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Economic Times
3 days ago
- Business
- Economic Times
Bitcoin crosses $120K on US crypto bill boost; Dogecoin, Hedera rally over 15%
Reuters Bitcoin surpassed $120,000, fueled by optimism surrounding US crypto regulation, particularly the GENIUS Act's passage, and sustained institutional investment. Bitcoin surged past the $120,000 mark on Friday, buoyed by growing optimism surrounding crypto regulation in the United States and continued institutional inflows. As of 12:49 pm IST, the world's largest cryptocurrency was trading 1.6% higher at $120,008, just shy of its intraday high of $120,999 and its all-time high near $123,000. Ethereum followed with a sharp rally, gaining 6.4% to $3,639. Broader altcoin sentiment remained strong, with XRP jumping 12% to $3.50, Dogecoin soaring 15%, and Chainlink and Hedera gaining 12% and 17%, respectively. Solana, BNB, Tron, and Stellar also posted solid gains ranging between 3.6% and 6%. Market enthusiasm was largely driven by news that the US House of Representatives passed the GENIUS Act—legislation focused on regulating stablecoins. The move is being seen as a landmark moment for the crypto industry, with the potential to pave the way for broader regulatory clarity and adoption."Bitcoin just smashed through $120,000, hitting $120,625 as crypto investors celebrate a huge win on Capitol Hill," said Shivam Thakral, CEO of BuyUcoin. "The House just passed the GENIUS Act, new rules for stablecoins that have Wall Street and crypto enthusiasts equally excited. This move is seen as a major milestone for crypto regulation and adoption in the United States."Vikram Subburaj, CEO of Giottus Crypto Platform, added that the bill's passage signals wider regulatory momentum. "While it particularly addresses stablecoins, it gives a wider stamp of approval for more favourable regulations that could be adopted globally. The altcoin market has rallied strongly with XRP and HBAR, two of the top US-based altcoins, gaining close to 20% each." According to Sathvik Vishwanath, Co-Founder & CEO of Unocoin, Bitcoin is consolidating near key resistance levels, signalling underlying strength. 'Bitcoin is currently trading around $120,091, consolidating just below its all-time high near $123,000. A breakout above $123K could trigger a rally toward $130K,' he added that price action is holding within a range of $117,715 to $120,999, with bulls defending the $118K–$120K support zone. 'This consolidation phase suggests strength. Institutional inflows via ETFs and recent U.S. regulatory support—like the GENIUS and CLARITY Acts—are boosting long-term investor confidence. While short-term corrections are possible, the broader trend remains bullish,' Vishwanath remained strong above $3,600, supported by robust inflows into spot ETFs. According to Riya Sehgal, Research Analyst at Delta Exchange, $726 million has flowed into ETH ETFs so far, with $500 million of that coming from BlackRock alone. 'Bitcoin is holding above $120,000 with support near $115,700. A close over $121,500 on rising volume could push it toward $125K–$126.2K,' Sehgal said. 'XRP's 12% jump and wider altcoin gains are being driven by optimism following the acceptance of three pro-crypto bills in the US House. ETF inflows, policy clarity, and legislative progress are all supporting the rally.' She also noted that while Bitcoin remains dominant with a 60% market share, capital rotation into Ethereum and other altcoins is increasing. 'The global crypto market cap is nearing $3.9 trillion, inching closer to Nvidia's $4.2 trillion valuation,' she added. (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
3 days ago
- Business
- Time of India
Bitcoin crosses $120K on US crypto bill boost; Dogecoin, Hedera rally over 15%
