Crypto Prices Today: Bitcoin slips below $108,000; Altcoins trade mixed
Bitcoin
dipped below $108,000 on Wednesday, trading at $107,954 as of 12:47 PM IST, after touching an intraday low of $106,812. The global
crypto market
capitalisation declined 0.26% to $3.42 trillion, according to CoinMarketCap.
Ethereum
, in contrast, gained 3.5% to $2,728, supported by technical strength and positive momentum. Among
altcoins
, Solana, Tron, Sui, Hyperliquid, Chainlink, and Stellar fell up to 3%, while BNB, Dogecoin, Cardano, Avalanche, and Shiba Inu rose as much as 2%.
'Bitcoin bounced back after testing support near $106,800,' said Alankar Saxena, Co-founder and CTO of Mudrex. He noted that the market is anticipating fresh liquidity from FTX's $5 billion creditor payouts, which could boost both Bitcoin and Ethereum. Additionally, $2.4 billion worth of
Ether options
are set to expire this week, potentially supporting ETH's attempt to break above the $3,000 level.
Crypto Tracker
TOP COIN SETS
DeFi Tracker
4.67%
Buy
BTC 50 :: ETH 50
-0.11%
Buy
Smart Contract Tracker
-0.19%
Buy
Web3 Tracker
-4.76%
Buy
NFT & Metaverse Tracker
-7.60%
Buy
TOP COINS
(₹)
Ethereum
233,480 (
3.57%
)
Buy
BNB
58,548 (
0.43%
)
Buy
Tether
86 (
0.07%
)
Buy
XRP
195 (
-0.58%
)
Buy
Bitcoin
9,224,586 (
-0.89%
)
Buy
Riya Sehgal, Research Analyst at Delta Exchange, said Bitcoin is currently ranging between $106,500 and $110,000. 'A breakout above $110,000 could signal continuation, while a dip below $106,500 may open downside toward $104,000,' she said, adding that market structure remains 'neutral to slightly bullish.'
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
»
While retail sentiment has turned cautious amid geopolitical tensions and U.S. tariff concerns, institutional flows continue to support the market. Sehgal highlighted that BlackRock's iShares Bitcoin Trust alone saw $970 million in inflows on May 28, contributing to over $3 billion in total
ETF inflows
last week.
Live Events
Shivam Thakral, CEO of BuyUcoin, attributed some of the recent selling pressure to profit booking by short-term holders. 'The Crypto Fear & Greed Index indicates heightened fear, suggesting the market may remain choppy in the coming weeks,' he said.
Ethereum shows relative strength
Ethereum has managed to hold above $2,720, supported by its 100-hour simple moving average and a key trend line at $2,610. Sehgal noted that ETH appears stronger than Bitcoin near critical levels, with resistance seen at $2,780, $2,800, and $2,840. A break above $2,800 could open the way to $2,950, she added.
Meanwhile, Bitcoin's dominance fell to 62.7%, with a market cap of $2.145 trillion. Daily trading volume declined 2% to $50.73 billion.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
Business Standard
an hour ago
- Business Standard
US remittance tax to revive hawala, hand cartels a financial lifeline
Hidden on page 1,054 of President Donald Trump's 'big, beautiful bill' is a threat to impose a 3.5 per cent tax on all remittance transfers made by non-citizens to accounts outside the country. This is a dangerous, backward-looking provision, and will make Americans less safe without raising much revenue. It is easy to understand why a measure like this would appeal to the current administration. It makes migrants' lives harder, and that's enough for it to be worth passing into law. And it certainly will create difficulties for millions of legal and illegal immigrants in the US, as well as for their families outside. Mexico's president, Claudia Sheinbaum, has been a vocal opponent, saying — correctly — that this is unjustifiable double taxation. Her country, the largest destination for such transfers, has a lot to lose. But other countries are also worried. India is the third-largest destination for remittances from the US, receiving about $18 billion in 2024; the Philippines and China aren't far behind, at $14 billion each. According to Capital Economics, US-based remittances support 3 per cent of the Philippines' GDP. The impact on migration-dependent areas of the world will be severe. For some countries in Central America, national income might fall by almost 1 per cent if this proposal is implemented. Meanwhile, some estimates suggest that even a higher 5 per cent rate would only increase the US' takings by 0.1 per cent. For the remittance tax's backers, that's beside the point. Vice President JD Vance, when he was still a senator, introduced a similar bill. At that time, he said that 'this legislation is a common-sense solution to disincentivise illegal immigration and reduce the cartels' financial power.' That argument is exactly backward. What common sense actually tells you is that if less money is available in some of the poorest parts of Central America, it increases the incentives for people there to try and move to the US to join their family members already there. As for the impact on criminal networks — well, history suggests that they'll welcome this. The world has spent decades trying to make legal transfers cheap and efficient. An additional levy might increase the cost of transferring even small sums four fold. This would reverse all our efforts to force this trade above ground. If legal transfers are made too expensive, illegal and informal networks take their place. Some people have happily assumed that Bitcoin will fill the gap. But, more likely, there will be a renaissance in simpler, older mechanisms for international transfers. In South and West Asia, we call these methods 'hawala.' But other parts of the world derived equivalents independently. In China, for example, such mechanisms are called 'fei-ch'ien.' From a customer's point of view, they're simple to use. All you need to do is find a well-networked trader and give them the cash to be transferred. That person then calls somebody in their clan or village back home, who gives the same amount of cash to the chosen recipient. The two members of the hawala network settle accounts between each other once or twice a year, through smuggling or perhaps through false invoices and shell companies. Naturally, such informal mechanisms to transfer value can be used not just to evade the remittance excise, but taxes in general. Worse, they are frequently used as conduits for terrorism and drug financing — which is why governments have spent decades trying to stamp them out. This was hard because, if enough people use these systems, they can be more efficient and cheaper than formal finance. The exchange rates that hawala traders offer are often more attractive, and their fees take less of a bite out of small transactions than many banks do. In spite of the best efforts of regulators and cops, hawala networks only really shrank when other routes became more competitive. Informal currency traders need a large volume of transactions to be efficient and offer the best rates to their customers, so when their custom shrank, they became less attractive. It's this self-reinforcing loop that the remittance tax threatens to break. Suddenly, hawala networks — and their equivalents in South and Central America — will become appealing again. And when this method returns to its former prominence, it will become easier to pay those who smuggle opiates or people. And, of course, criminal syndicates of various types will once again step in to run these systems, and profit accordingly. The vice president is, not for the first time, wrong: His administration's remittance tax doesn't attack the cartels, it empowers them.
