Bitcoin has rebounded to trade at approximately $87,300 amidst rising investor confidence and macroeconomic shifts, while Ether also saw gains. Market predictions suggest further price movements, with mixed results for other altcoins. Cryptocurrencies continue to attract investor interest despite ongoing uncertainties, prompting cautious investment strategies.
Bitcoin prices demonstrated notable growth on both national and international exchanges after a recent decline spurred by tariffs announced by US President Donald Trump. On international platforms, Bitcoin recorded an increase of 2.61 percent, trading at $87,373 (approximately Rs. 74.5 lakh), while Indian exchanges showed a price of $87,845 (around Rs. 75 lakh), marking a rise of over two percent. Despite recent challenges, Bitcoin is now gaining upward momentum, attributed to investor confidence and external macroeconomic factors.
Investor sentiment is bolstered by the falling dollar index hitting a three-year low and rising recession fears, with Bitcoin seen as a safe-haven asset. Alankar Saxena, co-founder and CTO of Mudrex, indicated that a rise beyond the monthly high of $88,700 could prompt momentum towards $92,000, underpinned by strong support levels around $84,000.
Ether experienced a 1.52 percent price increase on international exchanges, trading at $1,640 (about Rs. 1.40 lakh). In India, the altcoin is valued at $1,663 (approximately Rs. 1.41 lakh), reflecting an upward movement of over one percent. Riya Sehgal, a research analyst at Delta Exchange, noted that Ethereum is maintaining above $1,500 but faces resistance near $1,680, compounded by ongoing market uncertainties related to US-China trade discussions and treasury yields.
Meanwhile, the crypto price tracker by Gadgets 360 indicated that most altcoins remained stagnant on Monday. Noteworthy gains were observed in coins like Ripple, Binance Coin, Tron, Leo, and Shiba Inu, whereas losses were seen in Solana, Dogecoin, Cardano, Avalanche, Stellar, and Polkadot. The total crypto market capitalisation increased by 1.70 percent, reaching $2.74 trillion (roughly Rs. 2,33,93,435 crore), reflecting a gradual recovery.
Avinash Shekhar, co-founder and CEO of Pi42, highlighted the growing confidence among users and improving infrastructure as catalysts for mainstream adoption of cryptocurrencies. Investors are encouraged to be cautious amidst market volatility and to engage in comprehensive research before making investment decisions. It is essential to note that cryptocurrencies are unregulated digital currencies, posing inherent market risks. This article does not offer financial advice or recommendations, as stated in the NDTV disclaimer.
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