Tag: dogecoin

Crypto Price Today: Bitcoin, Ether Log Losses Alongside Most Altcoins, Only Few Cryptos See Gains

Bitcoin on Friday, February 23 reflected a loss of 1.13 percent to trade at the price point of $51,017 (roughly Rs. 42.2 lakh). This is the second consecutive day this week, that Bitcoin has logged a loss. It is, however, impressive that the asset has managed to hold ground at the mark of $51,000 (roughly Rs. 42 lakh) despite incurring losses. In the last 24 hours, the value of BTC tumbled by $375 (roughly Rs. 31,080). Market analysts believe this is a price correction phase for Bitcoin and subsequently for majority other cryptocurrencies as well.

Ether recorded a drop of 1.54 percent on Friday. With this, its trading value has come to the mark of $2,799 (roughly Rs. 2.3 lakh). Over the last day, the value of ETH has dropped by $42 (roughly Rs. 3,480).

“In the last 24 hours, the crypto market showed a slight bearish sentiment with the first net outflow from BTC ETF since January 25, 2024, signalling bearishness. Additionally, funding rates were not favorable for bulls. Technically, BTC closed in the red but stayed within its range. Meanwhile, ETH remained relatively stable,” the CoinDCX team told Gadgets360.

Majority of the popular cryptocurrencies are trading in losses as of Friday.

These include Tether, Solana, Ripple, USD Coin, Cardano, Avalanche, and Tron.

Chainlink, Polkadot, Bitcoin Cash, Litecoin, Uniswap, and Cosmos are also reeling under losses as of Friday.

The overall crypto market valuation stands at $1.95 trillion after incurring a dip of 0.25 percent in the last 24 hours, shows CoinMarketCap.

Meanwhile, only a few altcoins managed to see gains on Friday. These include Binance Coin, Polygon, Shiba Inu, Stellar, and Cronos.

“As for altcoins, BNB’s (+1.1 percent) price climbed to its highest since the FTX crash. This could be attributed to fading concerns around regulatory issues related to Binance, and an upcoming Web3 gaming project’s airdrop farming campaign for BNB holders. Additionally, AI tokens continued to surge on the back of Nvidia’s 4th quarter earnings; RNDR is up 9.3 percent while WLD (+13.9 percent) hit its record high,” Parth Chaturvedi, Investments Lead, CoinSwitch Ventures told Gadgets360.

In other news, Reddit disclosed its investment in Bitcoin and Ethereum ahead of its IPO. The company also acquired Ether and Polygon for the sale of specific virtual goods. The company has submitted its filing on the New York Stock Exchange under the ticker symbol ‘RDDT’.

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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Bitcoin Surges Beyond $52,000 for First Time Since 2021, Overall Crypto Chart Reflect Profits

Bitcoin on Thursday rose by 4.86 percent. The asset, for the first time in over two years, is trading at $52,044 (roughly Rs. 43.2 lakh). The capital inflows into Bitcoin ETFs as well as the approaching Bitcoin halving event are among major factors that are contributing to this rally for the reigning crown of the crypto kingdom. Currently, the total value invested in the asset has already surpassed the trillion-dollar mark. Ether, on the other hand, showed a gain of 5.75 percent. At the time of writing, Ether was trading at $2,792 (roughly Rs. 2.31 lakh). Over the last two days, the value of Ether has spiked by $150 (roughly Rs. 12,450).

“The crypto market continues to rise, with Bitcoin and Ethereum hitting their highest points of the year. This growth is fueled by increased investments in Bitcoin spot ETFs and positive sentiment about the upcoming halving event. Ethereum aims to break the $2,900 (roughly Rs. 2.4 lakh) barrier on its way to $3,300 (roughly Rs. 2.7 lakh). Altcoins have also started showing strength — tokens like STX and IMX have surged by over 25 percent in just a few days,” the CoinDCX market desk told Gadgets 360.

Solana, Ripple, , Uniswap, and Chainlink joined BTC and ETH on the profit-making side of the crypto price chart.

Cardano, Avalanche, Dogecoin, Tron, and Polkadot also registered profits.

Cryptocurrencies that saw their values fall on Thursday include USD Coin, Tether, Cosmos, and Monero.

