Latest news with #AlankarSaxena
Time of India
2 days ago
- Business
- Time of India
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.
Time of India
4 days ago
- Business
- Time of India
Crypto Prices Today: Bitcoin slips below $110,000 amid profit booking; Altcoins fall up to 5%
Bitcoin and other major cryptocurrencies were trading lower on Tuesday, reflecting cautious sentiment among traders despite continued institutional interest in the digital asset space. As of 12:49 PM IST, Bitcoin dropped 0.7% to $1,09,153, after briefly touching a high of $110,376. Ethereum also edged lower, down 0.11% to $2,583. The global cryptocurrency market capitalisation declined by 1% to $3.42 trillion, according to CoinMarketCap. 'Bitcoin briefly reclaimed the $110,000 mark before seeing some profit-taking at higher levels,' said Alankar Saxena, Co-founder and CTO of Mudrex. He added that despite the dip, market makers remain confident as Bitcoin options trade at a negative 6%—a pattern typically seen in bullish conditions. BTC faces resistance at $111,000 and support around $105,200, he noted. Crypto Tracker TOP COIN SETS DeFi Tracker 8.39% Buy Smart Contract Tracker 3.01% Buy BTC 50 :: ETH 50 2.95% Buy NFT & Metaverse Tracker 1.24% Buy Web3 Tracker -3.41% Buy TOP COINS (₹) Ethereum 222,755 ( 1.47% ) Buy BNB 58,108 ( 1.3% ) Buy Tether 85 ( 0.42% ) Buy Bitcoin 9,359,964 ( -0.03% ) Buy XRP 197 ( -1.53% ) Buy Shivam Thakral, CEO of BuyUcoin, echoed the sentiment, saying, 'The reason for the current dip might be profit booking by short-term traders who liquidated their positions to create fresh ones.' 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 » Despite the short-term weakness, analysts pointed to sustained institutional interest. Vikram Subburaj, CEO of Giottus, noted that while Bitcoin triggered $185 million in long liquidations on Binance in the past week, 'spot ETF inflows remain strong' and options data 'point to a market driven by demand and not leverage.' Live Events 'Recent moves like Strategy's $427 million Bitcoin purchase and JPMorgan opening access to Bitcoin ETFs signal growing institutional conviction,' he added. Delta Exchange Research Analyst Riya Sehgal also highlighted continued ETF inflows. 'Bitcoin's uptrend remains intact with higher highs and higher lows. The market is consolidating near the $110,000 level, awaiting a decisive breakout or breakdown. Meanwhile, Ethereum is range-bound between $2,450 and $2,750,' she said. Altcoins traded broadly in the red. Solana dropped 2.2%, Cardano 1.2%, Dogecoin 1.4%, Sui 5.2%, Avalanche 1.6%, XRP 2.6%, and Hyperliquid 4.4%. Bitcoin's dominance rose to 63.2%, with its market cap at $2.169 trillion. Daily trading volume, however, jumped 10.6% to $49.19 billion. Adding to the cautious sentiment, traders are monitoring macro developments such as the delayed U.S. tariffs on EU imports and potential crypto regulations. 'The U.S. Senate is expected to vote on the GENIUS Act, which could influence innovation in the sector,' said Thakral. FTX's second round of repayments could also inject liquidity into the market, potentially boosting trading activity.
