Tag: bitcoin cash

Crypto Price Today: Bitcoin Dips as Binance CEO Pleads Guilty to Violating US Laws, BNB Down by 11 Percent

Bitcoin on Wednesday, November 22 recorded a drop of 3.26 percent in the backdrop of most cryptocurrencies reflecting losses next to them. At the time of writing, the value of Bitcoin stood at $36,343 (roughly Rs. 30.28 lakh). The reason behind this mega market slippage is what transpired between Binance CEO Changpeng Zhao and the US authorities. Essentially, Zhao has pleaded guilty to have broken US’ anti-money laundering laws while facilitating $4.3 billion (roughly Rs. 35,828 crore) settlement to end a year-long probe on its operations. He also announced that he was stepping down as the CEO of Binance.

Ether dropped in value by 2.63 percent on Wednesday and clocked a loss of $36 (roughly Rs. 2,997). At the time of writing, ETH was trading at $1,977 (roughly Rs. 1.63 lakh). Meanwhile, Bitcoin price has reduced by $1,129 (roughly Rs. 94,020).

It is notable that Binance’s native token that is the Binance Coin registered a big price drop of 11.69 percent. Presently, its trading at $232 (roughly Rs. 19,389) after its overall market cap also fell by over nine percent in the last few hours. Just yesterday, Binance was trading at $270 (roughly Rs. 22,4845).

“In the past 24 hours, the US Department of Justice (DoJ) has imposed a fine of over $4 billion (roughly Rs. 35,804 crore) on Binance, making it one of the largest penalties the DOJ has ever obtained from a corporate defendant in a criminal matter,” the CoinSwitch market desk told Gadgets 360.

Cryptocurrencies that are trading in losses alongside BTC, ETH, and BNB include Tether, Ripple, Solana, Cardano, Dogecoin, Tron, and Chainlink.

Polygon, Avalanche, Polkadot, Litecoin, Shiba Inu, and Bitcoin Cash are also all trading in the reds, reflecting losses.

The overall crypto market cap tumbled by 2.45 percent in the last 24 hours to now claim the mark of $1.38 trillion (roughly Rs. 11.4 crore), showed CoinMarketCap.

“In broader economic news, the US Fed Meeting Minutes indicated a cautious policy stance without suggesting a rate cut,” the CoinDCX research team told Gadgets360.

Among profit-making cryptocurrencies today, only Uniswap, Iota, and Braintrust managed to mark their presence.

“With the BNB coin falling in value, DEX-based tokens, especially SNX (+2.4 percent) and DYDX (+7.0 percent) may start seeing some more traction,” CoinSwitch added.

Cryptocurrency is an unregulated digital currency, not a legal tender and 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 sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.

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Crypto Price Today: Losses Strike Bitcoin, Ether as Most Cryptocurrencies See Price Corrections

Bitcoin saw a loss of 2.87 percent on Friday, November 17. With this, the value of Bitcoin slipped to $36,341 (roughly Rs. 30.2 lakh). The value of Bitcoin, in the last 24 hours, dipped by $1,132 (roughly Rs. 94,243) in terms of value. This week, Bitcoin saw price dips twice. While these drops have been minor, experts label them as an important phase of price correction for crypto assets. Along with Bitcoin, several other cryptocurrencies also reflect losses today.

A loss of 3.52 percent struck Ether on Friday. At the time of writing, ETH was trading at $1,979 (roughly Rs. 1.64 lakh). Over the last day, the price of ETH has reduced by $76 (roughly Rs. 6,327).

“BTC continues its price-correction phase. While approximately $21 million (roughly Rs. 174 crore) in long positions have been wiped as per CoinGlass data, we are in such a market condition that investors seem to have left the possibility open for both new highs or deeper price action in the red. If green price action is registered, we may even see an attempt by BTC for the $38,000 (roughly Rs. 31.6 lakh)-$40,000 (roughly Rs. 33.3 lakh) range,” Parth Chaturvedi, Investments Lead, CoinSwitch Ventures told Gadgets 360.

Binance Coin, Ripple, Cardano, Tron, Polygon, Chainlink, and Polkadot — all recorded losses today.

There were further joined by Litecoin, Shiba Inu, Bitcoin Cash, Leo, Stellar, and Uniswap on the red side of the crypto chart.