The overall crypto market cap spiked by 5.32 percent in the last 24 hours. The sector valuation, as for now, stands at $1.95 trillion (roughly Rs. 1,61,88,578 crore), as per CoinMarketCap.

The crypto sector is garnering traction from both – the global investor community as well as the world leaders. Earlier this week, for instance, Indian Prime Minister Narendra Modi called out for global support to tackle emerging technologies like artificial intelligence (AI) and cryptocurrency.

“One event investors should pay close attention to is the recent Genesis court approval to redeem its Grayscale Bitcoin Trust holdings valued at $1.3 billion (roughly Rs. 10,790 crore) and potential impacts on the cryptocurrency market,” Shivam Thakral, CEO of BuyUcoin 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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Bitcoin Price Rises Above $48,000 Mark, Values of Several Cryptocurrencies Drop

Bitcoin on Monday reflected a small gain of 0.74 percent and the price of the world’s most popular cryptocurrency was $48,101 (roughly Rs. 39.9 lakh) at the time of publishing. Over the weekend, the value of the digital asset rose by $1,826 (roughly Rs. 1.5 lakh). As per market analysts, if the Bitcoin price rises above $48,970 (roughly Rs. 40 lakh), the next target would be $50,000 (roughly Rs. 41.5 lakh) — a milestone Bitcoin has not managed to cross since December 2021.

Ether failed to follow Bitcoin on the profit trail on Monday and saw its value drop by 0.55 percent. Presently, the value of Ether stands at $2,498 (roughly Rs. 2.07 lakh).

“Over the weekend, Bitcoin hovered above $48,000 (roughly Rs. 39.8 lakh), reaching its highest level in 26 months, fuelled by significant net inflows into spot Bitcoin ETFs in the previous week. Meanwhile, Ethereum also hit the $2,540 (roughly Rs. 2 lakh) mark — its highest since January 19 — and is currently consolidating around $2,500 (roughly Rs. 2.07 lakh), with resistance at $2,620 (roughly Rs. 2.17 lakh) and support at $2,440 (roughly Rs. 2.02 lakh),” Edul Patel, CEO of Mudrex told Gadgets360.

Like Ether, most cryptocurrencies reflected losses on Monday. These include Binance Coin, Ripple, Dogecoin, Cardano, and Avalanche.

Even other altcoins like Solana, Binance Coin, Shiba Inu, Litecoin, Bitcoin Cash, and Uniswap saw their values fall on Monday.

The overall valuation of the crypto sector dipped by 0.76 percent in the last 24 hours. At present, the crypto market cap holds ground at the mark of $1.8 trillion (roughly Rs. 1,49,40,576 crore), showed CoinMarketCap. While the Bitcoin dominance on the market currently stands at 52.5 percent, Ether dominance stands at 16.7 percent.

“Once Bitcoin dominance cools down, Ethereum and altcoins can also see a potential rapid jump in their market capitalisation,” Shivam Thakral, CEO of BuyUcoin told Gadgets360.

Meanwhile, Bitcoin Cash, Litecoin, Uniswap, Near Protocol, Monero — managed to see small profits on Monday.

“We are likely to see some prominent token unlocks this week, including the release of over $96 million (roughly Rs. 796 crore) worth of Sandbox’s SAND, equivalent to approx. Nine percent of SAND’s entire supply. This is slated for Valentine’s Day. Other unlocks include Aptos with a release of over seven percent (roughly worth $224.8 million (roughly Rs. 1,865 crore)) of its total token supply, and ApeCoin on February 16 with a release of 2.5 percent (roughly Rs. worth $21.84 million (roughly Rs. 181 crore) of its total token supply,” Parth Chaturvedi, Investments Lead, CoinSwitch Ventures told Gadgets360.

However, market experts have advised caution to the global investor community. “Overall, BTC’s resilience amidst regulatory scrutiny and market dynamics underscores its potential for further gains, but investors should remain vigilant of key resistance levels and external factors influencing market sentiment,” 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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Crypto Price Today: Bitcoin Breaches $46,000 Mark, Most Cryptocurrencies Mint Profits

Bitcoin minted a profit of 4.18 percent on Friday, February 9. After frequent price reductions these recent weeks, Bitcoin has finally managed to breach the mark of $46,000 (roughly Rs. 38.1 lakh). At the time of writing, the asset is trading at the price point of $46,275 (roughly Rs. 38.4 lakh). In the last 24 hours, Bitcoin has risen in value by $1,770 (roughly Rs. 1.46 lakh). As per market analysts, there is increased investor confidence leading up to the halving event. As per a recent Glassnode report, there has been a 3.6 percent increase in Bitcoin wallets holding more than 1,000 BTC from January 19 to February 6.

