Bitcoin (BTC) Fails to Rise Above $84,000 Mark, Other Altcoins See Mixed Movements

Bitcoin (BTC), the world’s oldest and most valued crypto, failed to rise above the $84,000 mark

Bitcoin (BTC) price failed to rise above the $84,000 mark early Monday, as the world’s oldest and most valued crypto saw a slight dip over the past 24 hours. Other popular altcoins — including the likes of Ethereum (ETH), Solana (SOL), Ripple (XRP), and Litecoin (LTC) — saw a mix of minor dips and gains across the board as overall Market Fear & Greed Index stood at 22 (Fear) out of 100, as per CoinMarketCap data. The BinaryX (BNX) token emerged as the biggest gainer, with a 24-hour jump of nearly 54 percent. Movement (MOVE) token, on the other hand, became the biggest loser, with a 24-hour loss of 7 percent.

The global crypto market cap stood at $2.72 trillion at the time of writing, registering a 24-hour dip of 1.29 percent.

Bitcoin (BTC) Price Today

Bitcoin price stood at $83,292.35, registering a 24-hour loss of 1.32 percent, as per CoinMarketCap. According to Indian exchanges, BTC price stood at Rs 72.37 lakh.

Bitcoin price on Monday morning traded in a tight range as it came closer to the resistance zone near the $85,000 mark, Alankar Saxena, CTO and co-founder, Mudrex explained.

"We observed that BTC is now testing the lower levels of the crucial support zone ranging from $80,000 to $81,200. A breach below this support could further decrease the price towards the March lows of $76,642," Saxena added.

According to CoinSwitch, Bitcoin traded in a tight range over the weekend, fluctuating between $82,000 and just above $84,000, and is currently hovering around mid-$83K. The 200-day simple moving average at $84,000 remains a key resistance level, while immediate support stands at $80,000. Over the past week, Bitcoin has seen a 1.6 percent rise.

U.S. Bitcoin Spot ETFs also saw another week of heavy net outflows, with investors pulling out over $900 million, highlighting a shift in institutional sentiment towards other crypto assets.

"The crypto market is heating up as we approach the crucial Federal Reserve's interest rate decision, which could have a significant impact on the market's trajectory," said Avinash Shekhar, Co-founder & CEO, Pi42.

"Bitcoin, the world's leading cryptocurrency, is currently trading at a price of $83,242, showing a slight decrease of 1.32 percent over the past 24 hours. As Bitcoin continues to move in a limited trading range, it is approaching the crucial resistance level of $85,000. If this resistance is breached, we could see a swift rally towards the $90,000 mark," he added.

As the market adjusts to new realities, the famous Crypto Fear and Greed Index has dropped to 22, reaching the "Extreme Fear' stage. This shift in sentiment comes after a correction from $100K to $77K made investors cautious, but the optimism is that it can be a fleeting correction and not a long-term slide.

The market will be closely following the macroeconomic trends, especially the U.S. Federal Reserve's interest rate decision, which is expected to influence the overall market sentiment and direction.

The global crypto market cap stood at $2.72 trillion at the time of writing, registering a 24-hour dip of 1.29 percent.

Here are the prices of some major cryptocurrencies (data from CoinMarketCap):

Cryptocurrency Price 24-hour low

Bitcoin $83,292.35 $81,242

Ethereum $1,899.66 $1,860

Dogecoin $0.1726 $0.169

Litecoin $93.08 $92.43

Ripple $2.34 $2.30

Solana $128.41 $127.01

Cryptocurrency prices in India (as per Indian exchanges)

Bitcoin price in India stood at Rs 72.37 lakh on Monday morning, while Ethereum price in India stood at Rs 1.65 lakh. Dogecoin price in India stood at Rs 14.94.

The price of Litecoin was at Rs 8,079.9