds from US stock markets reaching record highs and Fed rate cut expectations further boost Bitcoin. While bearish concerns persist due to an overbought RSI and nearing market highs, bullish resistance around $52,000 with aggressive buying is likely to persist, spelling more woes for Bitcoin bears.”

CoinDCX Research Team told ABP Live, “In the last 24 hours, BTC reached a significant milestone, breaking the $50,000 mark and hitting its highest level of the year. This led to a widespread increase in altcoins, contributing to the overall crypto market cap nearing $2 trillion. From a technical perspective, both BTC and ETH are showing bullish momentum. BTC has its sights set on $51,800, while ETH aims for $2,700. Traders should pay attention to the US CPI announcement today, as it has the potential to impact market volatility. Being cautious in response to such events is advisable.”

Subscribe And Follow ABP Live On Telegram: t.me/officialabplive

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.



Source link

Please follow and like us:

Leave a Reply

Your email address will not be published. Required fields are marked *