Tag: zcash

Crypto Price Today: Bitcoin Price Falls Below $60,000, Dogecoin, Shiba Inu, Other Altcoins See Gains

The last few weeks have pushed Bitcoin under the price point of $60,000 (roughly Rs. 50 lakh) for the first time in two months. As of Friday, May 3, Bitcoin was trading at the price point of $57,690 (roughly Rs. 48 lakh) as per Indian exchanges. With a loss of around 0.15 percent, the value of Bitcoin on foreign exchanges stands at $59,790 (roughly Rs. 49.85 lakh). For the most part of this week, Bitcoin has found itself trading under losses after showing a major spike in April.

“This price drop suggests that there exists a buying activity at the lower level. Bitcoin has not yet recovered and gained enough strength to make a sharp move due to macroeconomic factors and geopolitical tensions, making sideways trading more likely. Resistance for Bitcoin is seen at $60,300 (roughly Rs. 50.2 lakh), with support at $58,800 (roughly Rs. 49 lakh),” Edul Patel, CEO of Mudrex told Gadgets360.

Ether, that has been showing a mixed price movement for days, found itself on the loss-side of the crypto chart on Friday. At the time of writing, ETH was priced $2,907 (roughly Rs. 2.42 lakh) after clocking a loss of 1.85 percent.

“Ethereum has witnessed a surge driven by strong spot Ethereum ETFs in Hong Kong and increased network activity. Ethereum’s next resistance levels are forecasted at $3,100 (roughly Rs. 2.58 lakh) and $3,300 (roughly Rs. 2.75 lakh),” Patel added.

Tether, Solana, Cosmos, and Braintrust joined Bitcoin and Ether on the loss-making side of the crypto chart.

Apart from these, majority altcoins are seeing minor but notable profits as of Friday. These include Ripple, Dogecoin, Cardano, Shiba Inu, and Avalanche.

Tron, Chainlink, Polygon, Near Protocol, Litecoin, Leo, Uniswap, and Cronos also registered profits on May 3.

In the last 24 hours, the overall valuation of the crypto market went up by 3.46 percent to hit $2.23 trillion (roughly Rs. 1,85,85,957 crore), as per CoinMarketCap.

“While spot BTC ETFs saw a combined outflow of $563 million (roughly Rs. 4,692 crore) on Wednesday, BlackRock predicts that there will be a new wave of inflows from different types of investors which will include sovereign wealth funds, pension funds, and endowments. The company expects a pent-up demand for BTC exposure via the ETFs,” Parth Chaturvedi, Investments Lead, CoinSwitch Ventures 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 Sinks to Two Month Low Pricing, Ether, Most Altcoins See Losses

The crypto price chart found itself drenched in losses on Wednesday, May 1. Bitcoin recorded a significant dip of 5.20 percent on Wednesday. With this, the price of the oldest cryptocurrency dropped to a two-month low of $60,170 (roughly Rs. 50.2 lakh) on Indian exchanges, showed the crypto price tracker by Gadgets360. As per foreign exchanges like CoinMarketCap, Bitcoin is trading at $60,099 (roughly Rs. 50.1 lakh). Bitcoin is down over 16 percent through April and once again retesting the crucial support zone.

Ether joined Bitcoin on the loss-making side of the crypto chart. Succumbing to a loss of 5.27 percent, the value of ETH presently stands at $3,004 (roughly Rs. 2.50 lakh), as per CoinMarketCap. Internationally, ETH is trading at $2,997 (roughly Rs. 2.50 lakh).

“While this move could be attributed to a pending technical correction, another catalyst of the same was the world’s largest crypto exchange Binance’s former CEO Changpeng Zhao getting his sentence announced yesterday,” the CoinSwitch Markets Desk told Gadgets 360.

Zhao has been given a sentence to serve jail time for four months. Last year, he pleaded guilty of enabling money laundering through Binance. Previously, Zhao had agreed to pay a fine of $50 million (roughly Rs. 417 crore).

“Many are hailing it as a positive development given Binance can now officially be free from the US regulators, barring the fine that they had paid. BNB token would be one of the cryptos that investors will keep a look out for, in the coming days or weeks,” the CoinSwitch team added.

