BTC Sees No Big Price Change Entering April, Most Altcoins Record Fluctuation

With a small loss of 0.34 percent, Bitcoin is trading at the price point of $27,707 (roughly Rs. 22.8 lakh).

Written by Radhika Parashar, Edited by Siddharth Suvarna | Updated: 3 April 2023 11:40 IST

BTC Sees No Big Price Change Entering April, Most Altcoins Record Fluctuation

Photo Credit: Pixabay/ Sergei Tokmakov

The market cap of the crypto sector, for now, stands at $1.16 trillion

Highlights

Shiba Inu saw losses
Dash, Iota saw gains
Stellar, ZCash recorded losses

Resilient at around $28,000 (roughly Rs. 23 lakh), Bitcoin has stepped into the month of April 2023 with not many flying colours. With a small loss of 0.34 percent, Bitcoin is trading at the price point of $27,707 (roughly Rs. 22.8 lakh). The world's oldest cryptocurrency has been sitting tightly on this price mark for over a week now. While the value of BTC has risen substantially over the past week, experts predict it could be a while before Bitcoin crosses the threshold of $30,000 (roughly Rs. 24.7 lakh) amid the market volatility.

Ether managed to mint small gains, taking a different market route than Bitcoin for a change. The current price point of ETH stands at $1,771 (roughly Rs. 1.45 lakh) with a minor rise of 3.45 percent, showed the crypto price tracker by Gadgets 360 on Monday, April 3.

"Ether saw a slight increase from the previous day. Also, Ethereum developers anticipate the Shanghai upgrade on April 12, marking Ethereum's full transition to a PoS network," Rajagopal Menon, Vice President, WazirX told Gadgets 360, explaining ETH's price rally.

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The crypto price chart looked divided into two parts on Monday, as the top two cryptocurrencies — BTC and ETH — diverted their paths.

Bitcoin, on the loss-making side of the crypto chart, was joined by Binance Coin, Ripple, Polygon, Solana as well as Shiba Inu, Tron, and Avalanche.

On the other hand, Tether, USD Coin, Cardano, Dogecoin followed Ether on the gain trail.

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Binance USD, Polkadot, Litecoin, and Wrapped Bitcoin also recorded minor gains.

As an aftereffect of the banking collapse, TradFi sentiments seem to be low among users, especially as Bitcoin is increasingly being seen as a better investment alternative.

"Investors are eagerly anticipate the release of fresh data on productivity and jobs in the United States this week. This could have an impact on the overall health of the crypto market," Edul Patel, CEO of Mudrex told Gadgets 360.

Amid the essence of volatility in the global fintech industry, the valuation of the global crypto sector dropped by 2.02 percent in the last 24 hours. As per CoinMarketCap, the crypto market cap stands at $1.16 trillion (roughly Rs. 95,53,149 crore).

Smartphone companies have launched many compelling devices over the first quarter of 2023. What are some of the best phones launched in 2023 you can buy today? We discuss this on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

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Cryptocurrency Prices across Indian exchanges

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Further reading: Cryptocurrency, Bitcoin, Ether, Tether, USD Coin, Ripple, Binance USD, Binance Coin, Cardano, Polygon, Solana, Polkadot, Dogecoin, Shiba Inu, Litecoin, Uniswap, Tron, Monero, Dash, Wrapped Bitcoin, Bitcoin Cash, Flex

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