Bitcoin (BTC) and Ethereum (ETH), two of the most popular cryptocurrencies, fell below $27,000 and $1,800 on Friday. The recent decline is largely due to the US debt ceiling debate. Other popular altcoins including Dogecoin (DOGE), Ripple (XRP), Litecoin (LTC) and Solana (SOL) all fell. Mask Network (MASK) gained the most, up more than 5 percent in 24 hours. Lido DAO (LDO) was the biggest loser, losing more than 8 percent in 24 hours.
At the time of writing, the value of the global cryptocurrency market fell 1.46 percent to $1.12 trillion in 24 hours.
Bitcoin (BTC) price today
Bitcoin was trading at $26,832.03, down 1.78 percent in the 24-hour period, according to CoinMarketCap. According to Indian exchange WazirX, the price of BTC was 23.25 lakh.
Ethereum (ETH) price today
ETH is trading at $1,799.29 at the time of writing, down 1.27 percent in the 24-hour period. According to WazirX, the price of Ethereum in India was Rs 1.56 lakh.
Dogecoin (DOGE) price today
DOGE traded down 1.11 percent to $0.07363 in the 24-hour period, according to data from CoinMarketCap. According to WazirX, Dogecoin price in India was Rs 6.47.
Litecoin (LTC) price today
Litecoin is down 1.34 percent in 24 hours. At the time of this writing, the transaction value was $92.34. LTC price in India was Rs.8100.
Ripple Price (XRP) Today
XRP price rose 4.50 percent to $0.4674 in 24 hours. According to WazirX, Ripple was priced at Rs 40.75.
Solana (SOL) price today
Solana was at $20.33 and down 3.10 percent in 24 hours. According to WazirX, SOL was priced at INR 1,800.10.
Top Cryptocurrency Lovers Today (May 19)
According to CoinMarketCap, here are five cryptocurrency gainers in the last 24 hours:
Mask Network (masker)
Price: $4.61 in 24 hours Loss: 5.14 percent
Ripple (XRP)
Price: $ 0.4657 . 24-hour loss: 4.07 percent
Processing Token (RNDR)
Price: $2.37 in 24 hours Loss: 2.83 percent
Nexus (Nexus)
Price: $ 0.691 . Loss in 24 hours: 1.22 percent
Twin Dollar (GUSD)
Price: $ 0.9894 . 24-hour loss: 0.25 percent
Top Crypto Losers Today (May 19)
According to CoinMarketCap, these are the five countries that lost the most cryptocurrency in the last 24 hours:
Lido DAO (LDO)
Price: $ 2.13 . Loss in 24 hours: 8.46 percent
Optimism (OP)
Price: $ 1.70 Loss in 24 hours: 6.50 percent
Infinity Axis (AXS)
Price: $ 6.98 Loss in 24 hours: 5.65 percent
Ghost (FTM)
Price: $ 0.3674 . Loss in 24 hours: 5.22 percent
needle (SUI)
Price: $ 1.14 . Loss in 24 hours: 4.85 percent
What do cryptocurrencies say about current market conditions?
Edul Patel, founder and CEO of Mudrex, told ABP Live: “Bitcoin price has fallen to $26,700 from a recent high of $27,400. CAP AND REGULATORY DEVELOPMENT. Over the past three days, Bitcoin has been trending lower, resulting in a monthly loss of 8 percent. Despite this recent drop, it's worth noting that Bitcoin is still up 61 percent since the start of last year, underscoring its potential for long-term growth and resilience. Similarly, the second-largest cryptocurrency, Ethereum, is down more than 1 percent in the past 24 hours, roughly matching Bitcoin's performance. Ethereum is trending lower, with three monthly price drops of 5 percent in the last five days and an overall drop of 62 percent.
Rajagopal Menon, vice president of WazirX, said: "As market uncertainty affects the price of Bitcoin and Ether, traders are optimistic as more detailed cryptocurrency regulations come into force in the region." Highest earnings in last 24 hours."
Satvik Vishwanath, CEO and Founder of Unocoin: “Bitcoin struggled to break above $27,500 and dropped to $26,500. A bearish candlestick pattern has been seen for four hours, indicating that sellers are dominant. Technical indicators like RSI and MACD are pointing towards downtrend resistance levels at $27,100 and possibly $27,490. Monitoring the $26,500 level is critical for future price action.”
Shivam Thakral, CEO of BuyUCoin, said: “Crypto markets are feeling the heat from concerns over US regulation and the debt ceiling debate. Cryptocurrencies like BTC and ETH are in the red at the time of writing and their value is falling. 1.89"
CoinDCX research group told ABP Live: “Due to concerns about regulation and the US debt ceiling, the expiration of BTC options on Friday is important for the value of Bitcoin. Bears in the Bitcoin market may take advantage of this uncertain climate. The outcome of Bitcoin's expiration will determine the short-term trajectory." There is a potential impact on the price. Meanwhile, the difficulty of Bitcoin mining has risen to a record level, the hash rate has increased to 350 TH/s. This signals the strengthening of the security and stability of the Bitcoin network, even Miners use their computing power to help confirm transactions and support the decentralized nature of the blockchain.
Note: Crypto products and NFTs are not regulated and can be very dangerous. There may be no regulatory remedy for losses resulting from such transactions. Cryptocurrencies are not legal tender and are subject to market risk. Readers are advised to seek professional advice before investing and to carefully read the documentation and relevant literature offered on the subject. Cryptocurrency market forecasts are speculative and any investment made is at the reader's own risk.