Bitcoin trades above $106,000; Ethereum and Altcoins see mixed moves
Bitcoin price increased beyond $106,000. This surge happened because of reduced global tensions and strong investor interest. Ethereum also saw a rise. Market analysts suggest that Bitcoin might aim for $110,000 soon. Stablecoins are also becoming important in the crypto world. Tether is expanding its influence in the digital economy. Overall, the crypto market shows signs of growth and stability.
Tired of too many ads?
Remove Ads
Crypto TrackerPowered By
TOP COINS
TOP COIN SETS Ethereum
2,09,972 (
0.55 %) Buy Bitcoin
91,44,017 (
0.5 %) Buy BNB
55,471 (
0.4 %) Buy Solana
12,569.37 (
-0.09 %) Buy XRP
187.39 (
-0.71 %) Buy
Tired of too many ads?
Remove Ads
Bitcoin climbed above the $106,000 mark on Wednesday, buoyed by easing geopolitical tensions, institutional interest, and sustained whale activity.As of 11:17 am IST, the world's largest cryptocurrency was up 1% at $106,345, while Ethereum rose 0.6% to $2,435. The overall crypto market gained 0.6%, reaching a market capitalisation of $3.27 trillion, according to CoinMarketCap.Among major altcoins, BNB, Solana, Tron, and Chainlink posted gains of up to 1%. However, others like XRP, Cardano, Sui, Stellar, Avalanche, Toncoin, and Shiba Inu fell as much as 3%, indicating selective investor optimism across the broader market.Shivam Thakral, CEO of BuyUcoin, attributed Bitcoin's recent rally to improved geopolitical conditions. 'Bitcoin has seen a sharp rally following the announcement of a ceasefire between Iran and Israel, recovering from a recent dip amid heightened geopolitical tensions,' he said. 'The crypto is stabilising between $104,800 and $106,700.'He also noted the influence of U.S. Federal Reserve policy. 'The Fed chief has reiterated a commitment to tackle inflation and is not in a hurry to cut interest rates, which could affect liquidity in the short to mid-term,' Thakral added.Riya Sehgal, Research Analyst at Delta Exchange, said Bitcoin is consolidating near $106,000 after breaking out of a mid-term descending structure. 'A move above $107,500 could push it toward $110,000–112,000. If $106,000 fails, key supports lie at $105,500 and $104,000,' she said, adding that current price action reflects a trend of higher highs and higher lows with whales accumulating and long-term holders staying firm.On Ethereum, Sehgal said, 'It has recovered from $2,160 and is now near $2,440. A breakout above $2,520 could target $2,650–2,800, while support lies at $2,320–2,360.' She also highlighted ETF inflows on 24/06, where $588.6 million worth of Bitcoin and $71.3 million in Ethereum were bought, suggesting continued institutional appetite.Edul Patel, Co-founder and CEO of Mudrex, said Bitcoin is extending its upward momentum as bulls regain control. 'On-chain data shows a spike in Taker Buy volume, indicating strong conviction from aggressive buyers,' he said. 'Dovish Fed commentary on recession and rate cuts has also lifted sentiment.'Patel sees the $104,400 level as strong support, with a possible breakout above $108,000 if buying continues.Himanshu Maradiya, Founder and Chairman of CIFDAQ, said that while Bitcoin and Ethereum have bounced back, the more significant action is happening in stablecoins. 'Circle's market cap briefly surpassed Coinbase's, and Tether—fresh off $13.7 billion in profits—is building a U.S.-native stablecoin while complying with the GENIUS Act,' he said.'Tether now holds over 100,000 BTC and is positioning itself as a global mining force. This signals a maturing digital economy where infrastructure—not just prices—will define long-term value,' Maradiya added.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Standard
4 minutes ago
- Business Standard
China Shanghai Composite index surge 1.04%
Asian stocks ended on a cautious note Wednesday after rising sharply in the previous session on Israel-Iran ceasefire relief. A U.S.-brokered ceasefire between Israel and Iran appeared to be holding but elsewhere, Israel's army said seven of its soldiers were killed in combat in Gaza, where the war with Palestinian militant group Hamas continued. The U.S. dollar struggled to regain lost ground in Asian trade after Federal Reserve Chair Jerome Powell gave balanced comments on prospects for rate cuts. Gold edged up slightly after sharp losses in the prior session. Oil prices jumped nearly 2 percent but held near multi-week lows on the prospect that crude oil flows would not be disrupted. China's Shanghai Composite surged 1.04 percent to 3,455.97 and Hong Kong's Hang Seng index jumped 1.23 percent to 24,474.67 amid bets that Fed rate cuts amid a slump in oil prices will weaken the U.S. dollar and spur inflows to Asian markets.
