Cryptocurrency Price Today: Bitcoin Trades at $63,000, Most Altcoins Remain Wrapped in Losses

On Monday, April 29, Bitcoin entered the trading floor at a price of $63,192 (around Rs. 52.6 lakh) after recording a loss of 0.57% in India. On international exchanges like Binance, Bitcoin is trading at an almost similar price of $63,102 (around Rs. 52 lakh). According to market analysts, Bitcoin’s short-term indicators and sentiment are trending towards a bearish outlook.

“It seems like a bearish trend is forming for BTC, and we can expect a few days of slow movement ahead. Immediate resistance is around $63,400 (around Rs. 52.8 lakh),” Parth Chaturvedi, Investments, told Gadgets360 Lead, CoinSwitch Ventures.

Most altcoins were at a loss as of Monday, according to Gadgets360 Crypto price tracker.

These include Bind, Binance coin, Solana, RippleAND Dogemoneta.

Small but noticeable price reductions have also been recorded Cardano, Shiba Inu, Avalanche, Polka dotAND Chain shirt next to Polygon, Close to the protocolAND Leo.

“After the Bitcoin halving, cryptocurrencies witness increased volatility, with major tokens maintaining neutral sentiment. A recent crash triggered by Bitcoin’s decline has led to liquidations that have largely affected altcoins,” he told Gadgets360 Rajagopal Menon, Vice President of WazirX. “The price decline could also be influenced by the decline of the Japanese yen against the US dollar.”

The overall cryptocurrency market capitalization has fallen by 0.73% in the last 24 hours. The industry’s valuation, at the time of writing, stood at $2.35 trillion (approximately Rs. 1,95,96,121 crore) according to CoinMarketCap.

Taking a different price trajectory than Bitcoin, the second most valued cryptocurrency Ether managed to make small gains on Monday. ETH value currently stands at $3,130 (approximately Rs. 2.61 lakh) after posting a profit of 2.35%. On international exchanges, the price of ETH is $3,218 (around Rs. 26.8 lakh), as shown by CoinMarketCap.

Only a handful of cryptocurrencies managed to stay behind ETH on the earnings side of the cryptocurrency chart on Monday. These include Tron, Litecoin, Chrono, Neomoneta, QtumAND Iota.

“Macro events this week, such as the Fed funds rate and unemployment rate announcements, could introduce additional volatility into the market,” the CoinDCX research team told Gadgets360.

In other news, fintech giant Stripe has announced the reintroduction of crypto payments later in 2024. The company will only allow payments for USDC stablecoins on the Solana, Ethereum, and Polygon blockchains. In the United States, meanwhile, Metamask’s parent company, Consensys, filed a complaint against the SEC for “unlawful seizure of authority” over Ethereum held by the company.

Cryptocurrency is an unregulated digital currency, it 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, trading advice or any other advice or recommendation of any kind offered or endorsed by NDTV. NDTV will not be liable for any losses resulting from investments based on recommendations, forecasts or any other information contained in the article.

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