Majority cryptocurrencies are trading in losses as of Wednesday. These include Solana, Ripple, Dogecoin, Cardano, Shiba Inu, and Avalanche.

“Shiba Inu’s volatility decreases, potentially signalling an upcoming rally. Despite limited price movements, recent trading patterns indicate investor accumulation, setting the stage for potential price action,” Rajagopal Menon, Vice President, WazirX told Gadgets360.

Polkadot, and Chainlink alongside Polygon, Near Protocol, Leo, and Litecoin are also reeling under losses.

In the last 24 hours, the overall crypto market cap dipped by 4.28 percent taking the sector valuation to $2.22 trillion (roughly Rs. 1,85,33,026 crore), as per CoinMarketCap.

Meanwhile, Tether, Leo, Cosmos, Iota, Dogefi, and Nano Dogecoin managed to retain gains on the crypto chart.

Market analysts, however, predict price growths for altcoins in the coming days.

“The launch of Bitcoin and Ethereum spot ETFs in Hong Kong will offer new opportunities for local and global investors. While Bitcoin resistance consolidates around $63,000 (roughly Rs. 52.5 lakh), ETFs’ launch could attract institutional interest, potentially igniting market activity,” Menon noted.

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 Above $61,000, Ether and Majority Altcoins See Losses Ahead of BTC Halving

The crypto chart mostly reflected losses on Friday, April 19. Bitcoin, for instance, is trading at $61,815 (roughly Rs. 51.6 lakh) having recorded a loss of 0.23 percent. This is Bitcoin’s trading value in India, as per the crypto price tracker by Gadgets360. On international exchanges like Binance, Bitcoin is trading at $62,160.14 (roughly Rs. 51.9 lakh). For most part of this week, Bitcoin has managed to remain under the shadow of volatility, ahead of its fourth halving event that is expected to take place between April 19 and April 21.

“Over the last few hours, $34.03 million in Bitcoin long positions have been liquidated. But the overall sentiment remains bullish as on-chain metrics show that over $1.7 billion worth of BTC have been accumulated by holders in the last few days. BTC’s current price point is acting as a temporary support,” Shivam Thakral, CEO of BuyUcoin told Gadgets360.

Ether clocked a loss of 0.45 percent on Friday. With this, the trading value of the asset hit $2,999 (roughly Rs. 2.50 lakh) on Gadgets360’s crypto price tracker. On Binance, ETH is trading at $ 3,075.52 (roughly Rs. 2.56 lakh).

Majority cryptocurrencies, as of Friday, are trading in the reds.

Solana, Cardano, Ripple, Shiba Inu, Avalanche, Tron, and Polkadot — all registered losses on Friday.

Polygon, Litecoin, and Uniswap also stayed on the loss-making side of the crypto chart.

In the midst of the ongoing crypto market volatility, the overall sector valuation stands at $2.26 trillion (roughly Rs. 1,88,78,119 crore), shows CoinMarketCap.

“Geopolitical unrest, with Isfahan airport explosions, heightens pressure. The upcoming halving event also exacerbates uncertainty. Ethereum-based altcoins, meanwhile, offer avenues for growth and innovation within cryptocurrency, especially in gaming and Web3 applications,” Rajagopal Menon, Vice President, WazirX told Gadgets360.

Near Protocol, Tether, Uniswap, and Chainlink managed to see small gains despite the ongoing volatility.

“Immutable X (IMX) rose by 2.5 percent in 24 hours and gained traction with partnerships and gaming adoption, fostering token demand. ApeCoin (APE) rose by 0.09 percent and displayed resilience, enhancing utility via governance proposals,” Menon noted.

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 Sees Minor Hike as Values of Several Altcoins Continue to Drop

Bitcoin’s price rose by 0.93 percent on Thursday ahead of the upcoming fourth Bitcoin halving process, raising the value of the currency to $66,615 (roughly Rs. 55.5 lakh), as per the crypto price tracker by Gadgets360. In the last 24 hours, the value of BTC rose by $468 (roughly Rs. 39,025). On international exchanges, meanwhile, BTC is trading at $70,530 (roughly Rs. 58.8 lakh).

