Crypto Price Today: Bitcoin, Ether Tumble in Pricing, Underdog Cryptocurrencies Iota, Cartesi Mint Small Gains

BTC, that was trading at $45,201 (roughly Rs. 27.6 lakh) just 24 hours ago, has slipped to the price point of $43,070 (roughly Rs. 35.8 lakh).

Written by Radhika Parashar, Edited by Siddharth Suvarna | Updated: 4 January 2024 11:29 IST

Crypto Price Today: Bitcoin, Ether Tumble in Pricing, Underdog Cryptocurrencies Iota, Cartesi Mint Small Gains

Photo Credit: Pexels

The crypto market cap, as of December 4, stands at $1.65 trillion

Highlights

Solana, Cardano saw losses
Polygon, Chainlink also dipped in losses
Cartesi, Dogefi recorded small gains

Bitcoin on Thursday, January 4 recorded a notable loss of five percent. The crypto asset that was trading at $45,201 (roughly Rs. 27.6 lakh) just 24 hours ago, has slipped to the price point of $43,070 (roughly Rs. 35.8 lakh). This slippage was observed after a report by crypto financial services firm Matrixport anticipated the rejection of Bitcoin spot EFT proposals by the SEC in the US. Market analysts predict this volatility to prevail for some days to come, at least unless the SEC takes a concrete decision about approving ETFs.

"The Matrixport report induced panic among some market participants, leading to selloffs. Despite plummeting to a low below $41,500 (roughly Rs. 35.8 lakh), Bitcoin swiftly recovered and is presently trading around the $43,000 (roughly Rs. 35.8 lakh) mark. Bitcoin's current support is situated at the $43,150 (roughly Rs. 35.9 lakh) level, with resistance at the $43,600 (roughly Rs. 36.3 lakh) level,” Edul Patel, CEO of Mudrex told Gadgets360.

Ether followed BTC on the loss trail with a price slash of 5.92 percent. At the time of writing, Ether was trading at $2,227 (roughly Rs. 1.8 lakh). In the last 24 hours, the value of ETH has deducted by $139 (roughly Rs. 11,580).

OpenSea’s Top Traded NFTs are Inspired by an Older Mickey Mouse: Details

On Thursday, majority altcoins registered losses. These include Tether, Ripple, Solana, Cardano, Avalanche, and Dogecoin.

Other loss-making cryptocurrencies include Polkadot, Polygon, Chainlink, and Shiba Inu among others.

“This sudden decline in BTC triggered a more than 20 percent drop in Altcoins within minutes, although some recovered swiftly, like ARB and LDO. The cause of this decline remains uncertain, with some speculating about a report on BTC spot ETF denial from Matrixport, although this information may not be true,” the CoinDCX Research Team told Gadgets360.

India Strict about Overseeing, Automating Tax Work Around Crypto: KoinX

The overall crypto market cap dropped by 4.91 percent in the last 24 hours. At the time of writing, the crypto sector valuation stands at $1.65 trillion (roughly Rs. 1,37,45,283 crore), showed CoinMarketCap.

Meanwhile, a small number of underdog crypto assets managed to mint small gains. These include Leo, Iota, Cartesi, Dogefi, and Bitcoin Hedge.

“Standout performers of the day remained in the famous L2 Arbitrum, ARB (+ three percent), and liquid staking solution Lido Finance, LDO (+ eight percent). While the total liquidations of yesterday remained at more than half a billion dollars, total crypto exchange volumes crossed the mark of one trillion dollars after two years, which shows that big money has started to flow back into the crypto market,” the CoinSwitch market desk added.

Is the Samsung Galaxy Z Flip 5 the best foldable phone you can buy in India right now? We discuss the company's new clamshell-style foldable handset on the latest episode of Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

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.

Affiliate links may be automatically generated - see our ethics statement for details.

Cryptocurrency Prices across Indian exchanges

Comments

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.

Further reading: Cryptocurrency, Bitcoin, Ether, Qutm, Wrapped Bitcoin, Zcash, Tether, USD Coin, Ripple, Binance USD, Binance Coin, Cardano, Polygon, Solana, Polkadot, Dogecoin, Shiba Inu, Litecoin, Uniswap, Tron, Monero, Dash, Bitcoin Cash, Flex, Cartesi, Braintrust, Kishu Inu, Circuits of Value

Radhika Parashar

Email Radhika

Radhika Parashar is a senior correspondent for Gadgets 360. She has been reporting on tech and telecom for the last three years now and will be focussing on writing about all things crypto. Besides this, she is a major sitcom nerd and often replies in Chandler Bing and Michael Scott references. For tips or queries you could reach out to her at RadhikaP@ndtv.com. More