The overall crypto market valuation dropped by 2.53 percent in the last 24 hours. At present, the crypto market cap stands at $1.39 trillion (roughly Rs. 115,73,292 crore), as per CoinMarketCap.

“A prevailing sense of caution remains prominent among investors, underscoring the nuanced nature of the current market environment. While trading volumes for the top two market-cap tokens, BTC and ETH, have shown robust activity, the application for an Ethereum ETF by BlackRock appears to have influenced market sentiment favourably towards Ethereum at least for some time,” Rajagopal Menon, Vice President, WazirX told Gadgets360.

Meanwhile, cryptocurrencies that managed to mint profits include Tether, Solana, USD Coin, and Dogecoin.

Avalanche grew by over 76 percent in the last week, following JPMorgan and Apollo using the network to demonstrate how asset managers could tokenise funds.

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Bitcoin Rebounds to Trade Over $37,000, Most Loss-Ridden Altcoins See Recoveries

Bitcoin on Thursday, November 16, saw profits again after reeling under losses for the past two days. With a gain of 5.96 percent, the value of Bitcoin presently stands at $37,473 (roughly Rs. 31 lakh). In the last 24 hours, the value of Bitcoin has risen by $2,056 (roughly Rs. 1.7 lakh). This rally in Bitcoin price could be a result of stablecoin issuer Paxos reportedly planning to launch a new dollar-backed stablecoin for Singapore. Following Bitcoin’s lead, most cryptocurrencies also recorded profits today.

Ether minted gains of 4.46 percent on Thursday. At the time of writing, the value of Ether stands at $2,055 (roughly Rs. 1.7 lakh). Over the last day, the value of ETH stands at $82 (roughly Rs. 6,822).

Among other cryptocurrencies that accumulated gains today, stablecoins such as Tether, Ripple, USD Coin marked their presence on the profit-making side of the crypto price chart.

Solana, Dogecoin, Tron, Chainlink, and Polkadot — all recorded losses today.

In the last 24 hours, a positive development came from Singapore. Paxos, a popular stablecoin issuer, is planning to issue a new dollar-based stablecoin for the Singapore region.

Litecoin, Shiba Inu, Bitcoin Cash, Leo, Cosmos, Stellar, Uniswap, Monero, and Cronos also recorded gains.

In the last 24 hours, the overall crypto cap rose by 4.91 percent to sit atop the valuation of $1.43 trillion (roughly Rs. 1,18,97,414 crore), reflected CoinMarketCap.

“Popular AI token RNDR (+35.2 percent) led the altcoin rally and reached its 19-month high. SOL (+15.9 percent), too, continued to rise as it successfully rebounded from its newly found support at $55 (roughly Rs. 4,575),” Shubham Hudda, Senior Manager, CoinSwitch Markets Desk, told Gadgets 360.

Meanwhile, only a small number of cryptocurrencies recorded losses today. These include Polygon, Leo, Monero, Nem, and Augur.

Cryptocurrency is an unregulated digital currency, not a legal tender and 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 sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article. 

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Crypto Price Today: Bitcoin Price Spikes to See More Profits, Small Losses Hit Ripple, Dogecoin

Bitcoin on Friday, October 10 reflected a small gain of 0.53 percent. While the gain percentage may look like a small one, it did take Bitcoin’s trading value to $36,770 (roughly Rs. 30.6 lakh). In the last 24 hours, the value of Bitcoin jumped up by $452 (roughly Rs. 37,664). This hike in value marks Bitcoin’s highest pricing in eighteen months. With the topmost cryptocurrency trading in profits, majority altcoins are entering their recovery phases.

“The wave of optimism towards Bitcoin spot ETF continues as the approval window for its commencement begins. While the approval itself can take place as predicted by analysts which can push the token price beyond $40,000 (roughly Rs. 33 lakh), it will be a while before ETFs get launched for the public,” Rajagopal Menon, Vice President, WazirX told Gadgets360 while commenting on the market situation.

Ether for instance, has been trading in profits for over a week now. On Friday, after gaining substantially by 10.69 percent, Ether value finally breached the mark of $2,000 (roughly Rs. 1.66 lakh). At the time of writing, ETH was trading at $2,115 (roughly Rs. 1.76 lakh).