“After a slight correction in prices, BTC has started to see strength again as the world’s number one crypto has found a new base close to $70,000 (roughly Rs. 58.3 lakh). It is yet to be seen, with just eight days remaining in Bitcoin halving, whether the heavy resistance zone at around $74,000 (roughly Rs. 61.7 lakh) gets finally breached before that or not,” the CoinSwitch markets desk said on Thursday.

Ether recorded a notable price hike of 5.35 percent in the last 24 hours, despite the market volatility. With this, the trading value of ETH has come to the mark of $3,355 (roughly Rs. 2.79 lakh) in India. Over the last day, Ether price has risen by $165 (roughly Rs. 13,758). On CoinMarketCap, Ether is trading at $3,560 (roughly Rs. 2.96 lakh).

“In the last 24 hours, the market experienced volatility following the announcement of higher-than-expected CPI data. This led to a brief dip in the crypto market. ETH continues to trade within a range, with the potential for an upward movement upon clearing the $3,650 (roughly Rs. 3.04 lakh) level,” the CoinDCX market desk told Gadgets360.

Tether, Binance Coin, Dogecoin, Avalanche, Leo, Cosmos, and Cronos emerged as other cryptocurrencies alongside BTC and ETH that saw their prices increase on Thursday.

However, other popular cryptocurrencies have dropped in value, thanks to the ongoing market volatility. Solana, Ripple, Cardano, Shiba Inu, and Polkadot found themselves on the loss-making side of the crypto chart.

The overall crypto market valuation currently sits atop the mark of $2.63 trillion (roughly Rs. 2,19,25,876 crore) and rose by 1.36 percent over the last 24 hours, according to CoinMarketCap.

“Increasing inflation has caused the interest rate futures to price in just two rate cuts in 2024 while this number was around six to eight cuts expected in the beginning of March. With interest rate not coming down, it becomes unlikely for people to keep investing in the risky asset classes like crypto,” the CoinDCX team told Gadgets360, advising investors to be cautious about making financial decisions.

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, Price Fluctuations Weigh Heavy for Most Altcoins

The crypto sector is undergoing a phase of volatility now that Bitcoin is approaching its fourth halving process later this month. Bitcoin on Wednesday, April 10 recorded a loss of 2.30 percent. With this, the value of Bitcoin has fallen to $66,147 (roughly Rs. 55 lakh) as per Gadgets360’s crypto price tracker. On international exchanges like Binance, Bitcoin is trading at a slightly higher price point of $69,058 (roughly Rs. 57.4 lakh).

“The market demand for Bitcoin seems slightly fazed amidst the ongoing price fluctuations. Bitcoin’s hull moving average indicates a ‘Sell’ sentiment reflecting the broader market pulse. The US CPI data is the next focal point for the market and could provide some insights into the rate cuts by the Fed. There is still ambiguity around rate cuts which is being anticipated in June,” Rajagopal Menon, Vice President, WazirX told Gadgets360.

Ether saw a bigger loss than Bitcoin on the price chart. On Wednesday, Ether recorded a loss of 3.28 percent to trade at the price point of $3,190 (roughly Rs. 2.65 lakh) in India. On Binance, Ether is trading at $3,514 (roughly Rs. 2.92 lakh).

“Ethereum supporters continue to struggle in their faith for an ETF amidst lack of updates from the SEC. Despite attempting to surpass the $3,650 (roughly Rs. 3.03 lakh) level, ETH encountered a fadeout. To regain bullish momentum, ETH needs to clear and sustain above this level,” the CoinDCX team told Gadgets360.

Tether, Binance Coin, Solana, Dogecoin, Cardano, Avalanche, Shiba Inu, and Polkadot — all followed BTC and ETH on the loss-trail.

Tron, Chainlink, Polygon, Litecoin, Uniswap, Leo, Cosmos, and Stellar also reflected losses on Wednesday.

“The biggest losers among the top cryptos remained memecoins, as WIF (-18 percent), PEPE (-12 percent), and DOGE (-7.4 percent) all continued to struggle as markets slumped. With the Solana network congested for almost a week now, the price action has also started to reflect this, with Solana prices trading below the $170 (roughly Rs. 12,145),” the CoinSwitch Markets Desk told Gadgets360.

