&w=3840&q=100)
Crypto market update: Bitcoin holds $93k level, faces resistance at $95k
Crypto markets have entered a consolidation phase after recent upside, with traders increasingly looking to altcoins for directional cues. Bitcoin (BTC) faced a minor pullback, however, has bounced back above $93,000 levels. At 10:38 AM on Friday, April 25, the flagship cryptocurrency was quoted trading at around $93,213.75 levels, higher by 0.28 per cent.
Bitcoin has traded in the range of $91,696.71 to $94,430.89 in the last 24 hours, according to data from CoinMarketCap. The world's most popular cryptocurrency, which also has the largest market capitalisation, has a 24-hour trading volume of $32.73 billion. Bitcoin's market capitalisation stood at $1.84 trillion.
Bitcoin, Alankar Saxena, co-founder and CTO of Mudrex, said, has quickly bounced back following a minor pullback due to a marginal increase in US jobless claims. However, robust inflows into spot Bitcoin ETFs, which totalled over $2.2 billion this week, gave Bitcoin enough strength to recover. According to CoinGlass data, a break above the $95,000 mark could trigger liquidations of nearly $700 million in short positions, easing selling pressure and setting the stage for the next leg up. "This could push Bitcoin to reclaim the $100,000 mark, while the support stands at $90,800," said Saxena.
Meanwhile, Himanshu Maradiya, founder and chairman, CIFDAQ Group, believes that while Bitcoin hovers above the $90,000 resistance level, the spotlight is gradually shifting, just as in previous cycles, toward the altcoin space. AI, gaming, and meme tokens are drawing fresh attention from retail investors, reflecting a renewed risk-on appetite. However, this enthusiasm, Maradiya said, also comes with heightened volatility, especially among low-cap assets that can magnify both gains and losses. Sentiment, he said, remains cautiously optimistic, supported by expectations of favorable macroeconomic data and ETF inflows. "If liquidity conditions hold, select altcoins may outperform majors in the near term," said Maradiya.
Here's how other cryptocurrencies are faring
Ethereum (ETH), the world's second-largest cryptocurrency by market capitalisation, was quoted trading at around $1,765.72, down 0.45 per cent.
Among other popular cryptocurrencies, Solana (SOL) was trading higher by 1.71 per cent, Binance Coin (BNB) with marginal gains of 0.04 per cent. Ripple (XRP), on the other hand, traded with a loss of 0.42 per cent. Meanwhile, the US dollar-linked stablecoin Tether traded at $1, up 0.04 per cent.
Top trending Cryptocurrencies
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
31 minutes ago
- Economic Times
India's Next Big Themes: AI, Semiconductors & Defense to lead wealth creation says Manish Jain
Manish Jain from Mirae Asset Capital Markets highlights AI, defense, digital economy, semiconductors, and renewables as key sectors for long-term wealth creation in India. He suggests that tariff war fears are not the main volatility driver, but geopolitics and earnings shocks could be. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads In this edition of ETMarkets Smart Talk, Manish Jain, Chief Strategy Officer & Director at Mirae Asset Capital Markets, shares his insights on the emerging megatrends that are set to reshape India's investment landscape over the next artificial intelligence and semiconductors to defense and renewables, Jain believes these sectors hold the key to long-term wealth creation He also delves into the current market volatility, the evolving IPO landscape, and why India is poised for a multi-year growth story driven by innovation, digital transformation, and strategic modernization. Edited Excerpt -A) Last week, during our Invest India Global Conference in Mumbai, I mentioned that tariff war-related fears will not be the main driver of volatility going forward. On tariffs, the world is now tuned for sudden news and adjustments thereof.A 10% tariff tax is universal to other countries as well. The impact of the tariff war on India's GDP is limited. The impact on markets is more sentimental and consensus GDP is projected to grow at around 6.5%, which is expected to be better than last year's print of 6.3%. Bilaterally, India is at an advanced stage of discussion with the US and the UK. India is also negotiating with the EU and New seem to have bottomed out. Now, any earnings shock could be a factor for volatility. Geopolitics has become very complex. This could drive volatility. COVID could be another reason for increased volatility going forward.A) Gold is part of the portfolio. I have increased the allocation. Cash levels vary, but I try to keep cash at around 10% to take advantage of any opportunities that volatility may stocks and ETFs (including Bitcoin ETF) are part of the portfolio. I'm also evaluating UAE markets to see if they present good yields on bonds and REITs.A) For 478 companies in the Nifty 500, Revenue/EBITDA/PAT grew by 6%/11%/12% YoY. Ex-financials, growth was 6%/9%/15% YoY. EBITDA/PAT margins improved by 120/60 bps to 23.8%/10.5%.The highest earnings growth was observed in Metals, PSU Banks , Healthcare, Telecom, Internet Services, Chemicals, Transportation, and Capital Goods . Earnings were dragged by Oil & Gas (ex-OMCs), Private Banks, and Infrastructure A) It's difficult to talk about specific names. Any business with a cash-generating ability would be on the radar. Sustainable EPS growth and growing market share would be the criteria for selecting IPO companies from the lot.A) On a selective basis, I see it as a long-term opportunity. Sometimes, we have seen mainboard activity reduce, but SME IPOs have still gone have more bankers coming in to place