Crypto Price Today: Bitcoin Hovers at $64k; AKT Surges 9%

Crypto Price Today: Bitcoin's price remained relatively stagnant, hovering around $64,000

Crypto Price Today: On April 17, 2024, the cryptocurrency market, led by Bitcoin, continued to grapple with the aftermath of a significant downturn experienced on April 13, 2024. Despite attempts to regain its previous momentum, Bitcoin's price remained relatively stagnant, hovering around $64,000. The cryptocurrency recorded a marginal surge of 1.14% over the past 24 hours, indicating a cautious sentiment among investors.

Technical analysis suggests that Bitcoin currently faces support at $61,600, with resistance noted at $64,887. These levels reflect the ongoing struggle between buyers and sellers in the market, as traders assess the potential for price movement in either direction. BTC remained below the 50-day EMA but maintained its position above the 200-day EMA. These moving averages indicated bearish signals in the short term, yet suggested bullish trends over a longer horizon.

A potential breakout of BTC above the $64,887 resistance level could provide bullish momentum, potentially leading to a test of the 50-day EMA. A successful breach of the 50-day EMA might pave the way for further upward movement toward the $69,000 resistance level.

In the world of cryptocurrency investment vehicles, Grayscale Bitcoin Trust (GBTC) witnessed net outflows of $110.1 million on April 15, down from $166.2 million on April 12. Similarly, iShares Bitcoin Trust (IBIT) experienced a decline in net inflows, dropping from $111.1 million to $73.4 million. Notably, Fidelity Wise Origin Bitcoin Fund (FBTC) and other BTC-spot ETFs reported zero net flows during this period. Of particular significance is the consecutive session of zero net flows observed for FBTC, indicating a lack of investor activity in this segment.

The BTC-spot ETF market as a whole recorded net outflows of $36.7 million on April 15, down from $55.1 million on April 12. This trend may be attributed to a combination of factors, including geopolitical tensions in the Middle East, reduced expectations of a 2024 Federal Reserve rate cut, and anticipation surrounding the upcoming Bitcoin halving event. These geopolitical and macroeconomic factors have likely influenced investor sentiment and contributed to the observed flows within the cryptocurrency market.

Top Gainers of April 17, 2024

Akash Network (AKT): With its price soaring to $3.96, Akash Network has surged by an impressive 8.96% in the past 24 hours. Accompanied by a substantial increase in trading volume, reaching $10,456,643.

Celestia (TIA): Another standout performer, Celestia, has seen its price surge to $10.95, reflecting a gain of 5.89% over the past 24 hours. Boasting a trading volume of $306,311,873, Celestia aims to revolutionize the gaming industry through its decentralized platform for in-game assets and virtual economies.

Maker (MKR): Maker, a leading DeFi protocol, has witnessed its price surge to $3,233.38, marking a gain of 5.61% in the last 24 hours. With a trading volume of $151,962,888, Maker enables users to generate Dai stablecoins through collateralized debt positions, contributing to its growing popularity.

Sui (SUI): Sui has experienced a notable price increase, reaching $1.22, and recording a gain of 5.51% in the last 24 hours. Bolstered by a trading volume of $313,204,575, Sui aims to disrupt the e-commerce industry with decentralized solutions for online shopping and digital payments.

Fantom (FTM): Fantom has surged to $0.6819, marking a gain of 5.12% over the past 24 hours, with a trading volume of $230,316,393. Positioned as a high-performance blockchain platform for DeFi applications and smart contracts, Fantom continues to attract significant market activity.