“In this volatile scenario, ETH demonstrated resilience, holding its position just below the $2,130 (roughly Rs. 1.76 lakh) resistance level and registering a noteworthy 10 percent gain within a day. This outperformance against BTC in the last 24 hours may be attributed to the news that BlackRock asset manager, officially filed for a Spot Ethereum ETF with NASDAQ. It’s previously filed BTC spot ETF is pending approval,” the CoinDCX Research Team told Gadgets360.

Binance Coin, USD Coin, Solana, Cardano, Chainlink, and Polygon emerged among profit-making cryptocurrencies alongside BTC and ETH.

Tron, Polkadot, Litecoin, Shiba Inu, Avalanche, and Cosmos also managed to clock small gains.

The overall crypto market cap rose by 2.30 percent in the last 24 hours. As per CoinMarketCap, the crypto market valuation stands at the mark of $1.4 trillion (roughly Rs. 1,16,59,102 crore).

“Tokens of ETH liquid staking platforms have observed a surge after news about BlackRock’s plan to file for an ETH-based ETF became public. These tokens include LDO (+18.9 percent) and RPL (+21 percent),” Parth Chaturvedi, Investments Lead, CoinSwitch Ventures told Gadgets360.

Only a handful of cryptocurrencies recorded losses today. These include Ripple, Dogecoin, Bitcoin Cash, Leo, Stellar, and Uniswap.

Cryptocurrency is an unregulated digital currency, not a legal tender and 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 sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.

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Crypto Price Today: Bitcoin Stays Dominant Priced Over $36,000, Most Altcoins See Gains Including Ether, Cardano

Bitcoin on Thursday, November 9 clocked a profit of 2.84 percent. With this, the value of Bitcoin has reached the mark of $36,318 (roughly Rs. 30.2 lakh), making it the highest price that the asset has managed to record this year so far. Co-incidentally, it was on November 9, 2021, when Bitcoin and Ether set their last known all-time highs (ATHs) of $68,000 (roughly Rs. 56 lakh) and $4,890 (roughly Rs. 4 lakh) respectively. While BTC and ETH are far away from their last attained ATHs, they are trading at elevated prices compared to their pricings from earlier this year.

Ether grew by 1.83 percent in the last 24 hours. The value of Ether currently stands on the mark of $1,916 (roughly Rs. 1.59 lakh).

“Investors should exercise caution as the market starts to become euphoric. The market can expect to see a correction phase,” Shubham Hudda, Senior Manager, CoinSwitch Markets Desk told Gadgets360.

Cardano, Dogecoin, Chainlink, and Polygon emerged among profit-making cryptocurrencies alongside BTC and ETH.

Notable gains also graced Binance Coin, Polkadot, Litecoin, Shiba Inu, Avalanche, Stellar, and Cosmos among other cryptocurrencies.

As per Hudda, “Popular and old DeFi projects like AAVE (+10.2 percent), Synthetix (+8.6 percent), and Chainlink (+9.1 percent) have started to show strength in the backdrop of Bitcoin reaching new highs for the first time in last 18 months.”

The overall crypto market cap spiked by 3.97 percent in the last 24 hours. With this, the valuation of the crypto sector stands at $1.37 trillion (roughly Rs. 1,14,05,455 crore), showed CoinMarketCap on Thursday.

Meanwhile, small losses struck Tether, Monero, and Status that are trading in the reds on the crypto chart today.

“Along with Bitcoin and Ether, altcoins like SOL, TON, and MATIC made impressive contributions to the current market rally as the world’s largest altcoin, ETH, jumped by over 15 percent in November. The digital asset industry is ready for the next phase of responsible growth as the FTX trial has come to a close. The positive market sentiment is pointing towards healthy and sustainable growth in the coming weeks subject to macro-economic conditions,” Shivam Thakral, CEO of BuyUcoin, India’s second-longest-running digital asset exchange told Gadgets360.

Cryptocurrency is an unregulated digital currency, not a legal tender and 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 sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article. 

