Bitcoin is trading at $84,850 (roughly Rs. 73 lakh) on international exchanges.
The crypto market cap stands at $2.69 trillion (roughly Rs. 2,31,59,966 crore)
Photo Credit: Unsplash/ Michael Förtsch
Bitcoin registered profits on both national and international exchanges on Monday, April 14. According to CoinMarketCap, Bitcoin price rose by less than one percent to trade at $84,850 (roughly Rs. 73 lakh). However, the most expensive crypto asset grew by 10 percent over the last seven days to claim this price point. On Indian exchanges, Bitcoin logged a small gain of under one percent to trade at $87,644 (roughly Rs. 75.4 lakh). Throughout last week, Bitcoin's price action was slow – sinking the asset to its lowest price this year – $76,000 (roughly Rs. 65.3 lakh). US President Donald trump's tariff wars against other nations is said to have stirred up volatility in the crypto sector.
“Bitcoin is showing an upward momentum. Bullish signals, such as a weakening US dollar index and a sharp drop in PPI data have fueled the rally. Meanwhile, New York lawmakers have approved state agencies to accept crypto payments, marking a significant step toward the broader adoption of digital assets. If this momentum holds, BTC could soon test the $90,000 (roughly Rs. 77.4 lakh) resistance. On the downside, key support remains strong at $80,000 (roughly Rs. 68.8 lakh),” Alankar Saxena, Co-founder and CTO of Mudrex told Gadgets 360.
Ether joined Bitcoin in registering profits of less than one percent on Monday. At the time of writing, ETH was trading at $1,622 (roughly Rs. 1.39 lakh) on international exchanges. Meanwhile, on Indian exchanges, Ether saw gains of over two percent to trade at $1,693 (roughly Rs. 1.45 lakh).
“Ethereum has posted modest gains, However, on-chain data signals suggest a consolidation phase, with ETH currently trading within a tight range. This reflects a cautious but still optimistic short-term outlook for altcoins,” said Riya Sehgal, Research Analyst, Delta Exchange.
The crypto price tracker by Gadgets 360 showed majority altcoins trading in the greens on Monday, alongside Bitcoin and Ether.
These include Tether, Solana, Dogecoin, Tron, Cardano, and Leo.
Stellar, Polkadot, Zcash, Iota also managed to garner minor gains amid market volatility.
The overall crypto market cap rose by 0.35 percent in the last 24 hours. As per CoinMarketCap, the sector's valuation has reached $2.69 trillion (roughly Rs. 2,31,59,966 crore).
“The Bitcoin price has begun the weekly trade on a bullish note. The altcoins have also been displaying acute strength, which suggests the markets could remain elevated throughout the week,” the CoinDCX Research Team told Gadgets 360.
Ripple, Chainlink, Avalanche, Shiba Inu, Litecoin, and Monero registered losses on Monday.
“As open interest swells and evidence of accumulation appears on the daily charts, the crypto community suggests growing confidence. Rather than responding with instinct, the market is now displaying evidence of strategic buying and long-term positivity,” 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.
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