Only a small number of altcoins managed to see profits on Wednesday. These include Ripple, Ripple Cash, Qtum, Iota, and Braintrust.

The overall crypto market dropped by 3.22 percent in the last 24 hours. The current valuation of the sector stands at $2.59 trillion (roughly Rs. 2,15,55,443 crore), as per CoinMarketCap.

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 Plunge Continues, Most Cryptocurrencies Hit by Losses

The crypto market volatility is only getting heated up by the day but is also spelling losses for majority altcoins on an almost regular basis. Bitcoin on Thursday, April 4 recorded a loss of 1.62 percent. This took its trading value to $64,354 (roughly Rs. 53.7 lakh). In the last 24 hours, the value of Bitcoin slipped by $1,134 (roughly Rs. 94,625). With Bitcoin’s next halving slated for later this month, market analysts have predicted volatility in the coming weeks.

“The largest cryptocurrency has reflected a slump in price momentum after experiencing negative net flows into the spot ETFs. The spot ETFs were the main reason for rallies during the first quarter of 2024. With just around two weeks left for halving, we can expect more volatility due to the favourable change in supply dynamics,” said Shivam Thakral, CEO of BuyUcoin, commenting on the market situation.

Ether saw a price drop of 2.15 percent on Thursday, April 4. At the time of writing, Ether was trading at $3,190 (roughly Rs. 2.66 lakh). Over the last 24 hours, the value of ETH had dropped by $72 (roughly Rs. 6,007).

“ETH like BTC also traded sideways in a smaller timeframe, with $3,200 (roughly Rs. 2.67 lakh) being a key level to hold. Tomorrow’s announcement of the US monthly unemployment rate may bring further volatility to the market,” the CoinDCX markets desk told Gadgets360.

Solana, Ripple, Dogecoin, Cardano, Avalanche, Shiba Inu, Bitcoin Cash, and Polkadot recorded losses alongside BTC and ETH.

Tron, Polygon, Litecoin, Near Protocol, Uniswap, Leo, and Cosmos also saw losses.

“While the possibility of a Fed rate cut in June has subdued gains, the consistent rise in stablecoin supply provides a strong reassurance to Bitcoin enthusiasts amid market fluctuations,” Rajagopal Menon, Vice President, WazirX told Gadgets360.

The overall crypto market cap dipped by 0.93 percent in the last 24 hours. It’s valuation currently stands at $2.47 trillion (roughly Rs. 2,06,14,496 crore), data by CoinMarketCap showed.

Meanwhile cryptocurrencies that recorded profits on Thursday included Binance Coin, USD Coin, Monero, and Bitcoin SV.

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Bitcoin, Ether Register Losses as Market Volatility Continues to Shadow Price Charts

The volatile element of the crypto sector is nowhere near its end as several cryptocurrencies are still struggling to find a stable price point to trade at. Bitcoin on Wednesday, April 3, reflected a loss of 0.33 percent. With this, its trading value has come to the mark of $65,448 (roughly Rs. 54.5 lakh). Over the last 24 hours, the value of BTC has reduced by $654 (roughly Rs. 54,546). This is the third consecutive day that the most expensive crypto asset has met with price dips.

“There have been a lot of negative sentiments and selling pressure surrounding Bitcoin since the beginning of this quarter. Firstly, the Fed announcements on Tuesday and now the plan of sale of 51,680.33 BTC from the Silk Road seizure, worth over $3.4 billion by the US government,” Shivam Thakral, CEO of BuyUcoin told Gadgets360.

Ether joined Bitcoin in registering losses on Wednesday. The asset is trading at the price point of $3,262 (roughly Rs. 2.72 lakh) after incurring a loss of 0.19 percent. Over the last day, ETH’s pricing has dropped by $8 (roughly Rs. 667).

With Bitcoin’s halving period approaching, the crypto market is experiencing volatility. Other macro-economic factors and developments in the industry are also adding pricing uncertainty for crypto assets at the time leaving many to face losses.

On Wednesday, USD Coin, Ripple, Cardano, Avalanche, and Polkadot — all reflected losses on the price chart.

Value drops have also been recorded by Uniswap, Leo, Cosmos, Cronos, and Stellar.