Bitcoin surged past the $120,000 mark on Friday, buoyed by growing optimism surrounding crypto regulation in the United States and continued institutional inflows. As of 12:49 pm IST, the world's largest cryptocurrency was trading 1.6% higher at $120,008, just shy of its intraday high of $120,999 and its all-time high near $123,000. Ethereum followed with a sharp rally, gaining 6.4% to $3,639. Broader altcoin sentiment remained strong, with XRP jumping 12% to $3.50, Dogecoin soaring 15%, and Chainlink and Hedera gaining 12% and 17%, respectively. Solana, BNB, Tron, and Stellar also posted solid gains ranging between 3.6% and 6%. Explore courses from Top Institutes in Select a Course Category Technology Public Policy healthcare Product Management Finance Cybersecurity Others MCA Operations Management Digital Marketing Artificial Intelligence Design Thinking CXO Project Management MBA PGDM Management Leadership Data Analytics Degree others Healthcare Data Science Data Science Skills you'll gain: Duration: 12 Weeks MIT xPRO CERT-MIT XPRO Building AI Prod India Starts on undefined Get Details Market enthusiasm was largely driven by news that the US House of Representatives passed the GENIUS Act—legislation focused on regulating stablecoins. The move is being seen as a landmark moment for the crypto industry, with the potential to pave the way for broader regulatory clarity and adoption. Crypto Tracker TOP COIN SETS Smart Contract Tracker 17.11% Buy NFT & Metaverse Tracker 16.92% Buy DeFi Tracker 15.11% Buy Web3 Tracker 13.94% Buy BTC 50 :: ETH 50 11.89% Buy TOP COINS (₹) XRP 298 ( 7.78% ) Buy Ethereum 310,754 ( 5.06% ) Buy BNB 63,514 ( 2.93% ) Buy Bitcoin 10,226,453 ( 0.49% ) Buy Tether 86 ( 0.21% ) Buy "Bitcoin just smashed through $120,000, hitting $120,625 as crypto investors celebrate a huge win on Capitol Hill," said Shivam Thakral, CEO of BuyUcoin. "The House just passed the GENIUS Act , new rules for stablecoins that have Wall Street and crypto enthusiasts equally excited. This move is seen as a major milestone for crypto regulation and adoption in the United States." 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 » Vikram Subburaj, CEO of Giottus Crypto Platform, added that the bill's passage signals wider regulatory momentum. "While it particularly addresses stablecoins, it gives a wider stamp of approval for more favourable regulations that could be adopted globally. The altcoin market has rallied strongly with XRP and HBAR, two of the top US-based altcoins , gaining close to 20% each." Live Events According to Sathvik Vishwanath, Co-Founder & CEO of Unocoin, Bitcoin is consolidating near key resistance levels, signalling underlying strength. 'Bitcoin is currently trading around $120,091, consolidating just below its all-time high near $123,000. A breakout above $123K could trigger a rally toward $130K,' he said. He added that price action is holding within a range of $117,715 to $120,999, with bulls defending the $118K–$120K support zone. 'This consolidation phase suggests strength. Institutional inflows via ETFs and recent U.S. regulatory support—like the GENIUS and CLARITY Acts—are boosting long-term investor confidence. While short-term corrections are possible, the broader trend remains bullish,' Vishwanath said. Ethereum remained strong above $3,600, supported by robust inflows into spot ETFs. According to Riya Sehgal, Research Analyst at Delta Exchange, $726 million has flowed into ETH ETFs so far, with $500 million of that coming from BlackRock alone. 'Bitcoin is holding above $120,000 with support near $115,700. A close over $121,500 on rising volume could push it toward $125K–$126.2K,' Sehgal said. 'XRP's 12% jump and wider altcoin gains are being driven by optimism following the acceptance of three pro-crypto bills in the US House. ETF inflows , policy clarity, and legislative progress are all supporting the rally.' She also noted that while Bitcoin remains dominant with a 60% market share, capital rotation into Ethereum and other altcoins is increasing. 'The global crypto market cap is nearing $3.9 trillion, inching closer to Nvidia's $4.2 trillion valuation,' she added. ( 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
3 days ago
- Business
- Business Standard
Crypto markets rally as US clears GENIUS Act; BTC holds $120k, ETH eyes $4k