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Crypto Price Today: Bitcoin Price Remains Stable Above $34,000 Despite Several Altcoins Seeing Losses

Bitcoin on Tuesday, November 1 reflected minor gains of 0.60 percent on the crypto price chart. At the time of writing, the value of Bitcoin stood at $34,397 (roughly Rs. 28.6 lakh). It has been about eight days that Bitcoin has managed to keep its value above the mark of $34,000 (roughly Rs. 28.3 lakh). In the last 24 hours, the value of Bitcoin has grown in value by $127 (roughly Rs. 10,576). Ether minted a small profit of 0.57 percent on Tuesday. It stepped into November trading at the price point of $1,809 (roughly Rs. 1.50 lakh).

It is noteworthy that it was in the month of November 2021, when both — Bitcoin and Ether had registered their last known all-time high (ATH) prices of $68,000 (roughly Rs. 56.6 lakh) and $4,815 (roughly Rs. 4 lakh) respectively. Presently, both are trading fairly behind their respective ATHs.

“BTC concluded October with a remarkable 29 percent surge, partly attributed to the growing speculation about the approval of BTC spot ETFs. Additionally, the approaching halving event is drawing nearer, further piquing investor interest. Notably, there has been a significant increase in social media volume related to BTC recently, which reflects a positive trend, indicating rising interest among investors and traders. Meanwhile, ETH is gradually picking up momentum, while many altcoins are maintaining a sideways movement,” the CoinDCX team told Gadgets360.

Other cryptocurrencies that are trading in the greens today include Ripple, Solana, USD Coin, Stellar, and Tron.

Near Protocol, Neo Coin, and Iota also recorded small gains on Tuesday.

With a miniscule rise of 0.13 percent, the market cap of the crypto sector stands unchanged for the third day at $1.27 trillion (roughly Rs. 1,05,73,111 crore).

“Broader markets are looking forward to the Fed meeting expected to happen today. Any interest rate change is expected to change the tone of crypto market performance. Though, investors are particularly excited about spot BTC ETFs in the US, the SEC may respond to the BTC ETF applications before the winter holiday season this year,” Parth Chaturvedi, Investments Lead, CoinSwitch Ventures told Gadgets360.

Meanwhile, cryptocurrencies trading in losses today include Cardano, Dogecoin, Chainlink, and Polygon.

Polkadot, Litecoin, Avalanche, Cosmos, Uniswap, and Cronos also saw losses.

 

Cryptocurrency is an unregulated digital currency, not a legal tender and 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 sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.

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Crypto Price Today: Bitcoin Holds Ground Above $34,000, Stablecoins Tumble Alongside Tron, Leo

Bitcoin’s trading price on Monday, October 30 held ground over the mark of $34,000 (roughly Rs. 28 lakh), maintaining a strong position. At the time of writing, the value of Bitcoin stood at $34,295 (roughly Rs. 28.5 lakh). Talking to Gadgets 360, the CoinDCX research team said that this week carries significant weight for the crypto market due to various macro events lined up in the US that includes the FOMC meeting, the monthly unemployment rate announcement, refreshed list of job openings, and the US non-farm Employment Change – all of which can introduce volatility to the crypto market.

Ethereum minted a small profit of 0.08 percent on Monday. This brings the value of ETH to stand at $1,780 (roughly Rs. 1.48 lakh).

“There’s a noticeable divide in opinions regarding the future of Bitcoin, with some anticipating a potential breakthrough past the $35,000 (roughly Rs. 29 lakh) resistance level, while others foresee a looming price correction. The situation is equally intriguing in the world of Ethereum. The prospect of Ethereum surpassing the $1,800 (roughly Rs. 1.4 lakh) level has sparked hopes of a significant rally, igniting optimism among investors. Over the weekend, signs of recovery began to emerge in the market as prices of tokens went up after a brief one-day correction,” Rajagopal Menon, Vice President, WazirX told Gadgets360.

Ahead of the US releasing details on interest rates and unemployment rate – most cryptocurrencies are trading in profits today.

These include Binance Coin, Ripple, Solana, Cardano, Dogecoin, Chainlink, and Polygon.

Other cryptocurrencies to have recorded profits include Polkadot, Litecoin, Avalanche, Stellar, Cosmos, Uniswap, and Cronos.

The crypto market valuation, that spiked by 0.03 percent in the last 24 hours, now stands on the mark of $1.27 trillion (roughly Rs. 1,05,73,111 crore), as per CoinMarketCap.

