Latest news with #Subburaj
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Business Standard
4 days ago
- Business
- Business Standard
Bitcoin surges above $117k as Trump's 401(k) order sparks altcoin rally
The cryptocurrency market is showing renewed strength as Bitcoin (BTC) surged back above the $117,000 level, sparking significant rallies in major altcoins such as Ethereum (ETH), Ripple (XRP), and Solana (SOL), which gained up to 11 per cent. This bullish momentum comes on the heels of US President Donald Trump signing an executive order to expand 401(k) (employer-sponsored retirement savings plan) access to alternative assets, aiming to improve returns and diversification. By directing regulators to clarify investment guidelines, the order is poised to unlock the massive $8.9 trillion retirement savings market to cryptocurrencies—a development that analysts believe is fueling fresh optimism and institutional interest in the crypto space. Bitcoin price today Though the move pushed Bitcoin over $117,600 for a while, the flagship currency has since slipped below the $117,000 mark due to profit booking at higher levels. At the last check, Bitcoin was trading around $116,659.59, up 1.82 per cent, with a 24-hour trading volume of $66.45 billion, according to CoinMarketCap. Bitcoin has fluctuated between $114,545.02 and $117,689.20 in the last 24 hours. BTC is currently trading 5.2 per cent lower from its all time high of $123,091 scaled on July 14 this year. Analysts weigh in Fresh buying, Edul Patel, Co-founder and CEO of Mudrex, said, was largely driven by Trump's order allowing 401(k) plans to diversify into digital assets. "This opens the $8.9 trillion market to crypto, bringing in significant inflows and supporting ongoing institutional adoption." Echoing similar views, Vikram Subburaj, CEO of Giottus, said that Trump's order to include crypto in 401(k) retirement plans in the U.S. adds legitimacy to the asset class and provides additional long-term buying power. "Along with improving odds of an interest rate cut next month, this should ensure bullishness for the next couple of weeks," Subburaj added. On the technical front, Patel believes Bitcoin's immediate resistance stands at $118,500, while support has moved above $115,000, allowing room for potential upside. Subburaj, on the other hand, believes Bitcoin must hold above $116,000 for altcoins to outperform, with $120,000 being the next key level for strong trend continuation. Ethereum outperforms The bullish sentiments were more apparent among the altcoins, with Ethereum hovering near the crucial resistance zone of $4,000. ETF inflows remain robust, with $222.3 million for ETH, reflecting sustained institutional demand. At the last check, it was trading around $3,917.34, higher by 6.19 per cent, with a 24-hour trading volume of $17.47 billion, according to CoinMarketCap. Meanwhile, Ethereum dominance has crossed 12 per cent for the first time since early 2025, while Bitcoin dominance has slipped to 60 per cent. According to Riya Sehgal, Research Analyst at Delta Exchange, this indicates capital rotation into ETH and select altcoins like XRP, LINK, and SUI. "This shift in market structure suggests altcoin strength could persist in the short term, with potential for a broader consolidation phase before the next leg higher," said Sehgal. Further, among other popular cryptocurrencies, Ripple (XRP) gained 11.14 per cent, Hyperliquid (HYPE) was trading higher by 6 per cent, Cardano (ADA) was up 7.59 per cent, Solana (SOL) rose 3.3 per cent, and Binance Coin (BNB) was up 2.42 per cent.
