Crypto Prices on January 13: Bitcoin Below $95K, ETH and XRP Slip Over 1%

January 13, 2025 11:00 AM AEDT | By Team Kalkine Media

Crypto Prices on January 13: Bitcoin Below $95K, ETH and XRP Slip Over 1% — Image source: shutterstock

Bitcoin Price Struggles to Maintain Above $95K

Bitcoin (BTC) saw a slight 0.26% increase on Monday, trading at $94,800.99. However, the price remains trapped within a tight range, hitting a 24-hour low of $93,712 and a high of $95,837. Despite the minor upward movement, Bitcoin's market cap slipped below the $2 trillion mark, now standing at approximately $1.86 trillion.

Market uncertainty has led to a surge in Bitcoin's trading volume, which spiked close to 50%, reaching $26.85 billion. This volume increase highlights heightened market activity, but the increased concerns about the broader economic environment remain apparent. Bitcoin's dominance has increased slightly to 56.93%, reflecting a 0.43% rise over the day, suggesting a relatively stronger performance compared to other cryptocurrencies.

Ethereum and Ripple Face Losses

Ethereum (ETH) and Ripple (XRP) also experienced declines, each shedding over 1% on the day. Ethereum, which had been hovering around key support levels recently, continues to face downward pressure amidst a broader market slowdown. Similarly, Ripple’s (XRP) price has struggled to maintain upward momentum, joining the broader trend of declines within the crypto space.

Despite these losses, both Ethereum and Ripple continue to retain significant market positions, with their futures closely tied to overall market recovery and technical developments.

Growing Investor Unease

The broader cryptocurrency market remains under strain, with speculative factors such as FTX liquidations and potential moves by the US government casting a shadow on market sentiment. These concerns have contributed to a 0.80% drop in the total market capitalization, which now stands at around $3.29 trillion.

On the positive side, the total trading volume across the crypto market increased by 12.84% in the last 24 hours, reaching $80.83 billion. Of this, decentralized finance (DeFi) accounted for $6.19 billion, or 7.66% of the total crypto market volume, showcasing continued activity within the DeFi space.

Bitcoin's price remains under pressure as it stays within a tight range below $95,000, while Ethereum and Ripple follow suit with declines of over 1%. Investor sentiment is increasingly strained by external factors, contributing to the current bearish trend in the market.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.