Bitcoin Surges Past $107,000 for First Time Since January as Altcoins Rally

Bitcoin, for the first time in four months, surged over the price point of $107,000 (roughly Rs. 91.5 lakh) on Wednesday, May 21. The most expensive crypto asset rose by nearly two percent on global exchanges in the last 24 hours. Bitcoin is retailing at $107,616 (roughly Rs. 92.1 lakh) on international platforms, data by CoinMarketCap shows. Bitcoin took a similar trajectory on Indian exchanges as well. Having clocked profits touching two percent, BTC is presently trading at $107,780 (roughly Rs. 92.2 lakh) on exchanges like CoinDCX and CoinSwitch. Prior to this, Bitcoin's price touched $108,000 (roughly Rs. 92.3 lakh) between December 2024 and January 2025.

"The SEC has signalled a policy shift, committing to clearer, collaborative crypto regulations. This fresh regulatory openness, combined with rising institutional participation, continues to position crypto for long-term growth despite short-term range-bound price action," said Himanshu Maradiya, Founder and Chairman of the CIFDAQ exchange told Gadgets 360.

Ether joined BTC in registering gains on Wednesday. ETH rose in price by under one percent to trade at $2,587 (roughly Rs. 2.20 lakh) on international exchanges, as per CoinMarketCap. On Indian exchanges, however, ETH logged minor losses of under one percent bringing its price to $2,593 (roughly Rs. 2.21 lakh).

"Ether currently faces strong resistance at $2,850 (roughly Rs. 2.43 lakh). If it breaks and closes above this level with good volumes, we can expect prices to rally further to $3,000 (roughly Rs. 2.56 lakh) and $3,350 (roughly Rs. 2.86 lakh)," the ZebPay Trade Desk said sharing estimates.

The crypto price tracker by Gadgets 360 reflected profits next to most altcoins on Wednesday.

These include Tether, Solana, Dogecoin, Tron, Avalanche, Stellar, and Shiba Inu.

Leo, Polkadot, Monero, Cronos, Bitcoin SV, Iota, and Polygon also registered profits on the price chart.

"While structural indicators like the Golden Cross and ascending trendlines suggest a bullish setup, on-chain data points to short-term overheating. Broader market sentiment remains cautiously optimistic as we await further confirmation of trend continuation," Riya Sehgal, Research Analyst, Delta Exchange told Gadgets 360.

The overall crypto market cap rose by 0.87 percent in the last 24 hours bringing the market cap to $3.40 trillion (roughly Rs. 2,90,85,857 crore), as shown by CoinMarketCap.

Meanwhile, a handful of crypto assets that reflected losses on Wednesday include Ripple, Binance Coin, Cardano, Chainlink, and Litecoin.

"DeFi protocols like AAVE are regaining traction amid broader market optimism. This kind of market activity presents compelling opportunities for investors seeking exposure to both established and emerging crypto assets," 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.