Bitcoin on Monday, March 24 reflected a profit of 3.10 percent on international exchanges. Data by CoinMarketCap shows Bitcoin is presently trading at $86,700 (roughly Rs. 74.5 lakh) on global platforms. On Indian exchanges, the oldest and most expensive crypto asset saw a two percent price hike to trade within the range of $89,423 (roughly Rs. 76.8 lakh) and $90,375 (roughly Rs. 77.7 lakh). The overall crypto market continues to remain volatile, with altcoins trading sideways.
“Bitcoin continues to be in its consolidation phase. The leading crypto remains tightly bound below $86,000 (roughly Rs. 74 lakh) while holding firm above the $81,000 (roughly Rs. 70 lakh) support level. Market sentiment leans bullish, with 60.52 percent of Binance Futures traders currently in long positions, indicating expectations of an upside breakout,” the CoinSwitch markets desk told Gadgets 360.
Ether joined Bitcoin in clocking small gains over the weekend. On Monday, Ether price went up by 1.89 percent and five percent, on international and national exchanges respectively. On international exchanges, its price stands at $2,037 (roughly Rs. 1.75 lakh), whereas it’s valued at $2,110 (roughly Rs. 1.81 lakh) on Indian exchanges.
“Ethereum has been in a downtrend for the past three months. However, large investors have been steadily accumulating ETH. According to Glassnode, the number of wallets holding at least $100,000 (roughly Rs. 85.9 lakh) worth of Ether increased from around 70,000 on March 10 to over 75,000 by March 22. Overall, broader macroeconomic concerns continue to weigh on all markets including crypto. As a result, we could see sideways trading until April,” said Edul Patel, CEO and co-founder of Mudrex.
The crypto price tracker by Gadgets 360 showed Ripple, Solana, Leo, Avalanche, Stellar, and Shiba Inu to be trading in profits alongside BTC and ETH.
Monero, Cronos, EOS Coin, Elrond, Iota, and Polygon also registered minor gains on Monday.
The overall crypto market cap grew by 2.30 percent over the last 24 hours. The valuation of the sector currently stands at $2.83 trillion (roughly Rs. 2,43,12,944 crore), showed CoinMarketCap.
Binance Coin, Dogecoin, Cardano, Tron, Chainlink, and Litecoin, meanwhile, suffered losses.
Bitcoin Cash, Uniswap, Aave, Cosmos, Bitcoin SV, and Neo Coin also logged price dips.
“With liquidity rising and major assets at important technical levels, investors are watching intently for confirmation of the next significant move in Bitcoin and Ethereum, positioning for potential volatility and trend reversals to come,” Avinash Shekhar, Co-Founder and CEO, Pi42 told Gadgets 360.
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