Crypto Price Today: Bitcoin Currently Trading at $38,000, Altcoins Show Mixed Movement

In the last 24 hours, the value of Bitcoin has risen in value by $38 (roughly Rs. 3,165).

Written by Radhika Parashar, Edited by Siddharth Suvarna | Updated: 1 December 2023 11:49 IST

Crypto Price Today: Bitcoin Currently Trading at $38,000, Altcoins Show Mixed Movement

Photo Credit: Unsplash/ Kanchanara

The crypto market cap, as of December 1, stands at $1.44 trillion

Highlights

Binance Coin, Cardano saw losses
Avalanche, Chainlink saw gains
Shiba Inu, Uniswap recorded profits as well

Bitcoin on Friday, December 1 managed to see a small gain of 0.29 percent. The value of Bitcoin at the time of writing, stood at $37,904 (roughly Rs. 31 lakh). In the last 24 hours, the value of Bitcoin has risen in value by $38 (roughly Rs. 3,165). Explaining the market condition, Parth Chaturvedi, Investments Lead, CoinSwitch Ventures told Gadgets360 that the buying pressure on BTC continues to surpass the selling pressure, suggesting that investors' confidence is sustained and optimistic.

Ether minted a profit of 2.43 percent on Friday. With this, the value of Ether rose to $2,089 (roughly Rs. 1.74 lakh) in the last 24 hours.

“This uptick in value may be attributed to recent news of MicroStrategy (MSTR) acquiring nearly 16,130 BTC, worth around $608 million (roughly Rs. 5,064 crore) in November. This development has nurtured a positive sentiment among market participants, pushing prices upwards and creating a bullish market sentiment. Meanwhile, the US SEC has requested comments on Fidelity's spot Ether ETF application from the general public. Ethereum, on the other hand, is trading range bound between the $2,000 (roughly Rs. 1.66 lakh) and $2,100 (roughly Rs. 1.74 lakh) levels,” Edul Patel,Co-Founder & CEO, Mudrex told Gadgets360.

More Crypto Safeguards Needed to Prevent FTX Fallout Situation: FSB

Cryptocurrencies trading in the greens today alongside Bitcoin and Ether include Ripple, Solana, Dogecoin, Tron, Chainlink, Avalanche, and Polygon.

Small profits were also reflected by Polkadot, Shiba Inu, Leo, Uniswap, Cosmos, and Stellar.

The overall crypto market cap rose by 1.05 percent in the last 24 hours to stand on the mark of $1.44 trillion (roughly Rs. 1,19,97,259 crore), showed CoinMarketCap.

Philippines' SEC Is Set to Block Access to Binance Crypto Exchange

“The US SEC has requested comments on Fidelity's spot Ether ETF application from the general public. This development has nurtured a positive sentiment among market participants, pushing prices upwards and creating a bullish market sentiment,” Patel added.

A new JP Morgan research also shows that DeFi and NFT activity has also witnessed a revival in recent months after two years of slowdown.

Meanwhile, cryptocurrencies that were dealt with losses today include Binance Coin, Cardano, Litecoin, Cronos, and Binance USD.

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