SME IPOs, and this is a space that has grown tremendously, even though there is less liquidity and a much higher application a good issue, even for a smaller fund raise, there is enough and more liquidity to fill these IPOs.A) A lot is happening in India in the next 5–7 years. So many things are doubling, including GDP.I would keep an eye on 4–5 sectors:– India's AI market is projected to grow at a CAGR of 25–35%. It's expected to raise India's annual growth rate by 1.3% and add a trillion dollars to the economy in the next 10 defense budget is USD 75 billion, ranked 4th highest globally. We have a target of USD 6 billion in exports and USD 35 billion in production in the next 5 years. Digital Economy – In the next 5 years, India's DE is projected to contribute nearly one-fifth or 20% of the country's overall economy. DE industries have grown at 17% vs the economy's 12% growth rate—outpacing traditional and chips—not from potatoes but from silicon. The semiconductor market is expected to double to USD 100 billion in the next 5 is targeting 500–600 GW of RE in the next 5–7 years. Green hydrogen is something to keep an eye on. India is targeting 5 million tonnes per year in the next 5 years.A) In the recent conflict between India and Pakistan, assets and weapons used by the armed forces were mostly made indigenously with limited foreign have delivered the desired outcomes and successfully demonstrated capabilities at par with global defense products, proven capabilities of the equipment are a major deciding factor while acquiring the assets. Following the conflict, Indian defense equipment is now in high demand, and enquiries have also increased from various recent rally in the defense sector was backed by expectations of new defense orders under emergency procurement. The development of new-age weapons is also expected to see strong growth over the next 1–3 government is expected to announce the process to fast-track the acquisition programme. In the longer term, the modernisation programme will pick up year's defense budget may see an increase in the allocation of funds towards modernisation, acquisition of assets, IAF fleet strength, etc.(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
Time of India
an hour ago
- Time of India
Civil War has begun! Rich Dad Poor Dad author Robert Kiyosaki warns of global chaos, backs Bitcoin as the only safe haven
Robert Kiyosaki , the bestselling author of Rich Dad Poor Dad , has issued a chilling warning on social media, declaring that a 'civil war has begun,' as ICE raids in Los Angeles reportedly erupted into violence. Kiyosaki paints a bleak picture of what lies ahead — a 'long, hot, violent summer' not just in the US but around the world. In a tweet that has since gone viral, Kiyosaki said the unrest isn't limited to the United States. He pointed to growing turmoil in Japan, China, France, and other countries, suggesting that the world is entering a period of widespread instability. 'This turmoil is described in the FOURTH TURNING by Strauss and Howe, who posit that society operates in a series of 80-year cycles,' Kiyosaki wrote. He linked the current global discontent to previous historic turning points such as the Great Depression, the American Civil War , and the American Revolution. Crypto Tracker TOP COIN SETS DeFi Tracker 4.07% Buy BTC 50 :: ETH 50 3.20% Buy Smart Contract Tracker 1.92% Buy Web3 Tracker 0.82% Buy NFT & Metaverse Tracker -1.68% Buy TOP COINS (₹) Ethereum 230,216 ( 7.99% ) Buy Solana 13,617 ( 5.54% ) Buy Bitcoin 9,379,545 ( 3.81% ) Buy XRP 196 ( 2.63% ) Buy BNB 56,794 ( 2.07% ) Buy At the core of this chaos, Kiyosaki believes, is a crisis of trust in money itself. Did you Know? The world of cryptocurrencies is very dynamic. Prices can go up or down in a matter of seconds. Thus, having reliable answers to such questions is crucial for investors. View Details » Kiyosaki reiterated his long-standing belief that traditional fiat currencies — which he often calls 'fake money' — are eroding wealth through inflation and central bank manipulation. 'The issue is our bankers are stealing the wealth of the people via counterfeit money the central bankers print,' he said. According to Kiyosaki, central banks are enabling a silent financial war on the population. His solution? Move away from government-issued money and adopt what he calls 'sound money' — gold, silver, and especially Bitcoin . 'Gold and silver are God's money. Bitcoin is people's money,' he declared. Echoing sentiments he has voiced before, Kiyosaki urged his followers to 'become your own bank' by holding assets that can't be debased by monetary policy. 'Take control of your wealth. Stop allowing bankers to steal your wealth via taxation and inflation. Stop saving fake money,' he warned. He concluded his tweet with a call to action: 'Save gold, silver, and Bitcoin. Then you will turn… ahead of today's Fourth Turning.' CIVIL WAR has begun. ICE raids in Los Angeles erupt into mass violence. BIG QUESTION: Will it spread? MY ANSWER: I believe we and the world are in for a long, hot, violent summer. This turmoil is described in the FOURTH TURNING by Strauss and Howe, who posit that society… — Robert Kiyosaki (@theRealKiyosaki) June 9, 2025 Kiyosaki has long been a vocal advocate of Bitcoin, especially in times of financial uncertainty. His comments come at a time when Bitcoin continues to trade near record levels amid global inflationary pressures, rising geopolitical tensions, and increasing distrust in traditional banking systems. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Time of India
2 hours ago
- Time of India
Gold price prediction today: Where are gold rates headed on June 10, 2025 and in the near-term?
