Bitcoin is trading at $84,500 (roughly Rs. 72.8 lakh) on global platforms.
The crypto sector valuation currently stands at $2.77 trillion (roughly Rs. 2,38,98,099 crore)
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The crypto price charts reflected more losses than gains on Friday, March 21. In the last 24 hours, Bitcoin price dropped by 1.40 percent on international exchanges. CoinMarketCap shows that Bitcoin is currently trading at $84,500 (roughly Rs. 72.8 lakh) on global platforms. The most expensive cryptocurrency, Bitcoin, also registered losses of around two percent on Indian exchanges over the last day. Data by CoinSwitch and Giottus show the asset priced between $86,200 (roughly Rs. 74.3 lakh) to $88,145 (roughly Rs. 76 lakh).
“Bitcoin has yet to accumulate enough momentum for a decisive breakout. Bulls have successfully defended the $80,000 (roughly Rs. 68 lakh) level for six consecutive days, signaling strong support. While the market remains in consolidation, sustained buying pressure could trigger another upward move. If decline continues, the $80,000 (roughly Rs. 68 lakh) zone could be the next key level to watch, especially heading into the weekend,” Edul Patel, CEO and cofounder of Mudrex told Gadgets 360.
Ether price dropped by 2.3 percent in the last 24 hours. On global exchanges, ETH is trading at $1,974 (roughly Rs. 1.70 lakh). Meanwhile, the asset price dropped by 2.10 percent on Indian platforms to claim the pricing of $2,064 (roughly Rs. 1.78 lakh).
“Ethereum remains stuck within an ascending range. This suggests the market volatility has begun to escalate, consistently forming higher highs and lower lows,” said the CoinDCX markets desk.
The crypto price tracker by Gadgets 360 showed loses next to majority altcoins on Friday.
These include Solana, Cardano, Dogecoin, Cardano, and Avalanche.
Shiba Inu, Polkadot, Bitcoin Cash, and Cronos also succumbed to the market slowdown and reflected losses on the price charts.
“Broader market volatility has Bitcoin, Ethereum, and Dogecoin losing gains despite political support for crypto adoption. The evolving environment equates to increased volatility as traders weigh macroeconomic trends, regulatory changes, and institutional participation. Additionally, with greater institutional focus and mass adoption, the long-term prospect remains attractive despite short-term fluctuations,” Avinash Shekhar, Co-Founder and CEO, Pi42 told Gadgets 360.
The overall crypto market cap slipped by 1.15 percent over the last day. As per CoinMarketCap, the valuation of the sector currently stands at $2.77 trillion (roughly Rs. 2,38,98,099 crore).
Tether, Uniswap, Aave, Iota, and Baby Doge Coin were among a handful of altcoins that managed to see small gains.
Meanwhile, Donald Trump spoke at the Blockworks Digital Asset Summit, urging Congress to pass stablecoin legislation and reaffirming his pro-crypto stance. However, the market has shown no positive reaction to the news.
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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