On January 27, bears took control of the cryptocurrency market, as investors showed caution ahead of the Federal Open Market Committee meeting scheduled for January 29.
The global cryptocurrency market capitalization collapsed by more than 5% to $3.43 trillion.
Bitcoin (BTC) and major altcoins like Ethereum (ETH), Ripple (XRP), and Solana (SOL) saw significant losses, while memecoins like Dogecoin (DOGE) and Shiba Inu (SHIB) also faced declines.
The cryptocurrency market witnessed a significant increase in trading volume over the past 24 hours, reaching $111 billion, representing a rise of 36.16%.
Bitcoin (BTC) price today
The price of Bitcoin (BTC) took a hit, falling over 4% in the past 24 hours, trading at $99,984.86.
Its price reached a low of $99,984.86 and a high of $105,227.30 during the day.
The currency’s trading volume has increased by 66% in the past 24 hours to reach $36 billion.
Bitcoin’s market dominance rose to 58.02%, up 0.42% from the previous day.
The market witnessed $57 million worth of Bitcoin liquidations. Analyst Ali Martinez remains bullish, setting a $122,000 price target for the leading cryptocurrency.
Ethereum (ETH) price today
Ethereum (ETH) also took a 5% loss, trading at $3,172. Its 24-hour low and high were $3,161.93 and $3,359.31, respectively.
Ethereum’s price decline reflects broader market trends, and the asset saw $30 million worth of liquidations.
However, it recorded $139.32 million in weekly net inflows into Ethereum ETFs as of January 24.
XRP and SOL price today
Today, the price of XRP fell below $3.
The price of XRP fell by about 6% to $2.94.
It recorded an intraday low of $2.94 and a high of $3.14.
The ongoing legal battle with the US Securities and Exchange Commission and market volatility could be contributing factors to the price movement.
Solana (SOL) saw one of the biggest declines among the top altcoins, falling 10% to $233.18.
Its 24-hour low and high were $230.15 and $259.57, respectively.
SOL also recorded over $10 million in liquidations, following the broader trend of market uncertainty.
Mimi coins continue to decline
Meme cryptocurrencies also followed the downward trend. Dogecoin (DOGE) fell by about 9%, trading at $0.3232, while Shiba Inu (SHIB) fell by 8%, trading at $0.00001837.
Other cryptocurrencies such as PEPE and TRUMP saw significant losses, with PEPE falling 14% and TRUMP losing nearly 16%, trading at $0.00001301 and $26.60, respectively.
Top gainers and losers in crypto
Among the biggest crypto gainers today, Jupiter (JUP) rose 7%, to $0.9743, while AIOZ Network (AIOZ) rose 6%, trading at $0.8215.
On the other hand, Fartcoin (FARTCOIN) suffered a massive 25% decline, falling to $1.01. Virtuals Protocol (VIRTUAL) was down 17% at $2.06, and HyperLiquid (HYPE) was down 15% at $20.67.
Wider crypto price action
Polkadot (DOT) is currently trading at $5.86, showing a decline of 7.56% over the past 24 hours.
Ondo (ONDO) is currently trading at $1.30, showing a decline of 10.21% over the past 24 hours.
PAX Gold (PAXG) price is down 0.61% in the last 24 hours and is currently trading at $2,750.30.
OKB (OKB) is currently trading at $51.75, showing a decline of -6.15% over the past 24 hours.
PancakeSwap (CAKE) stock is down 9.74% over the past 24 hours, currently trading at $1.91.
Qtum (QTUM) stock is down 7.39% over the past 24 hours, currently trading at $2.77.
Osmosis (OSMO) is down 7.20% over the past 24 hours, and is currently trading at $0.3861.
Raydium (RAY) is currently trading at $6.80, showing a decline of 12.81% over the past 24 hours.
The Optimism Index (OP) is currently trading at $1.42, showing a 14.49% increase over the past 24 hours.
Ravencoin (RVN) is down 5.30% over the past 24 hours, and is currently trading at $0.01782.
Quant (QNT) is currently trading at $102.25, showing a decline of 4.48% over the past 24 hours.
Pyth Network (PYTH) is currently trading at $0.2894, showing a decline of 9.05% over the past 24 hours.
Polygon (MATIC) is currently trading at $0.4164, showing a decline of 5.12% over the past 24 hours.
Pendle (PENDLE) is currently trading at $3.45, showing an increase of 8.97% over the past 24 hours.
Ontology (ONT) stock is down 6.75% over the past 24 hours, currently trading at $0.2135.
Powerledger (POWR) is up 8.97% in the past 24 hours, and is currently trading at $0.2525.
Pundi
Orbs (ORBS) price is down 6.42% in the last 24 hours and is currently trading at $0.02601.
Orchid (OXT) stock is down 3.91% over the past 24 hours, currently trading at $0.103.
The Buck Dollar (USDP) is currently trading at $0.9997, registering a 0.02% increase over the past 24 hours.
QuarkChain (QKC) is currently trading at $0.0104, registering a 1.34% decline over the past 24 hours.
Origin Protocol (OGN) is currently trading at $0.09141, marking a 6.95% decline over the past 24 hours.
OMG Network (OMG) is currently trading at $0.2996, recording a decline of 8.94% over the past 24 hours.
Peercoin (PPC) is currently trading at $0.4502, registering a 6.55% decline over the past 24 hours.
Standard (STND) is currently trading at $0.009845, marking a -3.38% decline over the past 24 hours.
RED TOKEN (RED) is currently trading at $0.051533, marking a -0.34% decline over the past 24 hours.
PotCoin (POT) is currently trading at $0.003066, registering a 5.48% increase over the past 24 hours.
ReddCoin (RDD) is currently trading at $0.00006097, marking a 0.03% decline over the past 24 hours.
Next article Cryptocurrency market crash on January 27: BTC below $100,000, XRP below $3 appeared first on Invezz
