Cryptocurrency Prices Today: Bitcoin Surges Above $69,000 on Global Exchanges; Altcoins Show Mixed Performance

On Monday, July 29, Bitcoin registered a profit of 3.16% to trade at $69,535 (roughly Rs. 58 lakh) on international exchanges like CoinMarketCap. On domestic exchanges like CoinSwitch, Bitcoin registered a profit of over 3% to trade at $72,680 (roughly Rs. 60 lakh). The overall cryptocurrency market is witnessing a price recovery after going through a correction period in the last few days.

“Bitcoin is currently enjoying positive momentum driven by former President Trump’s announcement to establish Bitcoin as a US strategic asset at Bitcoin 2024 in Nashville. This development has not only boosted Bitcoin’s supply dynamics but also highlighted its potential role in the global financial landscape,” Shivam Thakral, CEO of BuyUcoin, told Gadgets360.

Ether joined Bitcoin on the profit side of the crypto chart. With a gain of almost two percent, ETH is currently trading at $2,986 (roughly Rs. 2.5 lakh).

“Compared to other altcoins, Ethereum traded flat after seeing net outflows from its spot ETF funds for three consecutive days (July 24-26) last week,” Vikram Subburaj, CEO of Giottus, told Gadgets360.

Solana, Dogecoin, avalanche, Peas, Chain linkAnd Close protocol also saw gains alongside BTC and ETH.

Leo, Polygon, Cosmos, Chronos, Bitcoin SVAnd ZCash also showed gains.

“The global cryptocurrency market reflects this enthusiasm, with a market capitalization of $2.47 trillion (roughly Rs. 2,06,81,927 crore). This surge in interest underscores the growing confidence among investors and the broader crypto community,” Shivam Thakral, CEO of BuyUcoin, told Gadgets360. CoinMarketCapThe cryptocurrency market cap has increased by 3.23% in the last 24 hours. BTC and ETH’s market dominance now stands at 55.5% and 16.3%, respectively.

Cryptocurrencies that saw losses on Monday include Attached, Ripple, Cardan, Tron, Shiba Inu, Bitcoin CashAnd Litecoin.

Stellar, CartesiAnd Thinking group also recorded minor losses.

Separately, U.S. Senator Cynthia Lummis has introduced a proposal for the U.S. government to purchase one million bitcoins as part of a strategy to reduce the national debt. Lummis argues that bitcoin’s long-term potential as a growth asset could provide a substantial financial benefit to the country over time. Meanwhile, MicroStrategy co-founder Michael Saylor has also predicted healthy growth for bitcoin in the coming years, an observation that has contributed to bitcoin’s current surge.

“Saylor predicts that Bitcoin will account for 7% of global wealth, with the potential to reach a value of $13 million (roughly Rs. 108 crore) per coin in the next 21 years. He attributes this anticipated growth to Bitcoin’s inherent scarcity and its growing adoption as a preferred store of value,” CoinSwitch’s markets desk told Gadgets360.

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