Time of India
15 minutes ago
- Time of India
Gold price remains low. Check latest gold rate prediction by experts
Gold steadied on Wednesday after falling in the previous session. Spot gold was little changed at $3,325.56 per ounce. US gold futures were up 0.2 per cent at $3,339.30. On Tuesday, prices hit their lowest in over two weeks. Global central banks are eyeing a move away from the dollar into gold, the euro and China's yuan for their reserves amid geopolitical upheaval, a report showed. Gold Rate Prediction De-escalation of tension in the Middle East, and less need for safe-haven assets, was a reason for gold giving up earlier gains yesterday. Still, uncertainty about the future of Iran's nuclear program is likely to keep investors still preferring to hold some gold allocation, said Giovanni Staunovo, an analyst at UBS. The dollar index struggled to regain lost ground as investors decided to take on more risk following the truce. A weaker dollar makes greenback-priced bullion more attractive for holders of other currencies. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like If You Eat Ginger Everyday for 1 Month This is What Happens Tips and Tricks Undo The ceasefire brokered by US President Donald Trump between Iran and Israel appeared to be holding on Wednesday, the day after both countries signalled that their air war had ended. The market's focus is now on first-quarter US GDP data due on Thursday, which will offer insights into the pace of economic growth. On Friday, attention turns to the closely watched Personal Consumption Expenditures (PCE) report, the Federal Reserve's preferred inflation gauge. Will Gold Price Rise? Live Events If the PCE data comes in on the lower side, the pressure on the Fed to cut rates will increase and help gold, Staunovo said. Fed Chair Jerome Powell told members of Congress on Tuesday that higher tariffs could begin raising inflation this summer. Meanwhile, data showed U.S. consumer confidence unexpectedly deteriorated in June. Gold is seen as a safe haven during turmoil and tends to perform well in low interest rate environments. Spot silver dipped 0.6 per cent to $35.70, platinum lost 1.7 per cent to $1,294.06, while palladium fell 2 per cent to $1,044.92. FAQs Q1. What are current price of Silver? A1. Spot silver dipped 0.6 per cent to $35.70, platinum lost 1.7 per cent to $1,294.06, while palladium fell 2 per cent to $1,044.92. Q2. Why is gold important? A2. Gold is seen as a safe haven during turmoil and tends to perform well in low interest rate environments.
Time of India
25 minutes ago
- Time of India
US stock market futures steady as Dow, S&P 500, Nasdaq hover near record highs amid Fed rate cut hopes and Middle East ceasefire stability
US Stock market today remains steady as Dow, S&P 500, and Nasdaq futures trade flat near record highs. Hopes for interest rate cuts grew after Fed Chair Jerome Powell signaled that rate reductions could happen 'sooner rather than later.' Investors are closely watching Powell's second round of testimony today and the upcoming May PCE inflation report, the Fed's preferred inflation gauge. Meanwhile, calm in the Middle East, thanks to a US-brokered ceasefire between Israel and Iran under President Trump, is adding stability. Traders now await key data to see if a fresh rally can push markets to all-time highs. US Stock market today holds steady as Dow, S&P 500, and Nasdaq futures stay near record highs. Fed Chair Powell's comments boost hopes for rate cuts. Investors eye May PCE inflation report and US-led ceasefire between Iran and Israel under President Trump. Tired of too many ads? Remove Ads What are the top stocks making headlines today, June 25? Mega-cap stocks performance today Apple (AAPL) is trading around $200.30 , slipping slightly by 0.58% in early hours. Still, its massive $3.28 trillion valuation keeps it firmly in the lead among U.S. tech giants. is trading around , slipping slightly by in early hours. Still, its massive $3.28 trillion valuation keeps it firmly in the lead among U.S. tech giants. Microsoft (MSFT) climbed modestly to $490.11 , gaining about 0.86% , supported by steady cloud and AI demand. climbed modestly to , gaining about , supported by steady cloud and AI demand. Amazon (AMZN) is trading up at $212.77 , adding 2.08% after bullish forecasts from analysts. is trading up at , adding after bullish forecasts from analysts. Nvidia (NVDA) advanced to $147.90, up nearly 2.55%, as investors remain optimistic about AI chip demand and strong upward momentum. Which stocks are making the biggest moves today? Gainers QuantumScape skyrocketed 35% after announcing a major breakthrough in EV battery development. skyrocketed after announcing a major breakthrough in EV battery development. BlackBerry surged 9% on stronger-than-expected earnings. surged on stronger-than-expected earnings. Nvidia continued its record-breaking streak as investor confidence in AI remains high. Losers FedEx tumbled around 5-6% after issuing a cautious earnings outlook, even though it beat Q4 