Crypto Price Today: Bitcoin, Ether Prices Fluctuate as Biden vs. Trump Debate Ignores Mention of Crypto, Analyst Says

Bitcoin opened with a slight price decline on Friday, and the world’s most widely used crypto asset is currently trading at $61,637 (roughly Rs. 51.4 lakh) on international exchanges like CoinMarketCap, after suffering a 0.23% loss. On domestic exchanges like WazirX and CoinSwitch, however, BTC’s value was much higher at $66,863 (roughly Rs. 55.8 lakh). Macroeconomic factors have always played a vital role in defining the temperament of the crypto market globally. Despite the expectations of crypto investors, US President Joe Biden and Donald Trump did not mention cryptocurrencies during their televised debate on Thursday, leading to volatility on the crypto price charts and experts predicting further upheavals in the days to come.

“In a notable change, Bitcoin Investors posted gains as optimism grew ahead of the planned debate between Biden and Trump, with cryptocurrencies taking center stage. However, the lack of any mention of the cryptocurrency during the debate raised concerns about the potential impact on Bitcoin prices, which could dampen the sector’s enthusiasm. Bitcoin is rooted in oversold territory, indicating prolonged bearish sentiment. Market analysts predict that this stagnation phase could continue for a few more weeks,” Rajagopal Menon, vice president of WazirX, told Gadgets360.

In the same way, Ether suffered a slight decline in value of 0.09% on Friday. It is currently trading at $3,448 (roughly Rs. 2.87 lakh) on international exchanges and $3,701 (roughly Rs. 3.09 lakh) on domestic exchanges, according to Gadgets360 cryptocurrency price tracking.

“The upcoming launch of the Ethereum ETF on July 4 is seen as a potential game changer, with Ethereum price projections surpassing $5,000 (approximately Rs. 4.17 lakh),” Menon added.

Cryptocurrencies that managed to post minor gains on Friday include Binance Coin, Dogecoin, CardanAnd avalanche.

Solana managed to make profits of 6.24% on Friday, which is significantly higher than other cryptocurrencies. At the time of writing, Solana was trading at $145 (roughly Rs. 12,139).

“With VanEck’s first Solana ETF application, the SOL ecosystem saw collective growth and the number of traders increased by 30%. SOL could become the 3rd major crypto asset after BTC and ETH to have its ETF, thanks to its recent growth. Several Solana memecoins also generated gains. Some of these memories include BOME, which increased by 15 percent with an 80 percent increase in the number of traders, and WEN, which increased by 15.5 percent with a 25 percent increase in the number of traders” , said Ryan Lee, chief analyst at Bitget Research.

Meanwhile, cryptocurrencies that posted losses on Friday include Tron, Close protocol, The outsiderAnd Status.

According to CoinMarketCap, the valuation of the overall cryptocurrency market increased by 1.39% in the last 24 hours. The market capitalization of the cryptocurrency sector thus stands at $2.28 trillion (approximately Rs. 1,90,32,984 crore).

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