Cryptocurrency Price Today: Bitcoin Posts Minor Gains as Prices of Most Altcoins Plunge Amid Market Volatility

Bitcoin price on Friday rose 0.69 per cent, taking the value of the world’s most-used cryptocurrency to $68,600 (around Rs. 57 lakh) on international exchanges like CoinMarketCap. On domestic exchanges like WazirX and CoinDCX, the digital asset is trading at a slightly higher price of $71,930 (around Rs. 59.8 lakh). Bitcoin has been hovering around the same price range for over two weeks and market experts have predicted that if BTC fails to break the $68,800 (around Rs. 52.7 lakh) resistance point, it may enter a spiral of losses.

“BTC continues to fluctuate in the lower time frame. It needs to hold above $67,000 (around Rs. 55.7 lakh) to avoid a potential small decline. Alts are weaker versus BTC as the ETH/BTC pair is at a resistance level,” the CoinDCX market team told Gadgets360 on Friday.

Ether it posted a loss of 1.58% on Friday. The second most expensive asset after Bitcoin, Ether is trading at $3,951 (around Rs. 3.2 lakh) on Indian exchanges, while on foreign exchanges ETH is priced at $3,745 (around Rs. 3.11 lakh). “Analysts have mixed views on the impact of potentially low volumes, but Ethereum performance remains strong,” said Rajagopal Menon, vice president of WazirX.

Most cryptocurrencies saw their value fall on Friday, including Binance coin, Solana, Ripple, Cardano, Shiba Inu, AvalancheAND Polka dot.

Other altcoins that have seen their prices drop include Close to the protocol, Polygon, Uniswap, Cosmos, StellarAND Chrono.

The overall cryptocurrency market capitalization fell by 0.04% in the last 24 hours. Second CoinMarketCap.

Meanwhile, cryptocurrencies that have increased in value include Bind, Currency in USD, Dogemoneta, Chain shirt, LitecoinAND Leo.

“If the Fed decides to ease monetary policy in its next meeting, the cryptocurrency market could witness an upward trend,” Shivam Thakral, CEO of BuyUcoin, told Gadgets360.

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