The cryptocurrency market experienced a downward trend on Friday, with Bitcoin and Ethereum leading the losses. Bitcoin saw a 1.23% decline on international exchanges, trading at $104,002 (roughly ₹90.1 lakh), according to CoinMarketCap. Meanwhile, on Indian exchanges like BuyUcoin, Bitcoin dropped by less than 2%, reaching $105,486 (roughly ₹91.4 lakh).
Market analysts anticipate continued volatility in the coming days, with price movements dependent on investor sentiment and market liquidity.
Bitcoin & Ethereum Price Performance
📉 Bitcoin (BTC) Price Movement:
✔ Intraday High: $104,782 (₹90.8 lakh)
✔ Current Price: $104,002 (₹90.1 lakh)
✔ Drop: 1.23% in 24 hours
✔ Reason: $15 million (₹130 crore) in short liquidations in the futures market
✔ Outlook: Market needs increased spot buying to sustain a bullish trend.
📉 Ethereum (ETH) Price Movement:
✔ Current Price (Global): $3,224 (₹2.79 lakh)
✔ Current Price (India): $3,357 (₹2.91 lakh)
✔ Drop: 1.03% globally, 2.18% in India
✔ Resistance Level: $3,500 (₹3.03 lakh)
✔ Challenges: Decreasing Layer-2 activity & competition from other blockchains
✔ Potential Growth Factors: The upcoming Pectra upgrade and possible regulation of Ethereum ETFs could boost ETH prices.
Other Cryptocurrencies Affected
🟥 Crypto Assets That Declined:
🔻 Ripple (XRP)
🔻 Solana (SOL)
🔻 Binance Coin (BNB)
🔻 Dogecoin (DOGE)
🔻 Cardano (ADA)
🔻 Chainlink (LINK)
🔻 Leo, Uniswap, Cronos, EOS Coin, and Bitcoin SV
🟩 Crypto Assets That Gained Value:
🟢 Tether (USDT)
🟢 USD Coin (USDC)
🟢 Tron (TRX)
🟢 Avalanche (AVAX)
🟢 Stellar (XLM)
🟢 Shiba Inu (SHIB), Litecoin (LTC), Polkadot (DOT), Near Protocol (NEAR), and Monero (XMR)
Crypto Market Cap & Investor Sentiment
📊 Overall Market Cap:
- Fell by 0.51% in the last 24 hours
- Total valuation: $3.54 trillion (₹3,06,79,844 crore)
- BTC dominance: 58.28% of total market
📌 Global Sentiment:
- Crypto markets are in a consolidation phase as traders wait for the end of the monthly trade cycle.
- While countries like the US, Argentina, and the Czech Republic are embracing Bitcoin, the European Central Bank President opposes crypto inclusion in central bank reserves.
What’s Next for Crypto?
🔹 Altcoin Rally Incoming?
- Analysts are closely watching the ETH/BTC pair holding steady at the 0.03 mark.
- If this level is not breached, a major altcoin rally could occur soon.
🔹 Investor Advisory:
- Market volatility remains high, requiring careful investment decisions.
- Long-term investors are advised to stay patient and monitor key resistance levels.
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.