Economic Times
4 days ago
- Business
- Economic Times
Crypto Prices Today: Bitcoin slips below $110,000 amid profit booking; Altcoins fall up to 5%
Bitcoin price today: Traders are monitoring macro developments such as the delayed U.S. tariffs on EU imports and potential crypto regulations. Bitcoin price today: Bitcoin slipped below $110,000 amid profit booking, while altcoins declined up to 5%, reflecting cautious sentiment. Despite short-term weakness, institutional interest remains strong with steady ETF inflows and major purchases. Analysts view the dip as consolidation, with BTC support at $105,200 and resistance at $111,000. Market watchers are also eyeing regulatory developments and FTX-related liquidity events. Tired of too many ads? Remove Ads Crypto TrackerPowered By TOP COINS TOP COIN SETS Ethereum 2,23,745 ( 1.92 %) Buy BNB 58,219 ( 1.41 %) Buy Tether 85.42 ( 0.37 %) Buy Bitcoin 93,68,394 ( 0.12 %) Buy XRP 197.23 ( -1.45 %) Buy Bitcoin and other major cryptocurrencies were trading lower on Tuesday, reflecting cautious sentiment among traders despite continued institutional interest in the digital asset of 12:49 PM IST, Bitcoin dropped 0.7% to $1,09,153, after briefly touching a high of $110,376. Ethereum also edged lower, down 0.11% to $2,583. The global cryptocurrency market capitalisation declined by 1% to $3.42 trillion, according to CoinMarketCap.'Bitcoin briefly reclaimed the $110,000 mark before seeing some profit-taking at higher levels,' said Alankar Saxena, Co-founder and CTO of Mudrex. He added that despite the dip, market makers remain confident as Bitcoin options trade at a negative 6%—a pattern typically seen in bullish conditions. BTC faces resistance at $111,000 and support around $105,200, he Thakral, CEO of BuyUcoin, echoed the sentiment, saying, 'The reason for the current dip might be profit booking by short-term traders who liquidated their positions to create fresh ones.'Despite the short-term weakness, analysts pointed to sustained institutional interest. Vikram Subburaj, CEO of Giottus, noted that while Bitcoin triggered $185 million in long liquidations on Binance in the past week, 'spot ETF inflows remain strong' and options data 'point to a market driven by demand and not leverage.''Recent moves like Strategy's $427 million Bitcoin purchase and JPMorgan opening access to Bitcoin ETFs signal growing institutional conviction,' he Exchange Research Analyst Riya Sehgal also highlighted continued ETF inflows. 'Bitcoin's uptrend remains intact with higher highs and higher lows. The market is consolidating near the $110,000 level, awaiting a decisive breakout or breakdown. Meanwhile, Ethereum is range-bound between $2,450 and $2,750,' she traded broadly in the red. Solana dropped 2.2%, Cardano 1.2%, Dogecoin 1.4%, Sui 5.2%, Avalanche 1.6%, XRP 2.6%, and Hyperliquid 4.4%.Bitcoin's dominance rose to 63.2%, with its market cap at $2.169 trillion. Daily trading volume, however, jumped 10.6% to $49.19 to the cautious sentiment, traders are monitoring macro developments such as the delayed U.S. tariffs on EU imports and potential crypto regulations. 'The U.S. Senate is expected to vote on the GENIUS Act, which could influence innovation in the sector,' said second round of repayments could also inject liquidity into the market, potentially boosting trading activity.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
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Business Standard
23-05-2025
- Business
- Business Standard
Bitcoin pauses around record high levels; Ethereum, Cordano blaze ahead
The bellwether cryptocurrency Bitcoin (BTC), after a continuous march in price discovery into uncharted territory, appears to take a breather as the price seems to be consolidating around the recent highs. As of 9:54 AM on Friday, May 23, Bitcoin was trading at around $110,886.55, lower by 0.40 per cent, with a 24-hour trading volume of $63.95 billion. Over the past 24 hours, Bitcoin has moved within a range of $110,293.12 to $111,970.17, according to data from CoinMarketCap. Bitcoin's market capitalisation stood at $2.2 trillion, making it the wor;ds largest cryptocurreny by market capitlasions. Bitcoin faces resistance at $112,600 Bitcoin, Alankar Saxena, Co-founder and CTO of Mudrex, said, is stabilising around $111,500 after hitting a new all-time high of $111,970, entering uncharted territory with strong momentum. "Moreover, institutional inflows have helped BTC maintain sustained momentum, with Spot ETFs seeing over $600 million in net inflows in a day. Additionally, the US Dollar Index has dropped more than 2.6 per cent over the last 10 days, making crypto an attractive hedge against inflation," said Saxena. For the flagship currency, Vikram Subburaj, CEO, Giottus Crypto Platform, believes that there are signs of continuation in the short term with $115,000 being the immediate target. "A pullback post this is likely given its overbought conditions, though the rally can extend like in December 2024. Market sentiment continues to strengthen with the Crypto Fear & Greed Index climbing to 78 (Extreme Greed)," said Subburaj. Altcoins trade higher Sentiments were favorable among other cryptocurrencies as well. Ethereum (ETH) was trading higher by 3.52 per cent at $2,713.79, with a trading volume of $26.97 billion. It has traded in the range of $2,603.36 - $2,731.22 in the last 24 hours. Ethereum's market capitalisation stood at $327.18 billion, marking it as the world's second-largest cryptocurrency by market capitalisation. That said, Ethereum is nearly 44 per cent lower from its all-time high of $4,891.70, scaled on November 16, 2021. Among other popular altcoins, Cardano (ADA) was trading higher by 5.33 per cent, followed by Solana (SOL) up 4.69 per cent, Ripple (XRP) up 2.14 per cent, and Binance Coin (BNB) up 0.15 per cent. Meanwhile, the US dollar-linked stablecoin Tether was trading at $0.99, down 0.01 per cent.
