Bitcoin Price Stays Above $68,000, Prices of Most Altcoins Rise After US Fed Keeps Policy Rates Steady

Bitcoin has been trading sideways for days with the value of the popular cryptocurrency remaining below the $70,000 mark (approximately Rs. 58.4 lakh). On Thursday, the value of the world’s most used digital asset increased by 0.66%. On international exchanges like CoinMarketCap and Coinbase, Bitcoin is currently trading at $68,105 (around Rs. 56.8 lakh) and remains subject to fluctuations. On the other hand, Bitcoin is now worth around $72,005 (around Rs. 60 lakh) on Indian exchanges like WazirX and CoinDCX.

“Over the past 24 hours, the crypto market has experienced volatility following the release of U.S. Consumer Price Index (CPI) data, which came in lower than expected. This initially led to a market surge, but prices quickly retreated after the FOMC announced that the Fed funds rate would remain constant for BTC, holding above the 67,000 level. $ (around Rs. 55.9 lakh) is crucial to sustain the uptrend,” CoinDCX markets desk told Gadgets360.

Ether the price increased by 0.30 percent in the last 24 hours. According to CoinMarketCapEther is trading at $3,509 (approximately Rs. 2.93 lakh) on foreign exchanges and $3,112 (approximately Rs. 2.6 lakh) on exchanges in India.

“Despite the imminent launch of Ether spot exchange-traded funds (ETFs) in the US, the price remained below $3,750 (approximately Rs. 3.13 lakh) for the last three days. Some attribute ETH’s lack of bullish momentum to uncertainty surrounding the filing timeline for individual S-1 fund approvals from the regulator. As derivatives metrics indicate, Ether investor optimism has fallen to a three-week low,” the ZebPay Trade Desk told Gadgets360. “ETH has strong support at $3,450 (approximately Rs. 2.88 lakh) while $3,700 (approximately Rs. 3.09 lakh) will now act as resistance for the asset.”

Some altcoins also joined BTC and ETH on the lucrative side of the crypto chart on Thursday. These include Binance Coin, Solana, USD Coin, RippleAnd Cardano.

Likewise, the prices of avalanche, Shiba Inu, Peas, Chain link, Close protocol, PolygonAnd Litecoin also increased on Thursday.

Only a handful of cryptocurrencies recorded losses, such as Attached, Dogecoin, Tron, Leo, Brain confidenceAnd Value circuits marked their names, in accordance with cryptocurrency price tracking by Gadgets360.

The overall crypto market cap increased by 1.40% in the last 24 hours. According to CoinMarketCap, the current valuation of the crypto sector currently stands at $2.47 trillion (approximately Rs. 2,06,31,292 crore). Currently, Bitcoin’s dominance in crypto sector valuation is 54.2%. Ether dominates the market at 17.2%, leaving the rest to other altcoins.

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