Bitcoin Price Hovers Under $67,000 on Global Exchanges, Altcoin Values Rise After Price Correction Period

Several cryptocurrencies saw their prices rise on the crypto price chart on Friday, including the world’s most widely used digital assets — Bitcoin and Ether. Bitcoin price rose by 4.33 percent over the last 24 hours to trade at $66,945 (roughly Rs. 56 lakh) on international exchanges like CoinMarketCap. The value of BTC on Indian exchanges is still fluctuating in the aftermath of the WazirX hack. At the time of writing, Bitcoin was priced between the range of $53,785 (roughly Rs. 45 lakh) and $71,800 (roughly Rs. 60 lakh) on Indian exchanges.

“BTC has rebounded strongly from its weekly losses, driven by positive momentum and the kick-off of a Bitcoin conference yesterday. The asset is now consolidating within an ascending channel. This suggests that its upward trend remains intact, and investor profitability is currently positive,” Vikram Subburaj, CEO, Giottus told Gadgets360.

Ether also rose by 2.08 percent during the same period. At the time of writing, ETH was trading at $3,247 (roughly Rs. 2.71 lakh) on international exchanges. In India, Ether’s price varies within the range of $2,554 (roughly Rs. 2.12 lakh) and $3,540 (roughly Rs. 2.96 lakh).

“Substantial outflows from the Grayscale Ethereum Trust (ETHE) have caused ETH to trade lowly despite small gains. Investors are increasingly worried about regulatory scrutiny and unfavourable market conditions, leading to a noticeable shift in sentiment,” the CoinSwitch Markets Desk told Gadgets360.

Binance Coin, Solana, Ripple, Dogecoin, Cardano, and Avalanche increased in value.

Shiba Inu, Polkadot, Chainlink, and Litecoin prices rose alongside Bitcoin and Ether, but Qtum, Status, Circuits of Value, and Near Protocol prices fell on Friday.

“Bitcoin has traded sideways, while other altcoins are down significantly. Solana and its ecosystem tokens remain strong. Volatility is expected to remain high with today’s PCE Price Index data announcement,” the CoinDCX markets team told Gadgets360. “China’s surprise rate cut and the steepening of the US Treasury yield curve signalled panic,” Avinash Shekhar, Co-founder and CEO, Pi42 told Gadgets360.

The overall crypto market cap rose by 3.27 percent over the last 24 hours. With this, the crypto market cap has come to $2.39 trillion (roughly Rs. 2,00,099 crore).

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