Gold price prediction: Traders need to take cognizance of the ongoing US-China trade deal talks. (AI image) Gold price prediction today: Amidst ongoing US-China trade deal talks, gold prices are likely to continue fluctuating, with geo-political uncertainties adding to volatility. Where are gold prices headed in the short-term and what are the factors that investors need to watch out for? Praveen Singh, Senior Fundamental Research Analyst- Currencies and Commodities at Mirae Asset Sharekhan shares his views: Gold Performance: Top trade deputies of the US and China began their talks in London on Monday. Gold gained on Monday on a weaker US Dollar. MCX August gold contract was at Rs 97200, up 0.16% on the day. Earlier, spot gold prices fell 1.25% to close at $3310 on Friday as the US non-farm payroll report (May) came in somewhat better than expected, though details were not so encouraging. Easing US-China trade tensions pressurized the yellow metal further. Despite falling for two straight days on June 5 and June 6, the metal closed nearly 0.63% higher on a weekly basis in the week ending June 6. The metal rose to $3403 on June 5 --highest since May 8- as traders piled into the metal on safe haven demand as US-China tensions escalated. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trade Bitcoin & Ethereum – No Wallet Needed! IC Markets Start Now Undo US-China trade talks begin in London: US Treasury Secretary Bessent, Commerce Secretary Lutnick and US Trade Representative Greer met a Chinese delegation led by Vice Premier He Lifeng Monday at London's Lancaster House. Presence of high-profile officials in Trump's Team reflects willingness of the US administration to allow some relaxations in the US exports to China, which may include technical supplies, jet engine parts, etc. China, in turn, is expected to ease rare earth exports to the US. Gold ETF holdings: Total known global gold ETF holdings stood at 88.394MOz as of June 6. ETF holdings witnessed net inflows for the second consecutive week following net outflows for five straight weeks. ETF holdings are up around 6.70% YTD. Gold Data roundup: China's inflation data released Monday showed that China's CPI (May) declined 0.1% y-o-y vs the forecast of -0.2%. It was the fourth straight monthly decline as the Chinese economy continues to struggle with sluggish demand amid a raging trade war. China's factory deflation continued for the 32nd straight month as PPI (May) declined 3.3% y-o-y as against the estimate of 3.2% and 2.7% decline in April. The deflation threat will continue to linger unless consumer demand remains sluggish. China's exports slowed from 8.1% y-o-y in April to 4.8% y-o-y (forecast 6%) in May as shipments to the US declined 34% y-o-y, worse than a 21% decline registered in April. Chinese imports dipped 3.4% y-o-y due to trade uncertainty as against the forecast of a decline of 0.8%. The US non-farm report (May) released Friday was somewhat better-than-expected as US employers added 139K jobs Vs the forecast of 126K jobs, while the unemployment rate held steady at 4.2%. Average hourly earnings m-o-m and y-o-y rose 0.4% and 3.9% respectively Vs the respective estimates of 0.3% (prior 0.2%) and 3.7% (prior 3.9%). However, two-month payroll net revision showed a decline of 95K jobs as labor force participation rate slid from 62.6% to 52.4%. The household survey reflected a weakening job market. Even as the population increased by 188k, the labor force dropped by 625k. Thus, even though employment fell by 696k, the unemployment rate held steady at 4.20%. Upcoming data: Traders will closely monitor US CPI (May) and PPI (May) data to be released on June 11 and June 12 respectively for clues to the Fed rate cut path. US Dollar and yields: The US Dollar Index, at the time of writing, was seen at 98.95, down nearly 0.24% on the day. The Index fell 0.14% in the week ending June 6. Ten-year and 30-year US yields were a tad lower at 4.48% and 4.95% respectively. Weekly CFTC data: Money managers increased their net bullish gold bets to a seven-week high in the week ending June 3. China buys gold for the seventh straight month: China's gold reserves were up for the seventh consecutive month as PBoC bought around 2 tons of gold in May. China's gold holdings reached 73.80 MOz at the end of May. Gold Price Outlook: The lingering deflation threat to China's economy, positive ETF inflows and not so strong US non-farm payroll report (May) are positive factors for the yellow metal. However, in the near-term, the metal is expected to take its clues from the ongoing US-China trade talks in London. Positive outcomes from the talks will weigh on the shiny metal. In that case, gold may fall to as low as $3260 (Rs 95,000). Interim support is at $3292 (Rs 96,000). Resistance is at $3365 (Rs 98,000)/$3405 (Rs 99,200). In all the possibility, there may be some tentative positive developments in the trade deal talks. In that case, gold may decline to test the support at $3292. However, full resolution of all the trade related issues looks to be elusive for the time being. Nonetheless, traders need to take cognizance of the ongoing US-China trade deal talks. In the meantime, a light sell position can be initiated with due risk management in place. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
