Bitcoin Remains Stable, Ethereum Slowly Approaches $3,000

Bitcoin (BTC), the oldest and most valued cryptocurrency in the world, remained stable within the $51,000 range early Friday. Ethereum (ETH), on the other hand, is steadily approaching the $3,000 mark over the past few days and appears to be on track at the time of writing. Other top coins, including the likes of — Dogecoin (DOGE), Solana (SOL), Ripple (XRP), and Litecoin (LTC) — saw minor dips across the board. The Axelar (AXL) token emerged as the biggest gainer of the lot, with a 24-hour jump of over 19 percent. Immutable (IMX) became the biggest loser, with a 24-hour dip of over 96 percent. 

The global crypto market cap stood at $1.95 trillion at the time of writing, registering a 24-hour dip of 0.38 percent.

Bitcoin (BTC) Price Today

Bitcoin price stood at $51,212.21, registering a 24-hour dip of 0.72 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 45 lakh.

Ethereum (ETH) Price Today

ETH price stood at $2,958.47 marking a 24-hour gain of 1.09 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 2.60 lakh.

Dogecoin (DOGE) Price Today

DOGE registered a 24-hour loss of 0.02 percent, as per CoinMarketCap data, currently priced at $0.08369. As per WazirX, Dogecoin price in India stood at Rs 7.35.

Litecoin (LTC) Price Today

Litecoin saw a 24-hour dip of 0.07 percent. At the time of writing, it was trading at $68.32. LTC price in India stood at Rs 6,052.05.

Ripple (XRP) Price Today

XRP price stood at $0.5385, seeing a 24-hour loss of 0.78 percent. As per WazirX, Ripple price stood at Rs 47.50.

Solana (SOL) Price Today

Solana price stood at $102.11 marking a 24-hour dip of 1.59 percent. As per WazirX, SOL price in India stood at Rs 9,020.01. 

Top Crypto Gainers Today (February 23)

As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:

Axelar (AXL)

Price: $1.52
24-hour gain: 19.08 percent

WOO (WOO)

Price: $0.4676
24-hour gain: 12.83 percent

Filecoin (FIL)

Price: $8.21
24-hour gain: 11.28 percent

Hedera (HBAR)

Price: $0.1111
24-hour gain: 9.65 percent

Starknet (STRK)

Price: $2.05
24-hour gain: 9.61 percent

Top Crypto Losers Today (February 23)

As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:

Immutable (IMX)

Price: $3.19
24-hour loss: 6.45 percent

Astar (ASTR)

Price: $0.1587
24-hour loss: 4.69 percent

ORDI (ORDI)

Price: $62.13
24-hour loss: 3.87 percent

Internet Computer (ICP)

Price: $12.50
24-hour loss: 3.74 percent

Ronin (RON)

Price: $2.96
24-hour loss: 3.63 percent

What Crypto Exchanges Are Saying About Current Market Scenario

Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin is holding steady around the $51,000 mark amid a rise in profit-taking. Bitcoin has not yet accumulated energy to make a sharp move, so it is anticipated to move laterally within the $50,000 to $52,000 range for some time. Meanwhile, Ethereum is maintaining a neutral stance as neither bullish nor bearish forces have taken control. If Ethereum dips below its current position, the next support level lies at $2,800.”

Parth Chaturvedi, Investments Lead, CoinSwitch Ventures, said, “Even though BTC (-0.6%) is currently showing range-bound price action, on-chain data based on LTH (Long Term Hodler) behaviour suggests that there may finally be a pattern formation that has been historically linked to bull runs. On the other hand, ETH (+0.7%) is still trying to find its footing above $3K. As for altcoins, BNB’s (+1.1%) price climbed to its highest since the FTX crash. This could be attributed to fading concerns around regulatory issues related to Binance, and an upcoming Web3 gaming project’s airdrop farming campaign for BNB holders. Additionally, AI tokens continued to surge on the back of Nvidia’s 4th quarter earnings; RNDR is up 9.3% while WLD (+13.9) hit its record high.”

Rajagopal Menon, Vice President, WazirX, said, “The Bitcoin price sustained a brief downtrend, settling below $51,800 and dipping below $51,200 before a moderate recovery. Despite a partial rebound above $51,500, the further upward movement faced resistance from bears. The prevailing sentiment suggests key obstacles at $51,800 and $52,000, potentially paving the way for an ascent towards the $52,500 resistance zone. BTC’s resilience amidst short-term volatility reinforces a positive market sentiment, creating opportunities for potential buyers to consider acquiring more BTC during any price dips anticipated in the upcoming weeks.”

Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “NVIDIA’s outstanding fourth-quarter earnings, with revenue surging to $60.9 billion, highlight its dominance in AI and data centers, sparking speculation about Bitcoin’s future. This remarkable performance underscores the fusion of tech innovation with the cryptocurrency market. The surge in revenue reflects soaring demand for AI and computing technologies, igniting investor interest in Bitcoin’s potential rally. With resistance levels at $52,875, $54,646, and $56,477, and support at $50,823, $49,227, and $47,707, Bitcoin’s trend appears cautiously bearish. The RSI at 42.76 suggests moderate momentum, while the 50-day EMA could act as dynamic support. While the MACD isn’t visible, its absence limits trend analysis. Overall, NVIDIA’s success hints at transformative shifts in Bitcoin investment strategies, amid growing tech-crypto synergy.”

Shivam Thakral, CEO of BuyUcoin, said, “The Bitcoin price is struggling to rise above $53,000 after making a pull back to $51,000. With only 60 days remaining for the halving, Bitcoin continues to maintain the $50,000 Support but a correction to $48,000 – $49,000 is still on the cards. Interestingly, Bitcoin has made all – time highs against 14 currencies around the world.” 

CoinDCX Research Team told ABP Live, “In the last 24 hours, the crypto market showed a slightly bearish sentiment with the first net outflow from BTC ETF since January 25, 2024, signalling bearishness. Additionally, funding rates were not favourable for bulls. Technically, BTC closed in the red but stayed within its range, with local support around $50,600 and resistance at $52,500. Meanwhile, ETH remained relatively stable, hovering between $2,900 and $3,000, with local support at $2,880 and resistance at $3,030.”

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Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Cryptocurrency is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Cryptocurrency market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.