Bitcoin’s price rose to $111,000 (roughly Rs. 97.3 lakh) on Friday, climbing more than 2 percent over the last 24 hours as overall market sentiment turned positive. Traders appeared optimistic ahead of the US CPI report, which could influence expectations of further Federal Reserve rate cuts. Ethereum also strengthened, hovering near $3,900 (roughly Rs. 3.48 lakh) after posting a 3.5 percent gain. According to the Gadgets 360 price tracker, Bitcoin is trading at around Rs. 97.4 lakh, while Ethereum is priced at Rs. 3.47 lakh on major Indian exchanges.
Altcoins Record Broad Gains as Traders Await Macroeconomic Developments
In lockstep with Bitcoin’s upward momentum and improved investor sentiment, most altcoins saw their values increase on Friday. Binance Coin (BNB) traded around $1,113 (roughly Rs. 97,660), XRP hovered at $2.44 (roughly Rs. 214), Solana (SOL) rose to $193 (roughly Rs. 16,980), and Dogecoin (DOGE) stood near $0.19 (roughly Rs. 17.34). The overall crypto market capitalisation crossed $3.7 trillion (roughly Rs. 3,24,50,000 crore), reflecting renewed confidence among traders.
According to the CoinSwitch Markets Desk, Bitcoin briefly crossed the $111,000 (roughly Rs. 97.4 lakh) level, rising 2.1 percent in the past day as optimism returned to the market. “The broader crypto market recorded slight upside as sentiment improved with news of an upcoming US-China presidential meeting, adding optimism during a period of trade uncertainty,” the desk said.
Mudrex CEO Edul Patel said the crypto market is showing renewed momentum ahead of the US inflation print. “Expectations around Quantitative Easing by the Fed have also created a favourable environment for crypto. If CPI data comes in softer than expected, Bitcoin could break above the $113,600 (roughly Rs. 99.6 lakh) resistance, making way for further gains, while support is seen near $107,200 (roughly Rs. 94 lakh),” Patel said.
The CoinDCX Research Team noted that Bitcoin’s recovery above the pivotal resistance at $110,000 (roughly Rs. 96.6 lakh) helped lift market sentiment, though fear persists. “The top gainers for the day include World Liberty Financial with over a 13 percent rise, followed by Aster with 11.56 percent and Artificial SuperIntelligence Alliance & SPX6900 with over an 8 percent rise each. Besides, Tron and Flare fell by over 2 percent, while Story and MYX Finance dropped by over 1 percent each,” the team said.
The CoinSwitch Desk believes a breakout above $111,500 (roughly Rs. 97.8 lakh) could confirm a bullish reversal toward $114,000 (roughly Rs. 99.9 lakh), while any pullback below $109,000 (roughly Rs. 95.5 lakh) might delay momentum. Traders eyeing today’s CPI data and a possible US-China trade deal remain cautiously optimistic heading into the weekend.
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.
