Bitcoin Price Remains Steady at $102,000 for Third Consecutive Day Amid Ongoing Crypto Market Volatility

The global crypto market is experiencing some volatility that has caused the price of many altcoins to fluctuate over the past couple of days. Over the last 24 hours, Bitcoin's value dropped by 2.76 percent on global exchanges, while the price of the digital asset remained stable around $102,000 (roughly Rs. 88.2 lakh) for the third consecutive day. According to CoinMarketCap, BTC is presently trading at $102,782 (roughly Rs. 88.8 lakh) on international exchanges. On Indian platforms, meanwhile, BTC incurred a loss of around three percent. The asset is trading at $103,020 (roughly Rs. 89 lakh) on national exchanges like BuyUcoin.

“After rallying to a new all-time high (ATH), Bitcoin is likely to be trading range-bound between $100,000 (roughly Rs. 86.4 lakh) and $109,000 (roughly Rs. 94.2 lakh) until the month end with investors looking towards the Federal Open Market Committee (FOMC) meeting outcome for direction. At present, BTC's major support stands at $101,300 (roughly Rs. 87.6 lakh) with the next resistance at $106,700 (roughly Rs. 92.2 lakh),” Edul Patel, CEO of Mudrex told Gadgets 360.

Ether's price also fell by 3.07 percent over the last day, and the asset was trading at $3,232 (roughly Rs. 2.79 lakh) on international exchanges. On national exchanges, ETH clocked a loss of around 3.90 percent to trade at $3,501 (roughly Rs. 3.02 lakh).

The crypto price tracker by Gadgets 360 showed most cryptocurrencies were down on Thursday, alongside BTC and ETH.

These include Dogecoin, Cardano, Avalanche, and Chainlink saw losses alongside Tether, Binance Coin.

Other digital assets that saw their values drop on Thursday included Shiba Inu, Polkadot, Bitcoin Cash, Near Protocol, and Cronos.

“The dip comes amid the absence of any Bitcoin-related statements from former US President Donald Trump. Altcoins are feeling the heat, with markets bleeding alongside Bitcoin's pullback,” the CoinSwitch Markets Desk told Gadgets 360, explaining the market slowdown.

The overall crypto market cap dropped by 2.57 percent over the last 24 hours. The present valuation of the crypto sector stands at $3.55 trillion (roughly Rs. 3,06,70,402 crore), as per CoinMarketCap data.

Tron, Monero, Polygon, Iota, Ardor, and Braintrust were some altcoins that were not negatively impacted by the ongoing crypto market volatility.

“We're in an evolving phase of crypto adoption, where large caps like Bitcoin are holding steady. The path ahead will require a balance of risk and innovation for long-term sustainability,” Avinash Shekhar, Co-Founder and CEO, Pi42 told Gadgets 360.

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.