On April 28, Bitcoin surpassed $94,000 amid a bullish market trend, with the global crypto market cap reaching $2.95 trillion. Pudgy Penguins emerged as the top gainer with a 29% increase. Expert opinions highlight strong investor confidence in Bitcoin, hinting at further upward potential amidst market corrections. Notably, various altcoins also performed positively, while some faced losses.
Bitcoin Price Surges to Over $94,000; Pudgy Penguins Take the Lead
In a notable turn of events, cryptocurrency prices on April 28 witnessed Bitcoin (BTC) crossing the $94,000 barrier early Monday, signalling a bullish sentiment in the market. The overall global crypto market cap reached an impressive $2.95 trillion, bolstered by a positive performance of various altcoins like Ethereum (ETH), Solana (SOL), and Ripple (XRP). Notably, the Market Fear & Greed Index settled at 51, indicating a neutral stance among investors. Data from CoinMarketCap highlights that Pudgy Penguins (PENGU) tumbled into the spotlight as the biggest gainer, surging over 29 percent in just 24 hours, while FET logged the largest loss at around 9 percent.
As for Bitcoin, its price stood at $94,113.27 after a minor loss of 0.05 percent over the past day, while Indian exchanges valued it at approximately ₹80.32 lakh. Ethereum wasn’t as fortunate, with its price resting at $1,768.69, marking a 0.69 percent decline, which translates to around ₹1.53 lakh in India. In contrast, Dogecoin (DOGE) rose just slightly, gaining 0.53 percent, now priced at $0.1794, which corresponds to ₹15.29.
Litecoin (LTC) gained traction, up 0.70 percent, priced at $85.96 and around ₹7,336.50 locally. Ripple (XRP) was also performing well, rising by 4.57 percent to hit $2.27, translating to ₹193.92 in Indian markets. Its counterpart, Solana (SOL), rallied up 1.37 percent, currently worth $149, equal to around ₹12,791.77.
Top Gainers and Losers
Some notable names emerged in the gainers list on the same day, according to CoinMarketCap. Pudgy Penguins (PENGU) topped the list, climbing 29.04 to $0.0125. Other high performers included DeepBook Protocol (DEEP) with a substantial gain of 17.93 percent, Walrus (WAL) at 17.32 percent, Monero (XMR) boasting a 15.13 percent uptick, and Fartcoin (FARTCOIN) not far behind at 12.69 percent.
Conversely, the market witnessed its fair share of losers. Artificial Superintelligence Alliance (FET) stumbled by 8.83 percent, now priced at $0.7159. Worldcoin (WLD) followed with an 8.76 percent downturn at $1.12. BitTorrent (BTT), Stacks (STX), and Ethereum Name Service (ENS) also suffered slightly losses ranging from around 8.07 to 6.47 percent.
Expert Opinions on the Market Landscape
Edul Patel from Mudrex shared insights, noting Bitcoin’s steady grip around $93,500. He mentioned indicators suggest a bullish trend, primarily driven by over $3 billion in Bitcoin ETF inflows and significant BTC outflows from exchanges—often viewed as a sign of growing investor confidence. Moreover, wallets holding substantial Bitcoin amounts have seen notable increases, reinforcing positive momentum.
Meanwhile, CoinSwitch Markets Desk reported a significant increase in BTC, which hit above $95,000 for the first time in two months, affirming its strong position above moving averages. With potential changes in U.S. income tax laws expected to impact the markets positively, there was a buzz surrounding potential bullish trends.
Avinash Shekhar from Pi42 expressed optimism about Bitcoin, highlighting a strong possibility of breaking previous all-time highs. He referenced a recent surge and stated technical analysis points suggest Bitcoin could potentially reach as high as $124,000. This enthusiasm for Bitcoin’s stability is echoed by Sathvik Vishwanath from Unocoin, who emphasised institutional interest as a driving factor behind its price trajectory.
Finally, with speculation brewing about Bitcoin’s future, Shivam Thakral reinforced that ongoing regulation adjustments may positively influence user protection and market innovation, boosting overall confidence in the cryptocurrency sector.
As markets remain unpredictable, analysts suggest a cautious approach as the crypto landscape continues to evolve. Investors are reminded about the inherent risks in cryptocurrency; expert advice remains critical at this juncture.
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Disclaimer: Crypto investments are risky and unregulated. Readers are encouraged to seek professional guidance and thoroughly review all related documents before making investment decisions.