“The Chinese New Year period has been a catalyst for Bitcoin’s upward momentum historically. The surge coincides with S&P 500 going to reach a historic high. Bulls are now looking towards $50,000 (roughly Rs. 41.5 lakh) as the next significant psychological resistance level, fuelled by positive sentiment,” Edul Patel, CEO of Mudrex, told Gadgets360.

Bitcoin’s rally ignited an upward movement for all major cryptocurrencies on Friday. Ether recorded a profit of 1.43 percent on Friday. This has taken its trading price to $2,449 (roughly Rs. 2.03 lakh). The asset has gained $24 (roughly Rs. 1,992) in its price in the last 24 hours.

Ripple, Dogecoin, Cardano, [Avalanche], Solana, Binance Coin, Shiba Inu, Litecoin, Bitcoin Cash, and Uniswap — all reflected profits on Friday.

“Updates from the ETF market have fuelled this growth of Bitcoin beyond the key psychological level of $45,000 (roughly Rs. 37.3 lakh). On Thursday, Fidelity Wise Origin Bitcoin (FBTC) saw a net inflow of close to $130.1 million. Notably, Ishares Bitcoin Trust (IBIT) saw a total volume of $478.5 million (roughly Rs. 3,972 crore) on the same day. Moreover, increasing inflows in the ETF market played a pivotal role in this positive market trend. The accessibility of ETFs is widening the investor base for Bitcoin,” Raj Karkara, COO, ZebPay told Gadgets360.

The overall valuation of the crypto sector spiked by 3.08 percent in the last 24 hours to presently claim the capitalisation of $1.76 trillion (roughly Rs. 1,46,11,572 crore) as per CoinMarketCap.

Small losses were registered by Chainlink, Braintrust, and Doge Killer.

At large, the investor sentiment saw a rapid uptick as the Crypto Fear & Greed Index jumped to a score of 72, again, hitting its highest point since the launch of spot BTC ETFs on January 11.

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, Ether See Losses as US Decides to Maintain Unchanged Interest Rates

The crypto price chart mostly reflected losses on Thursday, February 1. Bitcoin saw a loss of 2.28 percent, pushing its price below its recently re-claimed price point of $42,400 (roughly Rs. 35 lakh). At the time of writing, BTC was trading at $42,020 (roughly Rs. 34.8 lakh). Commenting on the situation, the CoinDCX team told Gadgets360 that over the past 24 hours, the crypto market experienced a shift from positive to slightly bearish conditions, triggered by the Federal Reserve’s decision to maintain unchanged interest rates.

Ether followed suit and tailed behind Bitcoin. Registering a loss of 3.78 percent, Ether value currently stands at $2,258 (roughly Rs. 1.87 lakh).

“BTC, positioned within its range, is currently situated in the middle, with the rising dominance of BTC causing declines in most of the altcoins. ETH reflects a parallel situation, trading within its established range. Additionally, the market sentiment is influenced by the regular movement of funds through ETFs, contributing to the overall market dynamics,” said the CoinDCX report.

Most cryptocurrencies showed losses on Thursday. These include Cardano, Avalanche, Dogecoin, Polkadot, Chainlink, and Polygon.

Other cryptocurrencies that showed price dips include Binance Coin, Solana, Ripple, Tether, USD Coin, and Leo.

“The Fed’s decision to maintain interest rates dealt a blow to predictions of cuts, impacting Bitcoin’s value. The next catalyst could be an increased demand with less supply due to BTC ETF access which could cause a price surge. Technical indicators for Bitcoin present a mixed picture. Moving averages signal a ‘buy’, while the Ichimoku Base Line remains neutral,” Rajagopal Menon, Vice President, WazirX told Gadgets360.

The overall crypto market valuation dropped notably by 8.35 percent in the last 24 hours. The overall crypto market cap stands at $1.51 trillion (roughly Rs. 1,25,30,410 crore), as per CoinMarketCap.

Tron, Monero, Iota, Braintrust, and Dogefi meanwhile, managed to reflect small gains.