estimates. tumbled around after issuing a cautious earnings outlook, even though it beat Q4 estimates. Micron pulled back slightly as traders wait for Q3 earnings after a solid 52% run-up this year Tired of too many ads? Remove Ads Is the Federal Reserve preparing to cut rates sooner than expected? What does the May PCE report mean for rate cut expectations? How is the US-brokered Middle East ceasefire affecting markets? US stock market futures today: Dow, S&P 500, Nasdaq trade steady ahead of Powell speech and key inflation data Latest Futures Data (June 25, Midday Update): Dow Jones futures: ~43,392, down slightly by 0.03% S&P 500 futures: ~6,144.5, up by 0.02% Nasdaq 100 futures: ~22,430, rising 0.10% Which stocks are driving the gains in S&P 500 and Nasdaq? Tired of too many ads? Remove Ads Key takeaways for June 25 Big tech is still in charge : Microsoft, Nvidia, and Apple continue to anchor the market's strength. : Microsoft, Nvidia, and Apple continue to anchor the market's strength. Watch earnings : FedEx and Micron's results could set the tone for logistics and chip sectors. : FedEx and Micron's results could set the tone for logistics and chip sectors. AI and EVs: QuantumScape and Nvidia are proof that investor money is following innovation. Could record highs be within reach again this week? FAQs: US stock market today stayed largely steady as futures tied to the Dow Jones, S&P 500, and Nasdaq 100 hovered near record levels early Wednesday. Investors held onto hopes for interest rate cuts after Federal Reserve Chair Jerome Powell hinted at quicker policy moves during his testimony to Congress. Meanwhile, geopolitical tensions in the Middle East remained calm for now, with a US-brokered ceasefire between Israel and Iran showing signs of stability under President Donald Trump's diplomatic Tuesday, the S&P 500 ended the day at its highest closing level since February. Futures contracts for the S&P 500 (ES=F) were nearly flat Wednesday morning. Dow Jones Industrial Average (YM=F) and Nasdaq 100 (NQ=F) futures also traded sideways, following a positive session driven by both political and monetary opened strong this Wednesday with tech giants and AI leaders driving momentum on Wall Street. Here's a look at the key players moving the markets today:Here are today's biggest gainers and losers in the U.S. stock market:Markets received a notable lift on Tuesday after Jerome Powell, the Federal Reserve Chair, told lawmakers that officials could begin lowering interest rates 'sooner rather than later.' His remarks came during his semi-annual testimony before Congress and reignited investor confidence in upcoming rate optimism will be tested again as Powell delivers more testimony Wednesday. Traders have now increased their bets that a Fed rate cut might happen as soon as September, depending on the next round of economic eyes are now on Friday's release of the May Personal Consumption Expenditures (PCE) report, which is the Fed's preferred inflation gauge. Economists are predicting a modest uptick in core PCE compared to inflation remains in check or improves, it could give the Federal Reserve more flexibility to move forward with monetary policy easing, which could further support stock market growth in the second half of the between Israel and Iran have cooled following a ceasefire agreement brokered by President Trump. Since the agreement, there have been no reported military strikes between the two Trump, who publicly criticized both countries last week for violating the terms of the deal, is now pushing for more diplomatic engagement. The apparent calm in the region has eased fears of a broader conflict and helped maintain investor confidence across global stock market futures are holding mostly flat today, showing caution as investors wait for more signals from the Federal Reserve and fresh economic data. The calm in the Middle East, thanks to the US-brokered ceasefire between Israel and Iran, is also helping stabilize market stocks continue to provide a solid backbone for gains in the Nasdaq 100, with names like Nvidia, Apple, and Microsoft maintaining strong momentum. These companies have benefitted from ongoing AI investment trends and favorable market the S&P 500's recent highs reflect a broad-based rally across sectors, though financials and industrials have shown strength, especially in response to positive economic signals and cooling inflation stock market futures stable and optimism still intact, investors are watching closely to see if the Dow, S&P 500, and Nasdaq can hit new all-time highs. The next big test will be Powell's second round of comments today and the release of the May PCE data on these events support the narrative of falling inflation and coming rate cuts, markets could break past current levels and enter a fresh bull phase. Until then, traders are likely to stay cautious but Jerome Powell hinted the Fed could cut rates 'sooner rather than later.'Yes, the US-brokered ceasefire under President Trump is still holding with no new strikes reported.