Crypto markets surged with renewed momentum after the US House passed key crypto bills, including the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, signaling strong support for broader digital asset adoption. The other bills passed include the Digital Asset Market Clarity Act of 2025 and the Anti-CBDC Act. The approval of these crypto-related bills, analysts said, has boosted investor confidence and added regulatory clarity, driving strong upward momentum across the market. At last check, Bitcoin was trading at around $120,215, up 1.51 per cent, with a 24-hour trading volume of $498.7 billion. The flagship cryptocurrency has fluctuated between $117,508.22 and $120,999.61 over the past 24 hours on CoinMarketCap. Bitcoin is nearly 2.55 per cent away from its all-time high of $123,091, reached on July 14 this year. Its market cap stood at $2.39 trillion, the highest among all cryptocurrencies. Crypto markets, Vikram Subburaj, CEO of Giottus, said, have been re-energised after the US passed the GENIUS Act, adding strength to the broader crypto adoption narrative. US-based XRP and HBAR have rallied 18–22 per cent today in anticipation of more favourable laws in the country. Edul Patel, co-founder and CEO of Mudrex, also attributed the crypto market rally to the passing of these bills in the US House. "The crypto market is gaining strong upward momentum as the US House passed key crypto bills, boosting investor confidence and regulatory clarity," Patel said. "Crypto's rally appears to have further legs, but with the total market cap approaching a milestone at $4 trillion, some profit-taking could affect it in the short term," said Subburaj. He added, "As this plays out, traders are advised to stick to altcoins which have shown strength against BTC in the past 10 days." Ethereum (ETH) eyes $4000 Ethereum (ETH), on the other hand, continued its northward rally for yet another session and was holding above $3,500 levels. At last check, it was trading with gains of 7.48 per cent at $3,595, with a 24-hour trading volume of $53.33 billion. Ethereum, Patel said, "is eyeing the $4,000 level, with solid support at $3,300." Altcoins rally According to CoinSwitch Markets Desk, crypto markets remain in a powerful altcoin-led rally, with Bitcoin holding steady around $120,000 as BTC dominance slips to 61.6 per cent, down from 64 per cent just weeks ago—highlighting that nearly 38 per cent of top-50 tokens have outperformed BTC over the past 90 days, signaling an emerging altseason. The total altcoin market cap has swelled past $1.3 trillion, driven by Layer-1 gains (SUI up 36 per cent, SEI up 41 per cent) and memecoin momentum, while risk-on sentiment spreads with trad-fi investors taking risk at a 25-year high. Among other popular cryptocurrencies, Ripple (XRP) was rallying higher by 17 per cent, and Cardano (ADA) was up 14.45 per cent. "The risks remain, as looming tariff deadlines next month could derail global liquidity and spark volatility, while procedural stalls in the Senate could delay regulatory execution," they said.
Time of India
4 days ago
- Business
- Time of India
Crypto price today: Bitcoin holds above $118,000 as Altcoins rally; Ethereum surges nearly 9%
Bitcoin remained resilient above the $118,000 mark on Thursday, with the world's largest cryptocurrency trading 0.1% higher at $118,246 as of 1:55 pm IST. While Bitcoin showed signs of consolidation, Ethereum led the altcoin surge, jumping 8.8% to $3,441 and sparking broader bullish sentiment across the crypto market. Meanwhile, major altcoins posted healthy gains, with Solana rising 5.6%, Dogecoin up 7%, BNB advancing 4%, and Shiba Inu surging 5.2%. Chainlink, Tron, Avalanche, and Stellar also traded in the green, climbing between 1% and 4%. Explore courses from Top Institutes in Select a Course Category Finance Cybersecurity Digital Marketing healthcare Project Management Technology Data Science Artificial Intelligence Product Management Others Management Design Thinking Healthcare PGDM Data Analytics Leadership others Degree Public Policy Data Science Operations Management CXO MCA MBA Skills you'll gain: Duration: 7 Months S P Jain Institute of Management and Research CERT-SPJIMR Fintech & Blockchain India Starts on undefined Get Details Skills you'll gain: Duration: 9 Months IIM Calcutta SEPO - IIMC CFO India Starts on undefined Get Details by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villas For Sale in Dubai Might Surprise You Villas In Dubai | Search Ads Get Quote "Altcoins are gaining momentum, with Ethereum breaching the key $3,300 level. XRP, BNB and Solana advanced 4–5%, reflecting a seasonal shift from Bitcoin into alts," said Vikram Subburaj, CEO of Giottus. He added that Bitcoin is currently rangebound below $120,000 amid aggressive profit-taking, but strong support between $116,000 and $118,000 suggests robust long-term conviction among holders. Crypto Tracker TOP COIN SETS NFT & Metaverse Tracker 19.81% Buy Web3 Tracker 11.60% Buy Crypto Blue Chip - 5 9.25% Buy DeFi Tracker 8.80% Buy AI Tracker 8.14% Buy TOP COINS (₹) XRP 281 ( 10.77% ) Buy Ethereum 299,123 ( 10.16% ) Buy BNB 62,067 ( 3.89% ) Buy Tether 86 ( 0.18% ) Buy Bitcoin 10,243,946 ( 0.07% ) Buy The CoinDCX research team echoed the positive outlook, noting that "while Bitcoin faces some upward pressure, Ethereum displays strength as it sustains above the $3,300 range." The firm added that tokens like FLOKI (up 26%), Curve DAO (up 16.2%), and BONK (up 14.6%) were among the top gainers, as investor interest broadened beyond Bitcoin. 