Bitcoin is trading at $96,019 (roughly Rs. 83.2 lakh) on global exchanges.
The crypto market cap presently stands at $3.19 trillion (roughly Rs. 2,76,65,828 crore)
Photo Credit: Unsplash/ Art Rachen
The crypto market remained sluggish over the weekend, showing little movement. On Monday, February 17, Bitcoin recorded a 1.55 percent dip on international exchanges, trading at $96,019 (roughly Rs. 83.2 lakh), according to CoinMarketCap. A similar trend was observed on Indian exchanges, where Gadgets 360's crypto price tracker reported Bitcoin at $99,734 (roughly Rs. 86.5 lakh) after a 1.50 percent decline over the past 24 hours.
“Markets continue to slide slowly in the downward direction as Bitcoin is testing the $96,200 (roughly Rs. 83.4 lakh) mark yet again. If BTC can hold this level, we should see a small relief rally here before the next big move,” the CoinSwitch markets desk told Gadgets 360.
Ether underwent a price loss of 1.15 percent on international exchanges over the last day. The second-most expensive cryptocurrency is presently trading at $2,666 (roughly Rs. 2.31 lakh) on global platforms. On Indian exchanges, Ether's value dipped by 1.30 percent to trade at $2,664 (roughly Rs. 2.31 lakh) on Monday.
Along with Bitcoin and Ether, the market slowdown has negatively impacted the price points of most altcoins.
Gadgets 360's crypto price tracker reflected losses next to Ripple, Binance Coin, Solana, Dogecoin, and Chainlink on Monday.
Other altcoins such as Stellar, Avalanche, Litecoin, Shiba Inu, and Leo also registered losses over the last 24 hours.
The overall crypto market cap tumbled by 1.44 percent, bringing the sector valuation to $3.19 trillion (roughly Rs. 2,76,65,828 crore), showed CoinMarketCap on Monday.
Meanwhile, stablecoins Tether and USD Coin did not see losses and maintained its 1:1 price ratio with the US dollar.
Cardano, Tron, Cronos, and Bitcoin SV held onto minor gains on the price charts on Monday, alongside Polygon, Iota, Status, and Circuits of Value.
The market is experiencing a series of developments, keeping volatility high and overshadowing overall momentum for the foreseeable future.
“In a recent update, Grayscale and NYSE have pushed for the first US Cardano ETF filing with the SEC to list the Grayscale Cardano Trust. Argentine lawyers have filed fraud charges in criminal court against President Javier Milei after he first launched and then disowned the LIBRA memecoin. In addition, India seized cryptocurrency worth nearly $190 million (roughly Rs. 1,647 crore) linked to the notorious BitConnect scam, which defrauded 4,000 investors across 95 countries in 2018. These factors show why the weekend did not attract the required bullish momentum,” the CoinDCX Research Team 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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