Bitcoin Dips Below $83,000, PI Remains Biggest Loser
Bitcoin (BTC), the world’s oldest and most valued crypto, dipped below the $83,000 mark early Wednesday. Other popular altcoins — including the likes of Ethereum (ETH), Solana (SOL), Ripple (XRP), and Litecoin (LTC) — saw a mix of minor gains and dips across the board as overall Market Fear & Greed Index stood at 23 (Fear) out of 100, as per CoinMarketCap data. The EOS token became the biggest gainer, with a 24-hour jump of nearly 33 percent. PI remained the biggest loser for the second consecutive day, with a 24-hour loss of nearly 7 percent.
The global crypto market cap stood at $2.72 trillion at the time of writing, registering a 24-hour jump of 0.35 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $82,894.92, registering a 24-hour loss of 0.34 percent, as per CoinMarketCap. According to Indian exchanges, BTC price stood at Rs 72.37 lakh.
Ethereum (ETH) Price Today
ETH price stood at $1,935.20, marking a 24-hour jump of 1.50 percent at the time of writing. Ethereum price in India stood at Rs 1.65 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour loss of 0.03 percent, as per CoinMarketCap data, currently priced at $0.1682. Dogecoin price in India stood at Rs 14.94.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour jump of 0.10 percent. At the time of writing, it was trading at $90.25. LTC price in India stood at Rs 8,079.98.
Ripple (XRP) Price Today
XRP price stood at $2.28, seeing a 24-hour loss of 0.12 percent. Ripple price in India stood at Rs 203.47.
Solana (SOL) Price Today
Solana price stood at $125.89, marking a 24-hour dip of 0.96 percent. SOL price in India stood at Rs 11,201.80.
Top Crypto Gainers Today (March 19)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
EOS (EOS)
Price: $0.6484
24-hour gain: 32.12 percent
Raydium (RAY)
Price: $1.94
24-hour gain: 16.02 percent
Kava (KAVA)
Price: $0.5251
24-hour gain: 8.65 percent
Maker (MKR)
Price: $1,291.93
24-hour gain: 8.21 percent
DeXe (DEXE)
Price: $18.25
24-hour gain: 8.06 percent
Top Crypto Losers Today (March 19)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
Pi (PI)
Price: $1.16
24-hour loss: 6.96 percent
Cronos (CRO)
Price: $0.07773
24-hour loss: 5.18 percent
Berachain (BERA)
Price: $5.96
24-hour loss: 5.17 percent
PancakeSwap (CAKE)
Price: $2.39
24-hour loss: 3.05 percent
Mantle (MNT)
Price: $0.8018
24-hour loss: 2.80 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Alankar Saxena, CTO and co-founder, Mudrex told ABP Live, “Bitcoin continues to trade around $83,000, showing early signs of accumulation, according to Glassnode data. Historically, shifting from a distribution phase to accumulation is an indication of recovery, suggesting investors are returning at these lower levels. Another sign of a trend reversal is the renewed demand from spot Bitcoin ETFs with $274 million in inflows seen on Monday—the highest in six weeks. A key catalyst for Bitcoin’s breakout above $85,000 could be any update from the Fed on quantitative tightening, which may further boost investor confidence.”
CoinSwitch Markets Desk noted, “Bitcoin failed another attempt to break above the $85,000 resistance level, shedding 0.7% in the past 24 hours. The price dropped to a low of $81,207 before recovering just over $83,000. BTC remains below its 50-day Exponential Moving Average (EMA), while the RSI indicates neutral momentum. Meanwhile, Tokyo Stock Exchange-listed company Metaplanet Inc. has acquired an additional 150 BTC as part of its Bitcoin Treasury strategy, bringing its total holdings to 3,200 BTC.”
Shivam Thakral, CEO of BuyUcoin, said, “Over the past 24 hours, markets have maintained a cautious yet optimistic tone as the Federal Reserve commenced its two-day policy meeting, with results expected later today during U.S. trading hours. While no rate cuts are anticipated, investors are keenly focused on whether the Fed will adopt a more dovish stance in light of recent economic uncertainties and market volatility. The central bank’s updated dot plot and commentary will be closely analyzed for future monetary policy direction signals.”
Avinash Shekhar, Co-Founder & CEO, Pi42, said, “The crypto market is in a precarious balance with Bitcoin and Ethereum trading flat, and Dogecoin set for a crucial multi-year trendline test. Ethereum’s rally inspires divided opinions with some referring to it as the ‘most hated’ rally. On the other hand, XRP futures reflect bearish pressure in spite of good gains for long-term investors.The declining UTXO P&L ratio of Bitcoin to 50.2% suggests a phase of correction. Geopolitical events like the Trump-Putin call on Ukraine add more market uncertainty. High whale accumulation suggests that wise money is still involved based on strategic orientation. Traders will have to negotiate changing sentiment and technical trends as volatility continues, always on lookout for breakout possibilities or more significant corrections.”
Sathvik Vishwanath, CEO and co-founder, Unocoin, said, “Bitcoin’s price struggled to break $85,000 resistance on March 17, forming daily highs between $84,000 and $85,200. BTC remains in “no man’s land” on lower time frames, with volatility expected around the FOMC meeting on March 18-19. With a 99% chance of unchanged interest rates, markets focus on Powell’s speech. Bitcoin must flip $85,000 into support for $90,000 targets, regaining the 200-day EMA. Bitcoin ETFs saw $274M inflows on March 17, supporting bulls. Bears aim for sub-$78,000 levels, with key support at $74,000, $71,300, and $66,810. BTC must reclaim $86,250 to confirm bullish momentum.”
The CoinDCX Research Team noted, “The bears continue to have a strong hold over the crypto markets as tokens face a notable drop from their consolidated range. While altcoins like XRP, LTC, ETH, UNI, etc., and a few more display strength, BTC, ADA, SOL, and SHIB display the possibility of a bearish pullback. Meanwhile, the global crypto market cap remains within the gained levels as the market sentiments slowly rise from extreme fear to fear. However, Bitcoin continues to hold a larger dominance than altcoins, as nearly 60% of liquidity flows into the star token.”
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