Time of India
01-08-2025
- Business
- Time of India
Bitcoin slips below $115,200 as U.S. tariffs rattle markets; Ethereum, Solana, Dogecoin fall up to 8%
The global cryptocurrency market declined sharply on Friday, with Bitcoin dropping below the $115,200 mark amid fresh U.S. tariffs and a wave of profit booking that triggered widespread liquidations. As of 12:30 pm IST, Bitcoin was trading at $115,149, down 3%, while Ethereum fell 5.5% to $3,663, according to CoinMarketCap. The total global crypto market capitalisation dropped 3.82% to $3.75 trillion, reflecting risk-off sentiment across the board. Explore courses from Top Institutes in Please select course: Select a Course Category Data Science Artificial Intelligence MCA Management Operations Management Public Policy MBA Product Management Project Management Leadership Technology Data Science CXO Digital Marketing Others Design Thinking Data Analytics Finance healthcare others Skills you'll gain: Duration: 30 Weeks IIM Kozhikode SEPO - IIMK-AI for Senior Executives India Starts on undefined Get Details Skills you'll gain: Duration: 10 Months E&ICT Academy, Indian Institute of Technology Guwahati CERT-IITG Prof Cert in DS & BA with GenAI India Starts on undefined Get Details Skills you'll gain: Duration: 10 Months E&ICT Academy, Indian Institute of Technology Guwahati CERT-IITG Prof Cert in DS & BA with GenAI India Starts on undefined Get Details Skills you'll gain: Duration: 11 Months IIT Madras CERT-IITM Advanced Cert Prog in AI and ML India Starts on undefined Get Details Skills you'll gain: Duration: 10 Months E&ICT Academy, Indian Institute of Technology Guwahati CERT-IITG Prof Cert in DS & BA with GenAI India Starts on undefined Get Details Skills you'll gain: Duration: 10 Months IIM Kozhikode CERT-IIMK DABS India Starts on undefined Get Details by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Average Cost To Rent A Private Jet May Surprise You (View Prices) Private Jet I Search Ads Learn More Undo Major altcoins joined the downturn. XRP and Solana both fell over 6%, while Dogecoin, Cardano, Hyperliquid, Stellar, Sui, and Chainlink registered losses ranging from 7% to nearly 10%. Crypto Tracker TOP COIN SETS BTC 50 :: ETH 50 -2.56% Buy Smart Contract Tracker -4.48% Buy Web3 Tracker -7.77% Buy DeFi Tracker -9.62% Buy NFT & Metaverse Tracker -11.13% Buy TOP COINS (₹) Bitcoin 10,028,472 ( -3.55% ) Buy BNB 67,453 ( -4.27% ) Buy Ethereum 317,607 ( -6.15% ) Buy XRP 257 ( -6.76% ) Buy Solana 14,737 ( -7.13% ) Buy 'Bitcoin slid 3% to trade near $115,300 as fresh US tariffs and a major profit-taking wave put pressure on crypto,' said Vikram Subburaj, CEO of Giottus. 'Over $635 million in leveraged positions were flushed out, mostly from long traders caught in a sharp intraday reversal.' 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 » Subburaj said that Bitcoin's $115,000 level remains critical. 'As long as BTC holds this level, the broader uptrend is intact. Heatmaps show heavy short interest above $120,000 and long liquidation zones below $115,000. If sellers push further, the $111,000–$115,000 range will be crucial for bouncebacks.' Live Events According to data from Coinglass, total crypto market liquidations stood at $630.68 million over the past 24 hours, with nearly 90% coming from long positions. The selloff was largely attributed to macroeconomic concerns. 'The nearly 3% dip in the global market cap is primarily driven by the Fed's warning on slowing growth and new trade tariffs,' said Riya Sehgal, Research Analyst at Delta Exchange. 'Despite the drop, Bitcoin closed July above $115,000—its highest monthly close ever—showing long-term resilience.' Sehgal added that the BTC options market remains cautiously optimistic. 'A Put-Call Ratio of 0.65 and visible call buildup between $116K–$120K suggests bullish expectations. Meanwhile, unwinding of puts near $109K–$111K signals weakening bearish sentiment.' While Ethereum briefly dropped to $3,600, it quickly rebounded above $3,700, supported by retail dip-buying and continued inflows into spot ETFs , which now total $21.85 billion. 'ETH is holding ground around $3,700 despite a 5% decline,' said the CoinSwitch Markets Desk. 'Momentum may return if BTC reclaims the $116,100–$116,200 range. Tether's strong Q2 profit of $4.9 billion also highlights growing interest in stablecoins amid improving regulatory clarity in the U.S.' Meanwhile, despite near-term volatility, analysts remain bullish on the long-term structure of the market. 'Bitcoin remains in a healthy buy-the-dip zone,' said Parth Srivastava, Head of Quant at 9Point Capital. 'Institutional demand continues to absorb supply, and we expect consolidation to lead to a fresh breakout heading into Q4.'
