Bitcoin Price Remains Above $68,000, Most Altcoin Prices Rise After US Fed Keeps Key Rates Stable

Bitcoin has been trading sideways for days, with the value of the popular cryptocurrency remaining below the $70,000 mark (around Rs. 58.4 lakh). The value of the world’s most used digital asset grew by 0.66% on Thursday. On international exchanges like CoinMarketCap and Coinbase, Bitcoin is currently trading at $68,105 (around Rs. 56.8 lakh) and remains subject to fluctuations. On the other hand, Bitcoin is now worth around $72,005 (around Rs. 60 lakh) on Indian exchanges like WazirX and CoinDCX.

“Over the past 24 hours, the cryptocurrency market has experienced volatility following the release of US Consumer Price Index (CPI) data, which came in lower than expected. This initially led to a market pump, but prices soon backtracked following the FOMC’s announcement that the Fed funds rate would remain constant. For BTC, holding above the $67,000 (around Rs. 55.9 lakh) level is crucial. maintain the uptrend,” CoinDCX’s markets desk told Gadgets360.

Ether the price increased by 0.30% in the last 24 hours. As per CoinMarketCapEther is trading at $3,509 (around Rs. 2.93 lakh) on foreign exchanges and $3,112 (around Rs. 2.6 lakh) on exchanges in India.

“Despite the impending launch of Ether Exchange Traded Funds (ETFs) in the US, the price has remained below $3,750 (around Rs. 3.13 lakh) for the past three days. Some blame the lack of bullish momentum of ETH to the uncertainty surrounding the timing of regulatory filings for individual S-1 funds As indicated by derivatives metrics, Ether investor optimism has fallen to its lowest point in three weeks,” ZebPay Trade Desk told Gadgets360. “ETH has strong support at $3,450 (around Rs. 2.88 lakh) while $3,700 (around Rs. 3.09 lakh) will now act as resistance for the asset.”

On Thursday, some altcoins also joined BTC and ETH in the profitable part of the cryptocurrency chart. These include Binance coin, Solana, Currency in USD, RippleAND Cardan.

Likewise, the prices of Avalanche, Shiba Inu, Polka dot, Chain shirt, Close to the protocol, PolygonAND Litecoin it also increased on Thursday.

Only a handful of cryptocurrencies that have recorded losses, such as Bind, Dogemoneta, Tron, Leo, Brain trustAND Value circuits they marked their names, as per Crypto price tracker by Gadgets360.

The overall cryptocurrency market capitalization increased by 1.40% in the last 24 hours. According to CoinMarketCap, the current valuation of the cryptocurrency industry currently stands at $2.47 trillion (approximately Rs. 2,06,31,292 crore). Currently, Bitcoin’s dominance of the cryptocurrency industry valuation stands at 54.2%. Ether holds a dominant position on the market of 17.2%, leaving the rest to the other altcoins.

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