“Another big news came for the bankrupt exchange FTX where in a court hearing FTX’s lawyer said that they expect FTX customers to be paid in full, which largely means if a customer held 1 BTC when its price was around $16,000 (roughly Rs 13.2 lakh), they will get the full $16,000 back and not 1 BTC. However, they feel it’s unlikely the exchange will restart operations. This news came in as crypto lender Celsius has emerged from its bankruptcy and will start distributing over 3 billion dollars of assets to its creditors,” CoinSwitch Markets Desk 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 Re-Touches $42,000 Mark After Brief Slump, Most Altcoins Reflect Volatility

Bitcoin on Monday, January 29, stepped into the trading rink at the price point of $42,175 (roughly Rs. 35 lakh). After a dull week, the asset has reclaimed its pricing above the mark of $42,000 (roughly Rs. 34.9 lakh) despite reflecting a loss of 0.50 percent on Monday. Over the last week, the value of Bitcoin has risen by $2,254 (roughly Rs. 1.87 lakh). As per market analysts, investors can expect Bitcoin to touch the $45,000 (roughly Rs. 37.4 lakh) level if the current momentum sustains and there are no surprising news headlines.

Ether recorded a loss of 1.18 percent to trade at the value of $2,259 (roughly Rs. 1.87 lakh).

“BTC has also successfully reclaimed both the 20 Exponential Moving Average (EMA) Daily and 7EMA Weekly, showcasing a highly bullish last weekly close and implying overall bullishness. ETH, however, closed on a bearish note and is still positioned below the 20EMA Daily. Currently, the key support and resistance levels for ETH are at $2,175 (roughly Rs. 1.80 lakh) and $2,388 (roughly Rs. 1.98 lakh), respectively,” the CoinDCX Research Team told Gadgets360.

Alongside the top two crypto assets by market cap, a big number of cryptocurrencies recorded losses on Monday. These include Ripple, Cardano, Avalanche, Polygon, Shiba Inu, Litecoin, and Bitcoin Cash.

Comos, Stellar, Near Protocol, Cronos, and Bitcoin SV also showed price dips.

The overall crypto sector dipped by 0.83 percent in the last 24 hours. At present, the sector valuation stands at $1.62 trillion (roughly Rs. 1,34,68,388 crore), showed CoinMarketCap.

“A 31.9 percent increase in trading volumes in the last 24 hours as the market exudes bullish sentiment. Bitcoin’s dominance is back at 50.58 percent which is driving the broader market sentiment with its price surge. Crypto enthusiasts are predicting a $2 trillion market cap for crypto, similar to its early 2022 levels, largely due to the conclusion of Bitcoin’s price correction phase, increase in institutional investments, Ethereum network upgrade and a potential spot ETF approval for the token,” Rajagopal Menon, Vice President, WazirX told Gadgets360.

Meanwhile, USD Coin, Tron, Polkadot, Chainlink, Leo, Uniswap, and Monero reflected small profits on Monday.

“Solana has gotten a strong start in 2024. While earlier in January, the SOL network witnessed its highest transaction volumes in over a year, the network recorded its highest-ever level of daily new addresses over the weekend. Other cryptos posting gains in the last 24 hours also include Injective (INJ, nine percent), Polkadot (DOT,+3.2 percent), and Chainlink (+2.7 percent),” Parth Chaturvedi, Investments Lead, CoinSwitch Ventures told Gadgets360.

Investors are keeping a close watch on the FOMC meeting scheduled for the 30th and 31st of this month.

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 Stays Unchanged Despite Small Gain, Profits Return to Crypto Chart

Bitcoin on Thursday, January 25 recorded a miniscule gain of 0.50 percent. Despite this development, Bitcoin did not see a big change in its price. At the time of writing, the value of BTC stood at $39,921 (roughly Rs. 33 lakh). The asset did grow in value by $271 (roughly Rs. 22,527) in the last 24 hours. While this might indicate that bulls are not willing to step in at this price point, it might also be the case that taking the Bitcoin’s price further down will not be easy for the bears as well, the CoinSwitch markets desk told Gadgets360.

Solana, Ripple, Cardano, Avalanche, Tron, and Polkadot — all recorded small gains alongside Bitcoin on Thursday.