Time of India
01-08-2025
- Business
- Time of India
Trump tariff jitters: Bitcoin dips below Rs 115,200; crypto market cap down by 3.82%
AI-generated image The cryptocurrency market saw a sharp downturn on Friday, with Bitcoin slipping below $115,200 amid fresh US tariffs and widespread profit-taking that triggered large-scale liquidations. Bitcoin was trading at $115,149, down 3 per cent, while Ethereum dropped 5.5 per cent to $3,663 at 12.30 pm IST, according to CoinMarketCap data cited by Economic Times. The total global crypto market capitalisation declined 3.82 per cent to $3.75 trillion, reflecting broader risk-off sentiment. Altcoins mirrored the slide. XRP and Solana fell over 6 per cent, while Dogecoin, Cardano, Hyperliquid, Stellar, Sui, and Chainlink posted losses of 7–10 per cent. 'Bitcoin slid 3% to trade near $115,300 as fresh US tariffs and a major profit-taking wave put pressure on crypto,' said Vikram Subburaj, CEO of Giottus, quoted by ET. 'Over $635 million in leveraged positions were flushed out, mostly from long traders caught in a sharp intraday reversal.' Subburaj pointed to Bitcoin's $115,000 level as a key support. 'As long as BTC holds this level, the broader uptrend is intact. Heatmaps show heavy short interest above $120,000 and long liquidation zones below $115,000. If sellers push further, the $111,000–$115,000 range will be crucial for bouncebacks.' by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like We Have No Words For Dog The Bounty Hunter's Transformation Cash Roadster Undo According to Coinglass, total crypto market liquidations reached $630.68 million in 24 hours, with long positions accounting for nearly 90 per cent. Analysts attributed the selloff to macroeconomic concerns and renewed trade tensions. 'The nearly 3% dip in the global market cap is primarily driven by the Fed's warning on slowing growth and new trade tariffs,' said Riya Sehgal, Research Analyst at Delta Exchange, cited by the financial daily. 'Despite the drop, Bitcoin closed July above $115,000—its highest monthly close ever—showing long-term resilience.' Sehgal highlighted signs of cautious optimism in the BTC options market. 'A Put-Call Ratio of 0.65 and visible call buildup between $116K–$120K suggests bullish expectations. Meanwhile, unwinding of puts near $109K–$111K signals weakening bearish sentiment.' Ethereum briefly dipped to $3,600 but recovered above $3,700, supported by retail buying and continued inflows into spot ETFs, which have now topped $21.85 billion. 'ETH is holding ground around $3,700 despite a 5% decline,' said the CoinSwitch Markets Desk. 'Momentum may return if BTC reclaims the $116,100–$116,200 range. Tether's strong Q2 profit of $4.9 billion also highlights growing interest in stablecoins amid improving regulatory clarity in the US. ' Despite the pullback, the broader outlook remains positive, analysts said. 'Bitcoin remains in a healthy buy-the-dip zone,' said Parth Srivastava, Head of Quant at 9Point Capital. 'Institutional demand continues to absorb supply, and we expect consolidation to lead to a fresh breakout heading into Q4.' Stay informed with the latest business news, updates on bank holidays and public holidays . Discover stories of India's leading eco-innovators at Ecopreneur Honours 2025
Economic Times
01-08-2025
- Business
- Economic Times
Bitcoin slips below $115,200 as U.S. tariffs rattle markets; Ethereum, Solana, Dogecoin fall up to 8%
The global cryptocurrency market declined sharply on Friday, with Bitcoin dropping below the $115,200 mark amid fresh U.S. tariffs and a wave of profit booking that triggered widespread liquidations. As of 12:30 pm IST, Bitcoin was trading at $115,149, down 3%, while Ethereum fell 5.5% to $3,663, according to CoinMarketCap. The total global crypto market capitalisation dropped 3.82% to $3.75 trillion, reflecting risk-off sentiment across the board. Major altcoins joined the downturn. XRP and Solana both fell over 6%, while Dogecoin, Cardano, Hyperliquid, Stellar, Sui, and Chainlink registered losses ranging from 7% to nearly 10%.'Bitcoin slid 3% to trade near $115,300 as fresh US tariffs and a major profit-taking wave put pressure on crypto,' said Vikram Subburaj, CEO of Giottus. 'Over $635 million in leveraged positions were flushed out, mostly from long traders caught in a sharp intraday reversal.'Subburaj said that Bitcoin's $115,000 level remains critical. 