Crypto Price Today: Bitcoin Posts Minor Gains as Prices of Most Altcoins Fall Amid Market Volatility

On Friday, the price of Bitcoin increased by 0.69%, taking the value of the world’s most widely used cryptocurrency to $68,600 (around Rs. 57 lakh) on international exchanges like CoinMarketCap. On domestic exchanges like WazirX and CoinDCX, the digital asset is trading at a slightly higher price of $71,930 (around Rs. 59.8 lakh). Bitcoin has been hovering around the same price range for over two weeks, and market experts have predicted that if BTC fails to cross the resistance point of $68,800 (roughly Rs. 52.7 lakh), it could enter into a spiral of losses.

“BTC continues to move in the lower time frame. It needs to sustain above $67,000 (around Rs. 55.7 lakh) to avoid a possible small decline. Alts are weaker than BTC as the ETH/BTC pair is at a resistance level,” CoinDCX’s market team told Gadgets360 on Friday.

Ether experienced a loss of 1.58 percent on Friday. The second most expensive asset after Bitcoin, Ether is trading at $3,951 (approximately Rs. 3.2 lakh) on Indian exchanges, while on foreign exchanges, ETH costs $3,745 (approximately Rs. 3.11 lakh). “Analysts have mixed opinions on the impact of potential low volumes, but Ethereum’s performance remains robust,” said Rajagopal Menon, vice president of WazirX.

Most cryptocurrencies saw their value fall on Friday, including Binance Coin, Solana, Ripple, Cardano, Shiba Inu, avalancheAnd Peas.

Other altcoins that have seen price declines include Close protocol, Polygon, Uniswap, Cosmos, StellarAnd Kronos.

The overall crypto market capitalization decreased by 0.04% over the last 24 hours. The current valuation of the crypto sector stands at $2.54 trillion (approximately Rs. 2,11,54,720 crore), according to CoinMarketCap.

Meanwhile, cryptocurrencies that have increased in value include Attached, USD Coin, Dogecoin, Chain link, LitecoinAnd Leo.

“If the Fed decides to ease monetary policy in its next meeting, the crypto market could see an upward trend,” Shivam Thakral, CEO of BuyUcoin told Gadgets360.

Cryptocurrency is an unregulated digital currency that is not legal tender and is subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, business advice or any other advice or recommendation of any kind offered or endorsed by NDTV. NDTV will not be liable for any loss resulting from an investment based on any recommendation, forecast or other perceived information contained in the article.

Affiliate links may be automatically generated – check out our ethics statement for more details.

Fuente