Crypto prices on Jan 23: BTC sinks below $102K, MELANIA crashes 18%

The cryptocurrency market continues to experience volatility, with Bitcoin (BTC) dropping below $102K on Thursday.

Other major cryptocurrencies, including Ethereum (ETH), XRP, and Solana (SOL), also saw declines in the 1%-3% range.

Meme coins such as Dogecoin (DOGE), Shiba Inu (SHIB), and Official Trump (TRUMP) also witnessed losses, in line with the broader market trend.

As a result, the global cryptocurrency market cap decreased by nearly 3%, now standing at $3.52 trillion.

The total crypto market volume over the last 24 hours is $146.64 billion, showing a 25.38% decrease. The volume of all stablecoins is now at $134.32 billion, accounting for 91.60% of the total market volume.

Bitcoin price today

Bitcoin (BTC) saw a drop of over 3%, trading at $101,971.94. The coin’s low for the day was $101,525.83, and the high reached $105,908.98.

This movement coincides with $95.62 million in Bitcoin ETF outflows as of January 22.

Bitcoin’s dominance stands at 57.43%, reflecting a slight decrease of 0.06% compared to the previous day.

There has been speculation around the price action, with some suggesting that the price pullback could be a result of “sell the news” sentiment following Donald Trump’s inauguration.

Despite this, data from Santiment indicates that over 1,000 BTC were accumulated during the market’s recent turbulence, suggesting possible future upward movement.

BlackRock Chairman and CEO Larry Fink also express his bullish view on Bitcoin at the World Economic Forum in Davos.

Fink suggested that Bitcoin’s price could reach as high as $700,000.

ETH price today

Ethereum (ETH) also saw a decline, falling over 3% to $3,203.52, with the intraday range between $3,184.07 and $3,329.24.

There was also $8.46 million in outflows from Ethereum ETFs as of January 22.

Trading volume for the coin was down over 21% to $22.44 billion.

XRP and SOL price today

XRP, although down by nearly 1%, maintained a resilient position at $3.12, within a range of $3.11 and $3.27.

While the market sentiment is more cautious, there remains some optimism regarding XRP’s future performance, with some analysts suggesting a potential breakout to $5.

Solana (SOL) experienced a decline of over 3.20%, trading at $248.44, with the low for the day at $245.40 and the high at $271.53.

The trading volume for Solana has dropped by over 3%, although there is some optimism surrounding the network, especially after Coinbase CEO Brian Armstrong’s announcement of plans to offer “tier 1 support” to Solana.

Memecoins have a rough day

Meme coins followed the general market downturn.

Dogecoin (DOGE) fell over 5%, reaching $$0.3503, while Shiba Inu (SHIB) dropped 3% to $0.00001994.

Bitwise Asset Management has filed for a Dogecoin (DOGE) exchange-traded fund (ETF).

The company has registered “BITWISE DOGECOIN ETF” as a legal entity with Delaware’s Department of State’s Division of Corporations

The TRUMP token crashed a massive 12%, trading at $37.23.

Top gainers and losers in the crypto market

Pudgy Penguins (PENGU) lead the gainers with an over 6% jump. It was followed by XDC Network (XDC) with a 4% increase, reaching $0.1229.

Other notable gainers included Monero (XMR) and GateToken (GT), both up around 3%.

On the other hand, ai16z (AI16Z) lost 22%, with a price of $0.9539. Official Melania Meme (MELANIA) was down a massive 18% at $3.30. The coin has suffered a massive 54% decline in the last seven days.

Broader crypto price action

Internet Computer (ICP) has seen a 6.22% decrease in the last 24 hours, currently trading at $9.08.

Kaspa (KAS) has seen a 5.36% decrease in the last 24 hours, currently trading at $0.1289.

Injective (INJ) has seen a 5.81% decrease in the last 24 hours, currently trading at $20.76.

Immutable (IMX) has seen a 4.77% decrease in the last 24 hours, currently trading at $1.17.

JasmyCoin (JASMY) has seen a 5.86% decrease in the last 24 hours, currently trading at $0.02613.

IOTA (IOTA) has seen a 3.15% decrease in the last 24 hours, currently trading at $0.3153.

Helium (HNT) has seen a 2.54% decrease in the last 24 hours, currently trading at $4.38.

Kava (KAVA) has seen a 0.82% decrease in the last 24 hours, currently trading at $0.4717.

Kusama (KSM) has seen a 4.25% decrease in the last 24 hours, currently trading at $26.98.

JUST (JST) has experienced a 1.57% drop in the past 24 hours, currently trading at $0.03841.

Horizen (ZEN) has seen a modest 1.04% decline over the past day, currently trading at $22.06.

IoTeX (IOTX) has experienced a 2.91% drop in the past 24 hours, trading at $0.03336.

Kadena (KDA) has experienced a significant 10.09% drop in the past 24 hours, trading at $0.8004.

Hive (HIVE) has shown a slight 1.24% increase over the past 24 hours, currently trading at $0.3915.

ICON (ICX) has experienced a 5.11% drop in the past 24 hours, trading at $0.1651.

Huobi Token (HT) has shown a slight 0.37% decrease over the past 24 hours, currently trading at $1.01.

IOST (IOST) has shown a 5.01% increase over the past 24 hours, currently trading at $0.006169.

Kyber Network Crystal v2 (KNC) has experienced a 3.92% drop in the past 24 hours, trading at $0.5275.

Komodo (KMD) has experienced a 5.92% drop in the past 24 hours, trading at $0.2464.

HyperCash (HC) has experienced a significant 8.60% drop in the past 24 hours, trading at $0.02019.

Klaytn (KLAY) has seen a modest 7.85% decline over the past day, currently trading at $0.206.

Libra (LIBRA) has experienced a significant 56.57% increase in the past 24 hours, trading at $0.002057.

HedgeTrade (HEDG) has shown a slight 0.12% increase over the past 24 hours, currently trading at $0.006933.

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