Bitcoin prices rose on Monday after a period of decline, trading at $87,300 amid renewed investor confidence. Macro factors, including a low dollar index and recession fears, contribute to this trend. Ether also saw a price increase, while altcoins displayed mixed movements. The total market cap grew, highlighting a potential shift towards mainstream crypto adoption.
On Monday, Bitcoin showed increased profits following a challenging period influenced by US President Donald Trump’s tariff announcements. It rose by 2.61% on international exchanges, trading at $87,373 (approximately Rs. 74.5 lakh), while Indian exchanges reported a price of $87,845 (around Rs. 75 lakh), reflecting over a two percent gain. The recent two weeks have been difficult for Bitcoin due to extensive tariffs on imports, especially impacting China.
Investor confidence is returning, with Bitcoin trading at $87,300 (about Rs. 74 lakh). Alankar Saxena, co-founder and CTO of Mudrex, shared insights into the positive market momentum driven by macroeconomic factors such as a declining dollar index and recession concerns, making Bitcoin an attractive safe-haven asset. He noted that a close above the monthly high of $88,700 (near Rs. 75.7 lakh) could propel Bitcoin towards $92,000 (roughly Rs. 78.5 lakh), with solid support at $84,000 (about Rs. 71 lakh).
Ether also experienced a price upswing of 1.52% on international platforms, trading at $1,640 (approximately Rs. 1.40 lakh). In the Indian market, Ether stood at $1,663 (about Rs. 1.41 lakh), indicating a gain of over one percent. Despite maintaining above the $1,500 threshold, Ether encounters resistance near $1,680 (around Rs. 1.43 lakh), with persistent macroeconomic uncertainties such as US-China trade talks affecting sentiments, warned Riya Sehgal, a Delta Exchange research analyst.
Analysis by Gadgets 360 indicated that most altcoins were trading sideways. Notably, assets like Ripple, Binance Coin, Tron, Leo, and Shiba Inu recorded gains, while other cryptocurrencies such as Solana, Dogecoin, Cardano, Avalanche, Stellar, and Polkadot saw declines.
The overall cryptocurrency market cap climbed by 1.70%, reaching $2.74 trillion (approximately Rs. 2,33,93,435 crore), as reported by CoinMarketCap. Avinash Shekhar, co-founder and CEO of Pi42, emphasized that the growing user confidence and improved infrastructure trends are accelerating mainstream acceptance. He advised that the upcoming weeks will be crucial for crafting investor strategies amidst ongoing market volatility.
Given the unregulated nature of cryptocurrencies, which lack legal tender status, caution is warranted in trading. This article does not provide financial or trading advice, and readers should conduct comprehensive research before investing. NDTV cannot be held accountable for any losses arising from investment decisions based on this content.
