As of April 29, Bitcoin holds above $94,000, amid mixed altcoin performance. The total market cap is $2.96 trillion, with Virtuals Protocol exhibiting significant gains, while Pudgy Penguins sees losses. Analysts indicate potential market catalysts and institutional support, keeping an eye on Bitcoin’s resistance levels and economic developments.
In the latest cryptocurrency roundup, Bitcoin continues its firm hold above $94,000, trading at about $94,344.99 as of early today, April 29. The global market has seen a modest uptick, rising to a $2.96 trillion valuation and reflecting a 24-hour increase of around 0.29 percent. Meanwhile, altcoins like Ethereum and Solana display mixed results, with Ethereum dipping slightly while some other coins are also experiencing minor shifts.
The most notable performer today is Virtuals Protocol (VIRTUAL), which has skyrocketed over 30 percent in the past 24 hours. On the flipside, Pudgy Penguins (PENGU) shifted from yesterday’s gains to a significant drop, down nearly 12 percent. Market sentiment, as gauged by the Fear & Greed Index, has stabilised at a neutral 53 out of 100 according to CoinMarketCap data.
Looking at the price details: Ethereum’s current price lingers around $1,793.69, marking a slight loss of 0.33 percent, and in India, it’s equivalent to approximately Rs 1.53 lakh. Dogecoin has also faced downward pressure with a 0.69 percent loss, settling at $0.1779 or Rs 15.29 in India, while Litecoin is trading at $85.62, down 0.36 percent.
As for Ripple, its recent performance includes a modest decline of 0.20 percent, currently priced at $2.27, or Rs 193.92 in India, while Solana has dipped by 1.81 percent, now at $146.28, which translates to Rs 12,791.77 in Indian rupees. In the broader market, the top five gainers include Virtuals Protocol, Solayer, Floki, Nexo, and Story, showcasing substantial intraday gains, notably VIRTUAL’s impressive 30.27 percent rise.
The losers’ list is led by Pudgy Penguins, with a steep drop of 12.69 percent. Other notable downtrends include Official Trump, Ethena, Walrus, and Bitcoin SV, with losses between 4 to 6 percent. Analysts are weighing in on the ongoing market shifts, including insights from experts like Alankar Saxena of Mudrex, who discussed Bitcoin’s resistance around $95,000 and the potential impact of upcoming economic data.
Additional comments from other experts indicate a surge in interest, alongside significant institutional investments — Strategy alone adding $1.4 billion worth of BTC to its portfolio. There’s a strong sentiment building that if Bitcoin breaks through significant resistance levels, it could reach $100,000.
Meanwhile, CoinSwitch Markets highlighted a resilient market environment amid economic uncertainties, with Bitcoin enjoying a boost from Standard Chartered’s projections. Pi42’s Avinash Shekhar noted a record inflow into digital assets, underscoring growing confidence from new investors. However, the market remains tenuous; macroeconomic factors could derail the current momentum, and technical levels will be critical to watch for the next breakout phase.
