The overall crypto chart showed more gains than losses on Wednesday, September 25. Bitcoin reflected a gain of 1.20 percent on Indian exchanges and a gain of 6.14 percent on international exchanges in the last 24 hours. At the time of writing, BTC was trading at $64,380 (roughly Rs. 53.7 lakh) on international exchanges, according to CoinMarketCap. Meanwhile, on the Indian bourses, the asset was valued at USD 66,630 (roughly Rs 55.6 lakh).
Eter recorded minor losses of less than one percent on national and international stock exchanges on Tuesday. As shown by crypto price tracker Gadgets360, ETH is trading at $2,731 (roughly Rs. 2.28 lakh) on Indian platforms such as CoinDCX. Internationally, ETH is valued at $2,631 (roughly Rs. 2.19 lakh).
“The crypto market continues to recover. BTC continues to rise, but with more than $10 billion (roughly Rs. 83,526 crore) in highly leveraged short positions at the liquidation level of $72,000 (roughly Rs. 60 lakh), we could see volatility and a possible bounce or pullback in that area. ETH and related tokens are performing well as ETH/BTC found strong trendline support, signaling further outperformance. Namely, tomorrow’s upcoming quarterly release of US GDP data is a key event to watch for the week,” CoinDCX’s market department told Gadgets360.
Binance Coin, Ripple, Dogecoin, Cardano, Tron and Avalanche posted gains on Wednesday along with Bitcoin.
Shiba Inu, Polkadot, Leo, Litecoin, Cronos, Cosmos, Polygon, Bitcoin SV and Neo Coin also found themselves on the profit-making side of the cryptocurrency on Tuesday.
The total capitalization of the crypto market increased by 1.89 percent in the last 24 hours. This brought the valuation of the crypto sector to $2.26 trillion (roughly Rs. 1,88,76,616 crore), CoinMarketCap showed.
“The global shift towards monetary easing, especially with China joining other major economies in loosening policies to counter the economic slowdown, is largely responsible for this upward momentum,” Shivam Thakral, CEO of BuyUcoin told Gadgets360.
Solana and USD Coin joined ETH on the losing side of the crypto chart. Stellar, Zcash, Iota, Qtum and Status also saw their prices drop.
“With central banks in the US, EU and China cutting interest rates, the crypto market is seeing significant inflows, both directly and through ETFs, driven by improved economic sentiment,” Edul Patel, CEO of Mudrex told Gadgets360.
Cryptocurrency is an unregulated digital currency, it is not legal tender and is subject to market risks. The information provided in the article is not intended to constitute financial advice, trading advice or any other advice or recommendation of any kind offered or endorsed by NDTV. NDTV shall not be liable for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.