Mint
21-05-2025
- Business
- Mint
Crypto markets news: Bitcoin price above $1,07,000 levels today, experts eye long-term growth
Crypto markets news: The world's biggest cryptocurrency reached a high of $107,995 on May 21, but remained between the $106-107k levels during the day, according to data on CoinMarketCap. At time of writing, Bitcoin was at $106,706.27 up 1.50 per cent from the previous day, with market capitalisation of $2.12 trillion, up 1.50 per cent day-on-day, and trading volumes down 2.04 per cent to $53.65 billion. According to the CoinSwitch Markets Desk, this is the first time since January that Bitcoin has surged past the $107k level and is 2 per cent away from its all-time high, as bullish momentum intensified. 'Bitcoin futures open interest rose by 10.65 per cent from last week to $74.35 billion, led by Binance with $12.28B, signaling growing leverage in the market. Institutional demand also played a role, with US spot BTC ETFs recording net inflows of $41.7 million yesterday, marking their fifth consecutive day of inflows,' they said. Himanshu Maradiya, Founder and Chairman, CIFDAQ noted that the cryptocurrency market 'remains in a consolidation phase'. According to Alankar Saxena, Co-founder and CTO of Mudrex, Bitcoin continues to build momentum, briefly testing the $107,000 level as bulls maintain control. 'Net volume delta on major exchanges has turned positive, reflecting growing spot demand. Historically, an increase in spot demand often led to key market tops, driven by rapid sentiment shifts. Notably, Bitcoin supply on exchanges has dropped to 7.1 per cent, the lowest since November 2018, indicating rising investor confidence and a shift toward long-term holding.' He expects that this reduction in sell-side pressure indicates further upside. 'Currently trading near $106,800, BTC faces resistance at $108,000, with support at $105,000, setting the stage for its next potential breakout,' Saxena noted. According to Alex Kuptsikevich, market analyst at FxPro, Bitcoin is being driven upwards by a crowd of retail investors, who are also driving the US stock market. 'Small players don't care that the US economy is slowing down, and the Fed is not going to cut rates. Traders are buying the S&P 500 and digital assets simply because they are rising…Traders are not particularly concerned about the fact that as Bitcoin grows, the number of fraudulent transactions increases,' he pointed out. CoinDCX research team thinks so. 'After the bulls managed to revamp a strong rise before the day's close. Despite a small drop in the volume, the markets have surged, which indicates a drop in the bearish interference,' it noted. Riya Sehgal, Research Analyst at Delta Exchange concurs, she feels that rebounding from $103k levels to $106k levels shows 'solid buyer interest at lower levels', and that the focus will now be at potentially moving toward $110,000 and new all-time highs. 'However, until that level is convincingly breached, the market may continue ranging, allowing for healthy accumulation,' Sehgal added. While he did not talk about all-time highs, Kuptsikevich also feels that 'if the resistance at 107K is broken, there are more chances to restore the uptrend'. Meanwhile, the second largest token Ethereum rose 0.35 per cent over the past 24 hours to $2,529.76, at time of writing, with market cap of $305.41 billion and trading volume of $22.59 billion, according to CoinMarketCap data. CoinSwitch Markets Desk noted that the token is holding near the $2,500 level and trading above both its 50- and 100-day moving averages. In fact, according to Sehgal, it has been showing stronger relative strength, gaining nearly 60 per cent over the last month and outperforming Bitcoin. 'Ethereum is trading around the $2,500 mark, a key psychological resistance. While structural indicators like the Golden Cross and ascending trendlines suggest a bullish setup, on-chain data points to short-term overheating. Elevated trading volumes and profit-taking around $2,500 could trigger a minor pullback or consolidation. In the near term, we expect volatility to remain elevated, with ETH needing to hold above $2,200 and BTC above $105,000 to sustain bullish momentum. Broader market sentiment remains cautiously optimistic as we await further confirmation of trend continuation,' she said. Harish Vatnani, Head of Trade at ZebPay, Ethereum has seen swings, moving from recent lows of $1,385 to $2,738 in a 97 per cent prices surge, 'The asset currently faces strong resistance at $2,850. If it breaks and closes above this level with good volumes, we can expect prices to rally further to $3,000 and $3,350,' he noted. On other altcoins, CoinDCX noted that Litecoin, Cardano, and Solana, are yet to reach their respective resistance, while the top gainers include Pi, OFFICIAL TRUMP, and Fartcoin, with 10 per cent to 13 per cent gains. Meanwhile, Pyth Network leads the losers with over a 7 per cent drop, followed by Story and Litecoin with 4 per cent each. CoinSwitch also noted that in DeFi, 'Aave has solidified its dominance by surpassing $24 billion in total value locked (TVL), now accounting for 20 per cent of the entire DeFi's TVL'. According to Investopedia, TVL is a metric used in the cryptocurrency sector to determine the total US dollar value of digital assets locked, or staked, on a particular blockchain. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.
