Crypto Price Today: Bitcoin Stays Resilient Above $34,000, Most Altcoins See Gains

Over the last day, Bitcoin value reduced by $25 (roughly Rs. 2,081) in the last 24 hours.

Written by Radhika Parashar, Edited by Siddharth Suvarna | Updated: 31 October 2023 12:30 IST

Crypto Price Today: Bitcoin Stays Resilient Above $34,000, Most Altcoins See Gains

Photo Credit: Pexels/ Rodnae Productions

The crypto market valuation stands at $1.27 trillion as of October 31

Highlights

SushiSwap, Cartesi recorded profits
Braintrust saw gains
Cosmos, Uniswap recorded gains

Bitcoin price on Tuesday, October 31 barely recorded any change in its value from last day. The most expensive crypto asset, Bitcoin, is currently trading at the price point of $34,270 (roughly Rs. 28.5 lakh). Over the last day, Bitcoin value reduced by $25 (roughly Rs. 2,081). If market experts are to be believed, as long as Bitcoin retains its value above the mark of $31,000 (roughly Rs. 25.8 lakh) — the market sentiment remains a bullish tone.

Ether joined Bitcoin to trade in the greens on Tuesday. With a small profit of 0.62 percent, the value of ETH now stands at $1,794 (roughly Rs. 1.49 lakh).

“BTC seems to be consolidating within a short range of $34,000 (roughly Rs. 28.3 lakh)-$34,800 (roughly Rs. 28.5 lakh). However, given its recent price rally, short-term BTC holders (less than 155 days) are participating in one of the strongest profit-taking events in the past couple of years. Considering the macro conditions unfolding, investors are hopeful to see a bullish trend take over,” Parth Chaturvedi, Investments Lead, CoinSwitch Ventures told Gadgets360.

Microsoft Shuts Industrial Metaverse Project Airsim to Focus on AI, Fires Staff: Report

The top 40 cryptos by market capitalisation seem to be trading in profits today, alongside Bitcoin and Ether.

Binance Coin, Ripple, Solana, Cardano, Dogecoin, Chainlink, and Polygon — all recorded profits today.

Polkadot, Litecoin, Avalanche, Stellar, Cosmos, Uniswap, and Cronos also managed to mint minor price spikes.

SIT Arrests 7 More in Himachal Pradesh Cryptocurrency Fraud Case

The overall crypto market cap rose by 0.47 percent in the last 24 hours but stayed at the mark of $1.27 trillion (roughly Rs. 1,05,73,111 crore) for the second consecutive day.

“Investor optimism regarding the potential approval of the first US spot Bitcoin ETF by the SEC is a significant driver behind Bitcoin's stellar performance. The stage seems set for a memecoin resurgence, with Pepe coin currently leading the way and recording a surge of 57 percent in the last seven days,” Rajagopal Menon, Vice President, WazirX told Gadgets360.

Tether and USD Coin, meanwhile, continue to stew in losses for the second day in a row.

Other loss-making cryptocurrencies include Shiba Inu, Binance USD, New Coin, Braintrust, and Augur.

“Notably, crypto funds experienced their most substantial weekly inflow since July 2022, attracting over $326 million (roughly Rs. 2,714 crore), as indicated by CoinShares data. Bitcoin-based funds took the lion's share, securing 90 percent of the total inflow, which amounted to $296 million (roughly Rs. 2,464 crore),” the CoinDCX research team told Gadgets360.

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