They were also joined by Shiba Inu, Litecoin, Bitcoin Cash, Leo, Cosmos, Uniswap, Stellar, Monero, Near Protocol, and Cronos.

“Notably, Solana’s SOL and Avalanche’s AVAX surpassed expectations, registering gains of about 8.5 percent and 11.5 percent, respectively, spearheading the broader market’s upward trajectory,” Rajagopal Menon, Vice President, WazirX told Gadgets360.

Ether failed to join Bitcoin on the profit-making side of the crypto price chart. The SEC managed to delay the approval of BlackRock’s spot Ethereum ETF, for now, which has emerged as a contributing factor to the somewhat bearish sentiment hovering over ETH at the moment.

Tether, Binance Coin, USD Coin, Chainlink, and Bitcoin SV joined Ether on the loss-making side of the crypto price chart.

The overall valuation of the crypto market cap rose by 0.38 percent in the last 24 hours. Its valuation presently stands at $1.55 trillion (roughly Rs. 1,28,85,537 crore) as per CoinMarketCap.

“The overall crypto market cap jumped to the $1.55 trillion mark with BTC showing a marginal increase in its value from the previous day. Altcoins are showing a strong positive trajectory but it’s not enough to lift the market sentiment. The US Fed should start cutting the interest rates soon to boost market liquidity and spark economic activity across sectors,” Shivam Thakral, CEO of BuyUcoin 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, ETH Remain Under Loss-Spell, Most Altcoins Register Dips

Bitcoin logged a loss of 1.06 percent on Wednesday, January 24. At the time of writing, the oldest asset of the crypto sector was trading at the price point of $39,650 (roughly Rs. 32.9 lakh). In the last 24 hours, Bitcoin has slipped by $170 (roughly Rs. 14,134). As per market analysts, the crypto market continues to witness selling pressure as Bitcoin ETFs have made entry and exit into the investment vehicle very easy.

Ether dropped by 5.38 percent in the last 24 hours. The asset is currently trading at $2,213 (roughly Rs. 1.84 lakh).

“Users may have liquidated their positions to book profits and created new positions anticipating the next rally. Bitcoin and Ether registered notable drops today, which resulted in a drop in the overall crypto market cap. The next market mover can be the rate cut announcement by the US Fed which it signalled at the end of 2023,” Shivam Thakral, CEO of BuyUcoin told Gadgets360.

Just like the market trend has shown so far this week, most cryptocurrencies are trading in the reds on Wednesday.

Binance Coin, Cardano, Solana, Ripple, Avalanche, Tron, Polkadot — all of these cryptocurrencies saw losses.

Chainlink, Polygon, Shiba Inu, Litecoin, and Bitcoin Cash also succumbed to the market pressure and tumbled.

The overall crypto market cap reduced by 1.92 percent and currently stands at $1.55 trillion (roughly Rs. 1,28,87,885 crore), as per CoinMarketCap.

A small number of cryptocurrencies, however, did manage to log profits. These include USD Coin, Leo, Bitcoin SV, Iota, and Augur.

“While investors are turning fearful for the Bitcoin support to not hold with more than 300 million dollars’ worth liquidations in the last 24 hours as per the data from Coinglass, a U-shaped recovery to take Bitcoin back to nearing $50,000 (roughly Rs. 41.5 lakh) is still a possibility,” the CoinSwitch Markets Desk 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 Falls Below $40,000, Small Gains Seen by Tether, USD Coin

Bitcoin on Tuesday, January 23 reflected a loss of 3.63 percent. With this, the value of Bitcoin has dropped to $39,820 (roughly Rs. 33 lakh). This is the first time in the last two months that Bitcoin has dropped below the mark of $40,000 (roughly Rs. 33 lakh). In the last 24 hours, Bitcoin’s price reduced by $1,175 (roughly Rs. 97, 635). Most cryptocurrencies followed Bitcoin on the loss-making side of the price chart.

Ether clocked a loss of 4.04 percent on Tuesday. At the time of writing, ETH was trading at $2,336 (roughly Rs. 1.94 lakh). Ether price, in the last 24 hours, reduced by $81 (roughly Rs. 6,730).

