As of April 22, the cryptocurrency market cap reached $2.75 trillion, with Bitcoin rising above $88,000 and Kaspa emerging as the top gainer. Bitcoin’s price is noted at $88,098.21, while Ethereum and other altcoins exhibited mixed performance. Market analysts observe bullish trends for Bitcoin, driven by liquidity and institutional interest, despite challenges facing Ethereum and other cryptocurrencies.
On April 22, the cryptocurrency market saw a global market cap increase to $2.75 trillion. Bitcoin (BTC) surpassed the $88,000 threshold, while several major altcoins also recorded gains. Notably, Kaspa (KAS) emerged as the top gainer, with a remarkable 14% increase in the last 24 hours. Conversely, Aptos (APT) remained the biggest loser for the fourth day in a row, suffering a 5% decline.
Bitcoin (BTC) was valued at $88,098.21, reflecting a 0.81% rise over the previous 24 hours, with Indian exchanges quoting it at ₹73.34 lakh. In comparison, Ethereum (ETH) dipped by 3.80% to $1,577.81, equivalent to ₹1.38 lakh. Other cryptocurrencies such as Dogecoin (DOGE), Litecoin (LTC), and Ripple (XRP) also experienced minor losses, while Solana (SOL) decreased by 1.43% to $138.92.
Today’s top gainers included:
1. Kaspa (KAS) – Price: $0.08963, 24-hour gain: 13.85%
2. Fartcoin (FARTCOIN) – Price: $1.00, 24-hour gain: 11.35%
3. Kaia (KAIA) – Price: $0.1132, 24-hour gain: 9.00%
4. Stacks (STX) – Price: $0.7524, 24-hour gain: 8.02%
5. POL (POL) – Price: $0.2043, 24-hour gain: 6.14%
On the other hand, the top five losers included:
1. Aptos (APT) – Price: $4.85, 24-hour loss: 5.25%
2. Theta Network (THETA) – Price: $0.6256, 24-hour loss: 5.11%
3. DeXe (DEXE) – Price: $14.56, 24-hour loss: 4.97%
4. JasmyCoin (JASMY) – Price: $0.01422, 24-hour loss: 4.37%
5. Ethereum Classic (ETC) – Price: $15.48, 24-hour loss: 4.34%
Edul Patel, CEO of Mudrex, indicated that Bitcoin’s bullish trend was supported by increased global liquidity and institutional interest. The influx of over $300 million into BTC spot ETFs and significant holdings by Strategy showcases growing market optimism. If this trend continues, a price surge towards the $93,000 resistance level appears plausible.
Additionally, analysts from CoinSwitch noted Bitcoin trading above key moving averages, coinciding with a historic high in gold prices, indicative of a shift towards safe-haven assets amid economic uncertainties.
Avinash Shekhar of Pi42 stated that Bitcoin is gaining traction near the $90,000 mark due to positive trader sentiment, whilst recommending caution regarding Ethereum’s ongoing challenges. Sathvik Vishwanath from Unocoin emphasised the potential for Bitcoin to retest its all-time high amid a generally optimistic market outlook.