“The crypto market has undergone another session of correction, with many of the top 10 cryptos by market capitalisation trading in the red. Investor sentiment continues to remain bullish fuelled by the expectations of increasing institutional demand for spot BTC ETF and BTC halving. The market is most likely undergoing short-term correction due to BTC’s pre-halving retrace period. With investor sentiment at a high, we may see the crypto markets surge again,” the CoinSwitch market desk told Gadgets360.

The overall valuation of the crypto sector dipped by 0.61 percent in the last 24 hours. With this, the figure has dropped to $2.49 trillion (roughly Rs. 2,07,73,908 crore), showed CoinMarketCap.

Some cryptocurrencies that managed to see gains on Wednesday include Tether, Solana, Binance Coin, Dogecoin, and Shiba Inu.

Other profit-making altcoins include Bitcoin Cash, Chainlink, Tron, Litecoin, and Near Protocol.

Market analysts suggest investors to exercise caution before making investment decisions.

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 Slips Below Crucial $67,000 Level, Crypto Market Sees Bearish Turn in Last 24 Hours

The last 24 hours brought reductions in the prices of majority cryptocurrencies as the crypto market took what experts are calling a ‘bearish turn’. Bitcoin on Tuesday, April 2 showed a loss of 1.24 percent. With this, the value of the asset receded to $66,102 (roughly Rs. 55.1 lakh). Market analysts had been calling $67,000 (roughly Rs. 55.8 lakh) the crucial price point for BTC, beyond which the asset was expected to rise easily but now that BTC has dropped below this value, analysts fear BTC could tumble further below.

“In the last 24 hours, the market took a bearish turn. Bitcoin is currently trading below the 20 EMA D, indicating bearish sentiment. Attention will be on BTC ETF inflows and US macroeconomic announcements in the coming days,” the CoinDCX Research team told Gadgets360 commenting on the market situation.

Ether reflected a price dip of 3.71 percent on Tuesday. Its current trading value stands on the mark of $3,270 (roughly Rs. 2.72 lakh). In the last 24 hours, the value of ETH has reduced by $125 (roughly Rs. 10,420).

“ETH after making the recent high of $4,093 (roughly Rs. 3.41 lakh), witnessed a sharp correction and the prices fell almost by 25 percent. Traders remain immersed in speculation regarding the potential approval of a spot Ether ETF in May,” the ZebPay trade desk told Gadgets360.

Most cryptocurrencies are trading in losses on Tuesday alongside BTC and ETH. These include Binance Coin, Solana, Ripple, Dogecoin, Cardano, Avalanche, and Shiba Inu.

Other loss-making altcoins, as of Tuesday, include Polkadot, Tron, Chainlink, Polygon, Litecoin, Uniswap, and Near Protocol.

“The top 20 cryptos by market cap are currently trading in the red. As a result of the market performance in the last 24 hours, the crypto market has observed total liquidations of over $490 million (roughly Rs. 4,084 crore), including BTC’s $134.74 million (roughly Rs. 1,123 crore),” the CoinSwitch Markets Desk told Gadgets360.

The overall crypto market valuation dunked by 5.92 percent in the last 24 hours. The current crypto market cap stands at $2.52 trillion (roughly Rs. 2,10,07,274 crore), as per CoinMarketCap.

Stablecoins like Tether and USD Coin joined altcoins like Bitcoin Cash, Leo, Monero, and Iota managed to record minor gains on Tuesday.

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 Steps into April with Small Gains, Altcoins See Slight Relief from Volatility

The crypto sector underwent tremendous ups and downs in the month of March, with Bitcoin reaching an all-new high of over $73,000 (roughly 60.8 lakh). On Monday, April 1, Bitcoin recorded a minor gain of 1.35 percent to trade at $67,014 (roughly Rs. 55.8 lakh) in India. The most expensive asset on the crypto block, Bitcoin’s price did not see a significant change from its value last week as we step into April. On Binance, the asset is trading at a slightly higher price of $70,950.37 (roughly Rs. 59 lakh).

“Since last week, Bitcoin has been trying to break the $71,500 (roughly Rs. 59.6 lakh) resistance only to fall back to $70,000 level. It would be interesting to see how the Bitcoin price action unfolds this halving with just 22 days left roughly for the 4th Bitcoin halving,” Shivam Thakral, CEO of BuyUcoin told Gadgets360, commenting on Bitcoin’s trajectory.