“With a gains-led momentum within the crypto market, investors are registering record trading activities. The total value of money invested in active bitcoin and ether options contracts on the prominent BTC and ETH options and futures exchange—Deribit—has surged to $20.64 billion (roughly Rs. 830 crore). This tally nearly parallels the peak registered in 2021 when BTC was at $66,000 (roughly Rs. 54.9 lakh),” Parth Chaturvedi, Investments Lead, CoinSwitch Ventures told Gadgets360.

Small losses struck a handful of altcoins today, which include Tether, USD Coin, Tron, Leo, and Bitcoin SV.

Cryptocurrency is an unregulated digital currency, not a legal tender and 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 sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.

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Crypto Price Today: Bitcoin Price Hovers Close to $34,000, Small Gains Strike Ripple, Dogecoin

Bitcoin recorded a small loss of 1.91 percent on Friday, October 27. The value of Bitcoin, at the time of writing, stood at the mark of $34,022 (roughly Rs. 28.32 lakh). Throughout this week, Bitcoin has shown a strong performance in the market, hitting its highest value in over a year and a half. Most of the current frenzy around Bitcoin right now can be owed to the excitement there is about the possibility of the US eventually approving BTC ETFs in the coming weeks.

Ether followed Bitcoin into losses on the price ladder on Friday. Ether is currently trading at the price point of $1,790 (roughly Rs. 1.48 lakh).

“BTC seems to be undergoing some slight correction after witnessing an eight-day rally before it started observing a rangebound price action these past two days. The broader crypto market has reacted in sync and seems to be cooling off after the rally. Top 20 crypto by M.Cap seems to be trading slightly in the red,” Parth Chaturvedi, Investments Lead, CoinSwitch Ventures told Gadgets360.

Tether, Binance Coin, Solana, Cardano, Chainlink, Polygon, Polkadot, Litecoin, and Avalanche are all trading in losses.

Price dips have also been registered by Stellar, Monero, Cosmos, Uniswap, and Cronos.

In the last 24 hours, the overall crypto market valuation came to the mark of $1.25 trillion (roughly Rs. 104,04,575 crore) after incurring a dip of 1.38 percent, as per CoinMarketCap. The crypto fear and greed index is also well within the greed zone with a score of 70/100, signalling bullish sentiments among crypto investors.

Small profits, meanwhile, were recorded by USD Coin, Dogecoin, Leo, Binance USD, Near Protocol, and Ardor.

“It’s worth noting that the US Gross Domestic Product (GDP) grew at a rate of 4.9 percent in the third quarter, surpassing the estimated 4.7 percent. This positive economic performance is a good sign, especially with BTC showing resilience while the US stock market continues to decline,” the research team at CoinDCX told Gadgets360.

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Crypto Price Today: Bitcoin Inches Closer to $35,000 Mark as Values of Altcoins Like Ripple and Stellar Drop

Bitcoin on Thursday saw its value rise by 1.78 percent as the price of BTC, the most widely used cryptocurrency, stood at $34,690 (roughly Rs. 28.8 lakh). This is the first time in six months that the price of Bitcoin has reached so close to the mark of $35,000 (roughly Rs. 29 lakh). Over the last 24 hours, the price of Bitcoin rose by $740 (roughly Rs. 61,560). In the backdrop of this, most cryptocurrencies saw their values rise, and holders of several crypto assets minted profits today.

Ether value rose by 0.08 percent on Thursday, taking the asset’s trading value to $1,793 (roughly Rs. 1.49 lakh). Over the last day, the price of Ether rose minutely by $5 (roughly Rs. 415). “The Bitcoin rally is supported by a wave of new and smaller investors flocking to the market. There’s a palpable buzz about larger asset management firms entering the Bitcoin arena. This heightened anticipation follows the possibility of a green light from the US SEC for a Bitcoin Exchange-Traded Fund (ETF),” Rajagopal Menon, Vice President, WazirX told Gadgets360.

Tether, Solana, Cardano, Dogecoin, Litecoin, and Polygon showed profits on Thursday.

Polkadot, Shiba Inu, Avalanche, Monero, Cosmos, and Cronos also recorded gains.