Time of India
8 hours ago
- Time of India
Scorpio Daily Horoscope Today, June 02, 2025: Faith reminds you of your strength
Y ou may feel unsure of yourself lately, but today, someone close to you reminds you of your true strength. A word of support or unexpected faith in you becomes the mirror you needed. Let others believe in you when you struggle to believe in yourself. Their kindness is not a weakness—it is a bridge. Take that hand, accept the encouragement. The spark returns when you see yourself through someone else's eyes. Scorpio Love Horoscope Today In love, today's emotions run deep but healing is possible. If in a relationship, your partner may say something that touches your heart and rebuilds lost trust. Listen without pushing the moment away. Let it in. Often, we block love because we feel we don't deserve it. But love today wants to remind you—you are worthy. Allow the bond to grow from mutual faith and gentle emotion, not fear. Scorpio Career Horoscope Today In your career, self-doubt may slow your steps. But someone at work may offer quiet support or remind you of your past success. Don't dismiss their faith. Your inner critic may be loud, but others see your value clearly. A small compliment, shared task, or simple encouragement can bring back lost motivation. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like เทรด Bitcoin และ Ethereum - ไม่ต้องใช้กระเป๋าเงิน! IC Markets เริ่มต้นตอนนี้ Undo Don't carry everything alone. Today is a reminder that asking for help is not weakness. Believe in your path again, even if it means starting with one confident step. Scorpio Money Horoscope Today Money matters today are steady, but your emotions may make you feel like you are behind. Don't judge your financial progress by what others are doing. A friend or family member may offer helpful advice or even small support—accept it with gratitude. You are not expected to do it all alone. Financial wisdom often grows when shared. Avoid big decisions today and focus on organizing what you have. Tomorrow is built on today's peace. Your worth is not in your wallet, but in your wisdom. Scorpio Health Horoscope Today Physically, you may feel heavy or tired, not from illness but emotional weight. Carrying inner pressure alone has built tension in your body. Shoulders, chest, or eyes may feel strained. Today, a small emotional release—like crying, journaling, or talking—can ease that burden. Someone's kind words or faith in you can also heal what no medicine can. Eat light food, avoid overthinking, and rest more. Your healing comes faster when you allow others to care for you. Let the softness bring back your strength. Discover everything about astrology at the Times of India , including daily horoscopes for Aries , Taurus , Gemini , Cancer , Leo , Virgo , Libra , Scorpio , Sagittarius , Capricorn , Aquarius , and Pisces .
Mint
a day ago
- Mint
‘It Is Going to Happen': JPMorgan CEO Jamie Dimon Warns of Crack in Bond Market
JPMorgan Chase CEO Jamie Dimon warned of a crack in the bond market and said the U.S. should be stockpiling military equipment instead of Bitcoin at an economic forum on Friday. Dimon, who was interviewed on stage at the Reagan National Economic Forum in Simi Valley, Calif., prompted some market jitters during Friday's sideways trading session. Asked if he thought so-called 'bond vigilantes" that sell U.S. Treasuries due to worries about growing deficits have returned, Dimon replied 'Yeah." The bank executive pointed to trillions of dollars in borrowing and spending in the wake of the Covid-19 pandemic, which he described as 'huge sums of money, and we don't really know the full effect of that." 'You are going to see a crack in the bond market," Dimon said. 'It is going to happen. And I tell this to my regulators, some of you who are in this room, I'm telling you it's going to happen, and you're going to panic." 'I'm not gonna panic," he added. 'We'll be fine. We'll probably make more money, and then some of my friends will tell me 'We like crises because it's good for JPMorgan Chase.' Not really." Government debt has been in focus after the U.S. lost its last perfect Aaa rating earlier this month when Moody's downgraded U.S. sovereign debt to AA+. The yield on the 30-year Treasury note jumped 0.25 percentage point in May, its largest one-month gain since December, according to Dow Jones Market Data. It set a 52-week high north of 5% on May 21. Dimon also warned of the 'enemy within" in the U.S., calling for a unified front and fixes to things like permitting, regulations, immigration, taxation, schools, and healthcare, among other issues. But he argued the most important issue was maintaining military alliances and the strongest military in the world. 'If we are not the preeminent military and the preeminent economy in 40 years, we will not be the reserve currency," Dimon said. 'That's a fact. Just read history." He said the U.S. has to 'get our act together, and we have to do it very quickly." He also weighed in on the Trump administration's Bitcoin efforts to amass large quantities of the cryptocurrency and the U.S. dollar's current status as the world's reserve currency. 'We shouldn't be stockpiling Bitcoin," Dimon said. 'We should be stockpiling guns, bullets, tanks, planes, drones, you know, rare earths." Write to Connor Smith at
