Crypto Price Today: Bitcoin Price Plunge Continues, Most Cryptocurrencies Hit by Losses

Bitcoin on Thursday, April 4 recorded a loss of 1.62 percent. This took its trading value to $64,354 (roughly Rs. 53.7 lakh).

Written by Radhika Parashar, Edited by Siddharth Suvarna | Updated: 4 April 2024 13:11 IST

Crypto Price Today: Bitcoin Price Plunge Continues, Most Cryptocurrencies Hit by Losses

Photo Credit: Pexels/ Rodnae Productions

The current crypto market valuation stands at $2.47 trillion

Highlights

Tether, Solana saw losses
Avalanche, Shiba Inu recorded price dips
Uniswap, Stellar saw gains

The crypto market volatility is only getting heated up by the day but is also spelling losses for majority altcoins on an almost regular basis. Bitcoin on Thursday, April 4 recorded a loss of 1.62 percent. This took its trading value to $64,354 (roughly Rs. 53.7 lakh). In the last 24 hours, the value of Bitcoin slipped by $1,134 (roughly Rs. 94,625). With Bitcoin's next halving slated for later this month, market analysts have predicted volatility in the coming weeks.

“The largest cryptocurrency has reflected a slump in price momentum after experiencing negative net flows into the spot ETFs. The spot ETFs were the main reason for rallies during the first quarter of 2024. With just around two weeks left for halving, we can expect more volatility due to the favourable change in supply dynamics,” said Shivam Thakral, CEO of BuyUcoin, commenting on the market situation.

Ether saw a price drop of 2.15 percent on Thursday, April 4. At the time of writing, Ether was trading at $3,190 (roughly Rs. 2.66 lakh). Over the last 24 hours, the value of ETH had dropped by $72 (roughly Rs. 6,007).

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“ETH like BTC also traded sideways in a smaller timeframe, with $3,200 (roughly Rs. 2.67 lakh) being a key level to hold. Tomorrow's announcement of the US monthly unemployment rate may bring further volatility to the market,” the CoinDCX markets desk told Gadgets360.

Solana, Ripple, Dogecoin, Cardano, Avalanche, Shiba Inu, Bitcoin Cash, and Polkadot recorded losses alongside BTC and ETH.

Tron, Polygon, Litecoin, Near Protocol, Uniswap, Leo, and Cosmos also saw losses.

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“While the possibility of a Fed rate cut in June has subdued gains, the consistent rise in stablecoin supply provides a strong reassurance to Bitcoin enthusiasts amid market fluctuations,” Rajagopal Menon, Vice President, WazirX told Gadgets360.

The overall crypto market cap dipped by 0.93 percent in the last 24 hours. It's valuation currently stands at $2.47 trillion (roughly Rs. 2,06,14,496 crore), data by CoinMarketCap showed.

Meanwhile cryptocurrencies that recorded profits on Thursday included Binance Coin, USD Coin, Monero, and Bitcoin SV.

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Cryptocurrency Prices across Indian exchanges

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Further reading: 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, Cryptocurrency

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