The overall valuation of the crypto sector rose by 1.94 percent in the last 24 hours. The market cap of the digital assets sector, as for now, stands at $1.28 trillion (roughly Rs. 1,06,53,267 crore), as per CoinMarketCap. “The consistent gains registered by BTC have overshadowed the price action of ETH and other major altcoins. This has led to BTC dominance hitting a new 30-month high of over 54 percent; the highest since April 2021. In terms of other cryptos, Polygon developers have announced that smart contracts of the upcoming POL token have gone live on the Ethereum mainnet as the Polygon blockchain sets motion to its plans. The POL token is expected to be valid on all blockchains that run atop the Polygon network,” Parth Chaturvedi, Investments Lead, CoinSwitch Ventures told Gadgets360.
Cryptocurrencies that dropped in value included Binance Coin, Ripple, Litecoin, Stellar, Uniswap, and Bitcoin SV. Neo Coin, Zcash, Dash, Status, Ardor, and Braintrust are also currently trading at lower values.

“As investors become comfortable with the risk curve during this market phase, altcoins may see an uptick in investor interest, leading to a correction in BTC dominance. Furthering Web3’s institutional push, Mastercard and MoonPay are collaborating to explore how blockchain-based Web3 technology can enhance consumer loyalty in the crypto and NFT payment space,” Chaturvedi noted. “Market sentiment is currently the most positive it has been since November 2021, as indicated by the crypto fear and greed index reaching 72, signifying a strong bullish sentiment. Interestingly, meme tokens like PEPE have experienced substantial gains, with an increase of over 25 percent in the past day,” the CoinDCX research team added.

Cryptocurrency is an unregulated digital currency, not a legal tender and 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 sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article. 

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Crypto Price Today: Bitcoin Price Above $33,000, Most Popular Altcoins See Small Losses

Bitcoin stepped into Wednesday, October 10, with a loss of 2.04 percent. The value of Bitcoin, despite the loss, stands at $33,950 (roughly Rs. 28 lakh) retaining its 16-month high trading value. While the crypto market has seen some volatility over the last day, the value of BTC has risen by $327 (roughly Rs. 27,165). The instability in the trading arena, however, has impacted most other cryptocurrencies. All top ten cryptocurrencies by market valuation are trading in the reds today.

Ether clocked a loss of 1.39 percent on Wednesday. The asset, at the time of writing, was trading at the price point of $1,788 (roughly Rs. 1.48 lakh). In the last 24 hours, the value of ETH did reduce by $25 (roughly Rs. 2,076).

“This dip could be linked to the temporary removal of BlackRock’s (BLK) spot Bitcoin ETF ticker, IBTC, from the Depository Trust & Clearing Corporation’s (DTCC) website. However, it’s important to note that the ticker was relisted after a few hours,” the CoinDCX research team told Gadgets360.

“From a technical perspective, both BTC and ETH are trading above the 50-day and 200-day Exponential Moving Averages (EMA-D) and are currently consolidating after their recent upward momentum. While ETH faces a few resistance levels to clear for its uptrend, BTC is showing strength as it reaches a 52-week high.”

Cryptocurrencies that recorded losses alongside BTC and ETH today include Binance Coin, Ripple, Solana, Cardano, Dogecoin, Litecoin, and Polygon.

Polkadot, Shiba Inu, Avalanche, Stellar, and Monero are also trading in the reds today.

The overall valuation of the crypto sector, that presently stands at $1.25 trillion (roughly Rs. 1,03,89,187 crore), saw a slight slip of 0.92 percent in the last 24 hours, showed CoinMarketCap.

Meanwhile, some cryptocurrencies did manage to record profits today.

These include Tether, USD Coin, Leo, Binance USD, Cronos, and Near Protocol among other underdog cryptocurrencies.

Until the US takes a final call on whether to approve BTC ETFs, the crypto market volatility is expected to remain prevalent. For now, the expectations that BTC ETFs could get the approval in the US have kept the market participants excited.

“The US Securities and Exchange Commission (SEC) appears to be adopting a more favourable stance toward Crypto ETFs, a shift that has been met with enthusiasm by institutional investors. This newfound openness has sparked hopes of an impending bull market. However, the timing of such a market shift remains uncertain and may be too early to predict with absolute certainty,” Rajagopal Menon, Vice President, WazirX told Gadgets360.

Cryptocurrency is an unregulated digital currency, not a legal tender and 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 sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.

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