The crypto market showed a mixed mood on Monday, September 30, with almost equal numbers of cryptocurrencies recording gains and losses. Bitcoin has seen a 1.94 percent drop on international exchanges in the past 24 hours. Despite this drop, the leading cryptocurrency held close to the $65,000 (roughly Rs 54.4 lakh) mark, trading at $64,452 (roughly Rs 54 lakh), according to CoinMarketCap. In India, however, BTC saw a slightly steeper drop of over two percent, with its value on platforms such as CoinSwitch and CoinDCX hovering around $65,734 (roughly Rs. 55 lakh).
In the last 24 hours, Ether has recorded a price drop of 1.52 percent on world exchanges. At the time of writing, ETH was trading at $2,630 (roughly Rs. 2.20 lakh) according to CoinMarketCap. On Indian exchanges, ETH saw a loss of about 1.20 percent to trade at $2,661 (roughly Rs. 2.23 lakh), crypto price tracker Gadgets360 showed.
“Positive sentiment around Bitcoin remains strong and is expected to maintain momentum. BTC has officially formed a higher high, a key bullish indicator. ETH has bounced back above the 50 EMA on the daily chart, signaling a bullish move. Historically, the fourth quarter has been the period with the highest growth, and a similar trend is expected in this cycle,” the CoinDCX market team told Gadgets360, commenting on the state of the market.
Tether, Cardano, Tron, Avalanche, Chainlink and Polkadot posted losses on Monday along with Bitcoin and Ether.
Stellar, Cronos, Cosmos, Polygon and Bitcoin SV also saw their prices drop.
The total value of the crypto market fell by 1.70 percent in the last 24 hours. This brings the sector’s valuation to $2.27 trillion (roughly Rs. 1,90,20,364 crore), according to CoinMarketCap.
On the other hand, cryptocurrencies that managed to register gains are Binance Coin, Solana, Ripple, Dogecoin and Shiba Inu.
Small gains were also recorded by Near Protocol, Leo, Dia, Dogefi, Bitcoin Hedge and Nano Dogecoin.
According to market analysts, the broader crypto market will recover in the coming days.
“As investors diversify their portfolios, we may be witnessing the beginning of a broader recovery in the crypto space. The trends we are seeing, such as the renewed interest in spot Ethereum ETFs, which recently recorded the second best week since launch, signal a potential shift in market dynamics,” Avinash Shekhar, Co-Founder and CEO of Pi42 told Gadgets360.
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