“BTC slumped below the $40,000 (roughly Rs. 33 lakh) mark for the first time in 50 days as the Bulls failed to hold the support line. New investors who had put a big amount of money during the spot ETF announcement are now sitting at almost a 25 percent loss. Altcoins too slumped deep red during the late hours of US Monday trading hours as fears of ETH dropping below the $2,000 (roughly Rs. 1.66 lakh) mark rose in the markets again. The trigger of this was the Ethereum Foundation selling off 700 ETH for around $2,400 (roughly Rs. 1.99 lakh) per ETH. Usually, such sell-offs by token foundations mark a local top which could very well be the case before the Bitcoin halving trigger,” the CoinSwitch markets desk told Gadgets360.

Cardano, Solana, Ripple, Avalanche, Tron, and Polkadot — all registered price dips on Tuesday.

Other loss-making altcoins include Leo, Uniswap, Litecoin, Leo, Iota, and Qtum.

The overall market cap dropped by 2.13 percent in the last 24 hours. At the time of writing, the crypto market valuation stands at $1.58 trillion (roughly Rs. 1,31,31,214 crore), as per CoinMarketCap.

Only a small number of cryptocurrencies managed to reel-in profits on Tuesday. These include Tether, USD Coin, Iota, Cartesi, and Bitcoin Hedge.

“The crypto market is witnessing a healthy pullback after a massive bull run. We may see a more stable Bitcoin as ETFs grow their AUM and drive mass adoption of the world’s largest digital asset. Top Trader Henrik Zeberg shared a new Bitcoin price prediction of $120,000 (roughly Rs. 99.7 lakh) but we will have to wait and see how the market moves in the coming weeks,” Shivam Thakral, CEO of BuyUcoin 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: Losses Hit Bitcoin, Ether, Most Altcoins Follow

This entire week, Bitcoin and Ether continued to trade under a loss-spell. On Friday, January 19, Bitcoin showed a loss of 3.77 percent on Gadgets 360’s crypto price tracker. Its value, at the time of writing, stood at $41,005 (roughly Rs. 34.09 lakh). This is Bitcoin’s lowest value in the recent weeks. Over the last 24 hours, the value of Bitcoin has reduced by $1,540 (roughly Rs. 1.28 lakh). Market analysts have also acknowledged that the crypto market is witnessing an unexpected downward trend.

“Bitcoin faces selling pressure due to heavy outflows from Exchange Traded Products (ETPs) to new spot ETF issuers. For example, Blackrock’s Bitcoin ETF has accumulated a billion-dollar worth of Bitcoin in just one week, which means there is a heavy outflow of Bitcoin to such regulated ETFs. We can expect the Bitcoin price to rise once this transition cools down and investors are done with profit booking,” Shivam Thakral, CEO of BuyUcoin told Gadgets360.

Ether registered a value drop of 2.95 percent on Friday. At the time of writing, Ether was trading at the price point of $2,456 (roughly Rs. 2.04 lakh). In the last 24 hours, the value of ETH dropped by $66 (roughly Rs. 5,487).

Solana, Ripple, Uniswap, Tether, and Cardano — all emerged on the loss-making side of the crypto chart.

Avalanche, Dogecoin, Tron, and Polkadot alongside USD Coin, Leo, Near Protocol, and Iota also registered losses.

“The top 30 cryptos by market cap are currently trading in the red. We can expect some volatility in BTC’s price for some time. However, the ETF inflows and Assets under Management (AUM) continue to see healthy numbers. The newly launched spot BTC ETFs already have nearly $30 billion (roughly Rs. 2,49,412 crore) in AUM as compared to $11 billion (roughly Rs. 91,451 crore) for Silver ETFs,” Parth Chaturvedi, Investments Lead, CoinSwitch Ventures told Gadgets360.

The overall market capitalisation of the crypto sector tumbled by 3.25 percent in the last 24 hours. As of Friday, the valuation of the sector stands at $1.62 trillion (roughly Rs. 1,34,68,056 crore), as per CoinMarketCap.

A small number of cryptocurrencies managed to record miniscule gains on Friday. These include — Iota, Braintrust, Binance USD, and Dogefi.

In a major DeFi development, CoinMarketCap data suggests that dYdX (-8.5 percent) recently topped Uniswap’s markets to become the largest DEX by daily trading volume. The decentralised exchange has recently migrated from Ethereum to Cosmos and saw a volume of $757 million (roughly Rs. 6,293 crore) of volume over 24 hours.

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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