Ether followed Bitcoin and registered small gains on April 1. At the time of writing, ETH was trading at $3,395 (roughly Rs. 2.83 lakh).

“While ETH is experiencing an overall positive price action, its liquid supply seems to be declining. As per Glassnode data, just 11 percent of ETH’s total supply is currently available for active trading, down from 15.8 percent same time last year. However, given the investor sentiment and whale accumulation pattern, this has only bolstered ETH’s price by over 50 percent since the beginning of 2024,” Parth Chaturvedi, Investments Lead, CoinSwitch Ventures told Gadgets360.

Most altcoins snapped out of the volatility phases over the weekend and settled on the profit-side of the crypto chart on Monday.

These include Solana, Ripple, USD Coin, Dogecoin, Avalanche, Polkadot, and Bitcoin Cash.

Small profits have also been registered by Tron, Polygon, Litecoin, Near Protocol, Cosmos, and Cronos.

“DOGE emerged as one of the biggest gainers in the last seven days with gains of over 25 percent, currently trading at $0.17 (roughly Rs. 14.52). Another dog-themed meme coin entered the meme coin big leagues over the weekend. Dogwifhat (WIF; +6.2 percent) has become the third-largest meme coin with over 60 percent in weekly gains,” Chaturvedi noted.

The overall crypto market cap went up by 0.48 percent in the last 24 hours. The valuation of the sector presently stands at $2.67 trillion (roughly Rs. 2,22,68,721 crore), as per CoinMarketCap.

While most altcoins are trading in gains on Monday, a notable number of cryptocurrencies also registered losses on Monday. These include Tether, Binance Coin, Cardano, Shiba Inu, Chainlink, and Uniswap.

The market analysts have alerted the investors to be cautious because overall, the crypto market continues to be on an extremely greedy streak.

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Bitcoin Hovers Over $67,000, Ether and Solana Manage to See Gains Despite Ongoing Slowdown

Bitcoin on Friday, March 29 saw a loss of 0.18 percent. The value of Bitcoin, at the time of writing stood at $67,034 (roughly Rs. 55.8 lakh). In the last 24 hours, the value of Bitcoin tumbled by $111 (roughly Rs. 9,250). Market experts believe that in the coming days, the most expensive asset could see its price consolidating at the mark of $70,400 (roughly Rs. 58.6 lakh). A bunch of cryptocurrencies followed Bitcoin on the loss-trail.

Tether, Binance Coin, USD Coin, Cardano, Bitcoin Cash, and Polygon followed Bitcoin on the loss-making side of the crypto chart on Friday.

“Both Bitcoin and Ethereum are expected to see some volatility with $15 billion (roughly Rs. 1,25,022 crore) worth of options set to expire. Overall, the market remains extremely greedy,” Edul Patel, CEO of Mudrex told Gadgets360.

Ether managed to see a miniscule gain of 0.86 percent as of Friday. The price of Ether currently stands at $3,390 (roughly Rs. 2.82 lakh).

Solana, Ripple, Dogecoin, Avalanche, Shiba Inu, and Polkadot managed to register minor gains.

The list was further joined by Tron, Near Protocol, Litecoin, Cronos, and Stellar.

“On the market front, most of the top 10 crypto assets by market cap managed to trade in the green in the last 24 hours, with DOGE (+9.4 percent) leading the gains. Technical analysis shows that DOGE’s performance could be attributed to a prolonged reversal,” Parth Chaturvedi, Investments Lead, CoinSwitch Ventures told Gadgets360.

The crypto market is currently witnessing the legal run-ins of several players across different geographical locations. Binance, Coinbase, and KuCoin are already under probe in Nigeria, Philippines, and the US over different issues.

In addition, Sam Bankman-Fried, the CEO of now defunct FTX exchange has been sentenced to 25 years in prison for multi-billion-dollar FTX fraud.

The overall crypto market cap rose by 0.58 percent in the last 24 hours. The valuation of the sector currently stands at $2.65 trillion (roughly Rs. 2,20,87,246 crore), as per CoinMarketCap.

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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