Bitcoin Price Above $61,000, Ether and Majority Altcoins See Losses Ahead of BTC Halving

Bitcoin is trading at $61,815 (roughly Rs. 51.6 lakh) having recorded a loss of 0.23 percent.

Written by Radhika Parashar, Edited by Siddharth Suvarna | Updated: 19 April 2024 13:39 IST

Bitcoin Price Above $61,000, Ether and Majority Altcoins See Losses Ahead of BTC Halving

Photo Credit: Unsplash/ Kanchanara

The overall crypto market cap stands at $2.26 trillion as of April 19

Highlights

Polygon, Litecoin saw losses
Price drops also recorded by Cosmos, Stellar
EOS Coin, Iota saw minor gains

The crypto chart mostly reflected losses on Friday, April 19. Bitcoin, for instance, is trading at $61,815 (roughly Rs. 51.6 lakh) having recorded a loss of 0.23 percent. This is Bitcoin's trading value in India, as per the crypto price tracker by Gadgets360. On international exchanges like Binance, Bitcoin is trading at $62,160.14 (roughly Rs. 51.9 lakh). For most part of this week, Bitcoin has managed to remain under the shadow of volatility, ahead of its fourth halving event that is expected to take place between April 19 and April 21.

“Over the last few hours, $34.03 million in Bitcoin long positions have been liquidated. But the overall sentiment remains bullish as on-chain metrics show that over $1.7 billion worth of BTC have been accumulated by holders in the last few days. BTC's current price point is acting as a temporary support,” Shivam Thakral, CEO of BuyUcoin told Gadgets360.

Ether clocked a loss of 0.45 percent on Friday. With this, the trading value of the asset hit $2,999 (roughly Rs. 2.50 lakh) on Gadgets360's crypto price tracker. On Binance, ETH is trading at $ 3,075.52 (roughly Rs. 2.56 lakh).

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Majority cryptocurrencies, as of Friday, are trading in the reds.

Solana, Cardano, Ripple, Shiba Inu, Avalanche, Tron, and Polkadot -- all registered losses on Friday.

Polygon, Litecoin, and Uniswap also stayed on the loss-making side of the crypto chart.

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In the midst of the ongoing crypto market volatility, the overall sector valuation stands at $2.26 trillion (roughly Rs. 1,88,78,119 crore), shows CoinMarketCap.

“Geopolitical unrest, with Isfahan airport explosions, heightens pressure. The upcoming halving event also exacerbates uncertainty. Ethereum-based altcoins, meanwhile, offer avenues for growth and innovation within cryptocurrency, especially in gaming and Web3 applications,” Rajagopal Menon, Vice President, WazirX told Gadgets360.

Near Protocol, Tether, Uniswap, and Chainlink managed to see small gains despite the ongoing volatility.

“Immutable X (IMX) rose by 2.5 percent in 24 hours and gained traction with partnerships and gaming adoption, fostering token demand. ApeCoin (APE) rose by 0.09 percent and displayed resilience, enhancing utility via governance proposals,” Menon noted.

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Cryptocurrency Prices across Indian exchanges

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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

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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