Cryptocurrency Price Today: Bitcoin Currently Trading at $38,000, Altcoins Show Mixed Move

On Friday, December 1, Bitcoin managed to post a small gain of 0.29%. The value of Bitcoin at the time of writing this article stood at $37,904 (approximately Rs. 31 lakh). In the last 24 hours, the value of Bitcoin increased by $38 (around 3,165 rupees). Explaining market conditions, Parth Chaturvedi, Investments Lead, CoinSwitch Ventures told Gadgets360 that buying pressure on BTC continues to outweigh selling pressure, suggesting investor sentiment is sustained and optimistic.

Ether It minted a profit of 2.43% on Friday. With this, the value of Ether rose to $2,089 (around Rs. 1.74 lakh) in the last 24 hours.

“This increase in value can be attributed to the recent news that MicroStrategy (MSTR) acquired nearly 16,130 BTC, worth around $608 million (around Rs. 5,064 crore) in November. This development has fueled positive sentiment among market participants, pushing prices higher and creating bullish market sentiment Meanwhile, the US SEC has requested comments from the general public on Fidelity’s Ether spot ETF application, on the other hand. it is a limited trading range between the $2,000 (around Rs. 1.66 lakh) and $2,100 (around Rs. 1.74 lakh) levels,” Edul Patel, co-founder and CEO of Mudrex, told Gadgets360.

Cryptocurrencies traded today are in positive territory along with Bitcoin and Ether Ripple, Solana, Dogemoneta, Tron, Chain shirt, AvalancheAND Polygon.

Small profits were also reflected Polka dot, Shiba Inu, Leo, Uniswap, CosmosAND Stellar.

The overall cryptocurrency market capitalization increased by 1.05% in the last 24 hours to $1.44 trillion (around Rs 1,19,97,259 crore). CoinMarketCap.

“The US SEC has requested comments from the general public on Fidelity’s spot Ether ETF filing. This development has fueled positive sentiment among market participants, pushing prices higher and creating a bullish market sentiment,” Patel added.

New research from JP Morgan also shows that DeFi and NFT activity has also seen a recovery in recent months after two years of slowdown.

Meanwhile, cryptocurrencies that suffered losses today include Binance coin, Cardan, Litecoin, ChronoAND BinanceUSD.

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