'As long as BTC holds this level, the broader uptrend is intact. Heatmaps show heavy short interest above $120,000 and long liquidation zones below $115,000. If sellers push further, the $111,000–$115,000 range will be crucial for bouncebacks.' According to data from Coinglass, total crypto market liquidations stood at $630.68 million over the past 24 hours, with nearly 90% coming from long positions. The selloff was largely attributed to macroeconomic concerns.'The nearly 3% dip in the global market cap is primarily driven by the Fed's warning on slowing growth and new trade tariffs,' said Riya Sehgal, Research Analyst at Delta Exchange. 'Despite the drop, Bitcoin closed July above $115,000—its highest monthly close ever—showing long-term resilience.'Sehgal added that the BTC options market remains cautiously optimistic. 'A Put-Call Ratio of 0.65 and visible call buildup between $116K–$120K suggests bullish expectations. Meanwhile, unwinding of puts near $109K–$111K signals weakening bearish sentiment.' While Ethereum briefly dropped to $3,600, it quickly rebounded above $3,700, supported by retail dip-buying and continued inflows into spot ETFs, which now total $21.85 billion. 'ETH is holding ground around $3,700 despite a 5% decline,' said the CoinSwitch Markets Desk. 'Momentum may return if BTC reclaims the $116,100–$116,200 range. Tether's strong Q2 profit of $4.9 billion also highlights growing interest in stablecoins amid improving regulatory clarity in the U.S.'Meanwhile, despite near-term volatility, analysts remain bullish on the long-term structure of the market.'Bitcoin remains in a healthy buy-the-dip zone,' said Parth Srivastava, Head of Quant at 9Point Capital. 'Institutional demand continues to absorb supply, and we expect consolidation to lead to a fresh breakout heading into Q4.' (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
25-07-2025
- Business
- Business Standard
Bitcoin slips below $116k, Ethereum holds above $3600; altcoin trade higher
Crypto markets continued to trade sideways on Friday, July 25, 2025. The market saw $721.84 million in liquidations over the last 24 hours, with long positions accounting for $567.43 million. Ethereum and Bitcoin were the most impacted, with $164.20 million and $155.38 million in liquidations, respectively. With this, the flagship currency Bitcoin (BTC) has slipped below $116,000 levels. Ethereum (ETH), on the other hand, has shown some resistance and continued to trade higher. Last check, Bitcoin was quoted trading at $115,169.79, down 1.92 per cent, with 24-hour trading volume of $86.77 billion. BTC is currently 6.26 per cent down from its all-time high of $123,091 scaled nearly 11 days ago on July 14, on CoinMarketCap. The total market capitalisation of Bitcoin recorded at $2.29 trillion, cementing its position as the largest crypto coin by market cap. BTC has fluctuated in the range of $115,077.22 – $119,535.45 in the last 24 hours. Analysis weigh in The investors, Vikram Subburaj, CEO, Giottus, said, are anticipating a move towards $114,000–$115,000 to sweep liquidity. "Once it finds support in this region, Bitcoin can consolidate at these prices before it begins its next rally. Spot ETFs have registered net outflows this week confirming the trend," said Subburaj. Bitcoin's decline from $119,000 to below $116,000, Riya Sehgal, research analyst, Delta Exchange, believes triggered a wave of long liquidations, especially in the $117,000–$120,000 range, where over-leveraged positions were concentrated. "A liquidity buildup between $113,000 and $115,000 could act as short-term support, while the $120,000 level remains a strong resistance zone. On the institutional side, BTC ETFs recorded $226.7 million in inflows on July 24 after three days of outflows, suggesting cautious re-entry by larger investors amid broader market volatility," said Sehgal. Ethereum Altcoin trade higher Meanwhile, Ethereum has found its footing above $3,600, though it couldn't quite hold onto the gains that pushed it near $3,800 earlier this week. Last check it was trading with gains of 2.59 per cent at $3,625.76 levels with a 24-hour trading volume of $43.71 billion. Among other altcoins, Maple Finance (SYRUP), Ethena (ENA), Cronos (CRO), Curve DAO Token (CRV), XDC Network (XDC), Bitcoin Cash (BCH), Bonk (BONK), Monero (XMR), Sky (SKY), TRON (TRX) were the top gainers on CoinMarketCap, rising in the range of 4.24–25 per cent. (PUMP), on the other hand, was the top loser, trading lower by 19 per cent. Further, among the popular altcoins, Ripple (XRP) was trading higher by 1.22 per cent, Cardano (ADA) by 2.41 per cent, Solana (SOL) by 1 per cent, Sui (SUI) by 1.35 per cent, Binance Coin (BNB) by 1.44 per cent, and Hyperliquid (HYP) by 0.81 per cent.
