Crypto price today, February 1st. Check Global Market Cap Bitcoin BTC Ethereum Doge Solana Litecoin Jupiter SATS ABP Live TV

Bitcoin (BTC), the world's oldest and most valuable cryptocurrency, briefly rose above $43,000 before falling below again early Thursday. The Federal Reserve's call to maintain interest rates appears to have provided a sense of price stability. Other top coins, including Ethereum (ETH), Dogecoin (DOGE), Solana (SOL), Ripple (XRP), and Litecoin (LTC), posted minor losses across the board. The SATS token (1000SATS) emerged as the biggest winner of the group with a 24-hour jump of over 5 percent. Jupiter (JUP), on the other hand, became the biggest loser with a 24-hour decline of over 60 percent.

The global cryptocurrency market cap was $1.51 trillion at the time of writing, representing a 24-hour decline of 8.43 percent.

Bitcoin (BTC) price today

According to CoinMarketCap, Bitcoin price was at $42,051.28, down 2.05 percent in 24 hours. According to Indian exchange WazirX, the BTC price was at Rs 37.14 lakh.

Ethereum (ETH) price today

At the time of writing, ETH price was at $2,255.67, representing a 24-hour decline of 3.65 percent. According to WazirX, Ethereum price in India was at Rs 2.01 lakh.

Dogecoin (DOGE) price today

DOGE saw a 24-hour decline of 1.82 percent and is currently at $0.07864, according to CoinMarketCap data. According to WazirX, Dogecoin price in India was at Rs 6.94.

Litecoin (LTC) price today

Litecoin recorded a 24-hour decline of 2.01 percent. At the time of writing, the transaction price was $66.47. The LTC price in India was at Rs 5,828.

Ripple (XRP) price today

XRP price was at $0.4974, a 24-hour loss of 2.59 percent. According to WazirX, Ripple price was at Rs 44.10.

Solana (SOL) price today

Solana price was at $93.90, down 7.24 percent in 24 hours. According to WazirX, SOL price in India was Rs 8,800.09.

Top Crypto Gainers Today (February 1)

According to CoinMarketCap data, here are the five crypto winners from the last 24 hours:

PRICE (1000 PRICE)

Price: $0.0005251
24 hour profit: 5.56 percent

Monero (XMR)

Price: $167.14
24 hour profit: 4.44 percent

ORDI (ORDI)

Price: $61.65
24 hour profit: 1.89 percent

Chiliz (CHZ)

Price: $0.1017
24 hour profit: 1.52 percent

Ronin (RON)

Price: $2.76
24 hour profit: 1.45 percent

Top Crypto Losers Today (February 1)

According to CoinMarketCap data, here are the top five crypto losers in the last 24 hours:

Jupiter (JUP)

Price: $0.6343
24 hour loss: 60.33 percent

Six (SIX)

Price: $0.6222
24 hour loss: 12.87 percent

Manta Network (MANTA)

Price: $2.95
24 hour loss: 12.26 percent

Celestia (TIA)

Price: $15.88
24 hour loss: 8.83 percent

United Nations (UN)

Price: $47.48
24 hour loss: 8.77 percent

What crypto exchanges say about the current market scenario

Edul Patel, co-founder and CEO of Mudrex, told ABP Live: “Following the US Federal Reserve’s decision to maintain interest rates, Bitcoin saw a decline below the $43,000 threshold, fueled by investor expectations of a possible rate cut in March.” Despite a brief increase, Bitcoin was unable to maintain the momentum. Despite the bears' attempts to push the price lower, the bulls defended the area above $42,000. Ethereum is trading in line with Bitcoin and there is a likelihood that it will fluctuate between $2,100 and $2,400 in the near term.”

CoinSwitch Markets Desk noted: “Bitcoin is headed for its third consecutive red day, trading near $42,000 despite the US Federal Reserve leaving interest rates unchanged – just as the market expected. However, following Fed Chairman Jerome Powell's comments yesterday, several major analysts such as Goldman Sachs are now predicting that the Fed will begin cutting rates starting in May this year instead of March, which could be a big reason why the bears are in a shorter period have taken some control over time. However, on larger time frames, the BTC structure remains bullish and current trendline supports remain at $39.3K.”

Rajagopal Menon, Vice President of WazirX, said: “The Federal Reserve’s decision to maintain interest rates has dashed expectations of rate cuts and impacted Bitcoin’s valuation, which may now face resistance at $40,000. Bitcoin’s next hurdle is $40,000 before selling pressure may ease. A surge in demand caused by lower supply through access to BTC ETFs could be the impending catalyst. Currently, Bitcoin is down 2.25% in the last 24 hours to settle at $41,998.72, up 4.79% over the past week. Ethereum is trading at $2,257.09, down 3.59% in 24 hours but up 1.06% over the week. Bitcoin’s technical indicators show a mixed outlook. Moving averages signal a “buy” while the Ichimoku baseline remains neutral. An RSI of 49 suggests neutrality, with the Stochastic %K at 75 and ADX at 16 reflecting neutrality. The MACD at -173 indicates Buy, while the Stochastic RSI and Williams Percentage indicate a Neutral outlook.”

Sathvik Vishwanath, CEO and co-founder of Unocoin, said: “Bitcoin’s recent decline below $43,000 followed a hawkish stance from Federal Reserve Chair Jerome Powell, suggesting that a rate cut in March is unlikely.” This stance led to a repricing of the market and reduced the likelihood of an impending rate cut. However, the general economic environment favors Bitcoin in 2024 with expectations of a possible Fed interest rate cut, which traditionally gives a boost to cryptocurrencies. Despite short-term fluctuations, investor confidence remains strong, supported by several optimistic factors. The emergence of spot Bitcoin ETFs as well as massive demand for new offerings from BlackRock and Fidelity are reducing selling pressure. Additionally, expectations surrounding the Bitcoin halving in April and potentially supportive U.S. political and fiscal dynamics add to the optimistic outlook. “Despite the near-term uncertainty, Bitcoin price action is set for a potential rise to lows of $50,000, outweighing the prospect of a decline to lows of $30,000 in the foreseeable future.”

Shivam Thakral, CEO of BuyUcoin, noted: “The crypto market witnessed another decline due to the Fed’s unchanged interest rates. The bullish momentum, characterized by a decline in Grayscale sales and an increase in BTC ETF offers, eventually led to a downtrend caused by the unchanged interest rate levels, which represent the high levels of 2023. The altcoin market also saw a downturn, which could change unless Ethereum crosses $2500 due to other positive macroeconomic factors.”

The research team at CoinDCX told ABP Live: “In the last 24 hours, the crypto market witnessed a shift from positive to slightly bearish conditions, triggered by the Federal Reserve's decision to keep interest rates unchanged.” BTC is currently in the range Middle, with BTC's increasing dominance leading to declines in most altcoins. ETH reflects a parallel situation and trades within its set range. Additionally, market sentiment is influenced by the regular movement of funds across ETFs, contributing to overall market dynamics.”

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