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 » On-chain data indicates that realised profit from exchange-bound Bitcoin reached a record $9.3 billion, signalling increased selling activity near resistance levels. However, analysts suggest that this is part of a healthy consolidation phase rather than a reversal. Live Events Regulatory developments in the US added to market optimism. Shivam Thakral, CEO of BuyUcoin, said Bitcoin's rally past $118,000 came amid "euphoria around the regulatory push in the US," referring to President Trump's support for the Genius Act, which aims to introduce stablecoin regulation. Srinivas L, CEO of 9Point Capital, maintained a bullish medium-term view, pointing to strong ETF inflows and macroeconomic tailwinds. "As BTC consolidates near highs, we maintain our bullish view with a medium-term target of $127K intact," he said. Also read: Trump's World Liberty crypto tokens to become tradable With Bitcoin dominance under pressure and capital rotating into altcoins, traders are watching closely to see if Bitcoin can decisively reclaim the $120,000 level. Meanwhile, Ethereum's momentum and the surge in memecoins suggest that broader market enthusiasm remains intact—for now.
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Business Standard
4 days ago
- Business
- Business Standard
Bitcoin consolidates, ETH breaks out; analysts eye bullish altcoin cycle
Flagship cryptocurrency Bitcoin (BTC) continues to consolidate around $118,000 as demand for major altcoins picks up. At last check, Bitcoin was trading at $118,630, up 0.63 per cent, with a 24-hour trading volume of $71.41 billion, according to data from CoinMarketCap. Over the past 24 hours, BTC has fluctuated between $117,751 and $120,065. Its market capitalisation stood at $2.36 trillion, the highest among all cryptocurrencies. Vikram Subburaj, CEO of Giottus, believes the consolidation in Bitcoin's price is due to growing demand for other altcoins. Ethereum (ETH), for instance, has broken out of a consolidation zone against Bitcoin and recently crossed the $3,300 mark, with targets now set at $3,500. 'This implies a seasonal shift in money flows from Bitcoin to other major altcoins. This is usually a precursor to a full-blown alt-season, which could mark the end of this bullish cycle over the next 6–9 months,' said Subburaj. For this cycle to unfold, he believes Bitcoin needs to maintain a bullish trajectory, especially as macroeconomic and tariff-related cues improve. Echoing similar views, Edul Patel, Co-founder and CEO of Mudrex, said Ethereum is currently outperforming after confidently breaching the $3,000 level. At last check, ETH was trading at $3,377.86, up 7.64 per cent over the previous day. Ethereum has fluctuated between $2,379.57 and $2,481.22 in the past 24 hours. Patel noted that Ether futures open interest hit a record high on Wednesday — a signal of strong bullish sentiment that is prompting traders to aim for higher price targets. 'ETH's strength suggests a shift in momentum within the broader crypto market,' said Patel. From a technical perspective, Patel sees the next resistance for Bitcoin between $124,000 and $126,000, while $113,000 remains a key support level. Among other altcoins, the top gainers for the day include FLOKI, which rose over 26 per cent, followed by Curve DAO Token with a gain of over 16.2 per cent, BONK up 14.64 per cent, and SPX6900 and Fartcoin, each up over 11 per cent. On the other hand, dropped by over 17 per cent, followed by Pudgy Penguins, down over 8.3 per cent, and SEI, which fell by 7.36 per cent, according to the CoinDCX research team. The overall market sentiment, analysts said, remains bullish despite interim bearish movements.
