Latest news with #DeltaExchange
India Today
3 days ago
- Business
- India Today
3 key reasons behind Bitcoin's record high today
Bitcoin surprised everyone on Wednesday by hitting a new record high of $111,988.90, only a whisker away from the $112,000 mark. Just a few weeks ago, the world's biggest cryptocurrency was struggling to gain ground after market jitters sparked by US President Donald Trump's tariff policy shook investor the time of writing, Bitcoin is trading at $111,019.74, rising by 2.27% over the past day. The last record was set on May 22 when it briefly touched $111,970. Since then, Bitcoin has had a bumpy ride, but it seems to be back with a what's behind this fresh jump? A mix of reasons seems to have given Bitcoin the boost it INVESTORS AND ETFSFirst, big investors and institutions have been putting more money into Bitcoin. There's also been a steady flow of funds into new Bitcoin Exchange-Traded Funds (ETFs), making it easier for people to buy into the crypto Donald Trump's win, these funds have pulled in loads of new money. BlackRock's iShares Bitcoin Trust alone has attracted over $40 billion so far, more than any other ETF in the last ten years, as per to Pakaj Balani, CEO & Co-Founder, Delta Exchange, "Over $1 billion has flowed into U.S. spot Bitcoin ETFs since late June. BlackRock's IBIT has accumulated over 700,000 BTC, representing 3.33% of Bitcoin's total supply. Companies are steadily adding Bitcoin to their balance sheets, following the path set by MicroStrategy, signaling deeper corporate alignment with crypto."POSITIVE REGULATORY OUTLOOKThere's also fresh hope on the regulation front. The Trump administration's friendly stand on crypto has lifted spirits. Back in March, President Trump signed an order for a 'Strategic Bitcoin Reserve' to make Bitcoin part of US addition, the Senate recently made progress on new stablecoin rules, and Coinbase, a big crypto exchange, has now joined the S&P 500 index, adding more trust in the sector. All this has made investors feel more confident about putting money into ECONOMIC TRENDS Broader factors are helping too. Easing tensions between the US and China and a fresh Moody's downgrade of US debt have pushed some investors to see Bitcoin as a safer place for their put, while crypto markets are always unpredictable, this record high has once again put Bitcoin in the spotlight. Traders and investors will now be watching closely to see if this rally can hold steady or if the price will slip back again, as it often has in the now, Bitcoin holders are enjoying the ride, and hoping this is just the beginning of another big bull run.- EndsMust Watch
Economic Times
01-07-2025
- Business
- Economic Times
Bitcoin trades near $107k ahead of U.S. tariff deadline; Hyperliquid, Avalanche fall up to 5%
TIL Creatives Bitcoin hovered around $107,000 amid investor caution ahead of the U.S. tariff deadline. The cryptocurrency market traded mostly lower on Tuesday, with Bitcoin hovering near $107,000 as investors remained cautious ahead of the July 9 U.S. tariff deadline. Broader market sentiment was mixed, with several altcoins registering sharp losses. As of 11:50 am IST, Bitcoin was down 1.2% at $106,984 after touching an intraday high of $108,317. Ethereum, the second-largest digital asset, fell 1.7% to $2,460. According to CoinMarketCap, the total global crypto market capitalisation dipped 1.12% to $3.3 trillion. Altcoin performance was uneven. XRP, Solana, Tron, and Monero gained up to 1.5%, while BNB, Dogecoin, Cardano, Hyperliquid, Chainlink, Avalanche, Litecoin, and Shiba Inu dropped as much as 5.5%.Vikram Subburaj, CEO of Giottus, said Bitcoin is holding steady around $107,000 as traders weigh the upcoming July 9 U.S. tariff decision, when a 90-day suspension period ends. 'Despite the cautious undertone, derivatives activity suggests underlying bullish pressure. Perpetual funding rates have flipped positive across major exchanges, indicating a build-up in leveraged longs,' he data shows a cluster of short positions near $107,500—an area seen as a critical inflection point. A breach could trigger a squeeze towards $111,000. While Bitcoin recently closed its highest monthly candle ever, signs of short-term weakness have emerged, said Riya Sehgal, Research Analyst at Delta Exchange. 'The price structure has turned fragile post-June 30, with lower highs and lows, and it's now trading below its 21- and 51-day simple moving averages. The $108,000 breakout attempt failed, with immediate support seen at $106,800–$106,500,' she meanwhile, is hovering near its 21-day SMA. A drop below the 51-day SMA ($2,466) could signal further investor confidence appears firm. On June 30, Bitcoin saw inflows of $102 million, with BlackRock purchasing 1,040 BTC. Ethereum added $31.8 million in inflows, while broader sentiment was supported by Bloomberg assigning 95% approval odds for ETFs tied to XRP, Solana, and Litecoin. Sathvik Vishwanath, Co-Founder and CEO of Unocoin, said Bitcoin's current consolidation near $107,000 reflects a recovery from recent dips below $100,000, supported by institutional demand and whale accumulation. 'A decisive breakout above $110,000–112,000 could propel BTC toward $125,000. Failure to break out might lead to a retest of the $100,000 mark,' he said. Vishwanath added that ETF inflows and expectations of U.S. Fed rate cuts are driving long-term bullish sentiment, though geopolitical risks and short-term volatility remain CoinDCX Research Team echoed the mixed outlook. 'Bitcoin continues to consolidate below key resistance, showing rising bearish pressure, while Ethereum is losing momentum. However, altcoins like XRP, BNB, SOL, and TRX are showing relative strength,' the team Cash and Algorand rose over 4%, while Pudgy Penguins and Four gained 3.3% and over 2%, respectively. On the downside, SPX6900 dropped more than 11%, Maple Finance fell 9.4%, and DeXe slid 8.5%.Despite the price correction, trading volumes remained elevated—up nearly 20%.Among major developments, American Bitcoin Corp., backed by Donald Trump's sons and mining firm Hut 8, raised $215 million to acquire more Bitcoin. Germany's largest banking group, Sparkassen, also announced plans to launch crypto trading for retail investors by summer 2026. The U.S. Securities and Exchange Commission (SEC) recently acknowledged an amendment for Grayscale Digital's large-cap fund ETF conversion. Bloomberg also reported increasing odds of ETF approvals for spot XRP, SOL, and LTC. All eyes are now on Federal Reserve Chair Jerome Powell's speech later today (7 PM IST), which could drive fresh volatility across financial markets. Most major banks expect interest rate cuts ranging from 25 to 100 basis points starting this July, with only a few forecasting no cuts in 2025.(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
01-07-2025
- Business
- Time of India
Bitcoin trades near $107k ahead of U.S. tariff deadline; Hyperliquid, Avalanche fall up to 5%
The cryptocurrency market traded mostly lower on Tuesday, with Bitcoin hovering near $107,000 as investors remained cautious ahead of the July 9 U.S. tariff deadline . Broader market sentiment was mixed, with several altcoins registering sharp losses. As of 11:50 am IST, Bitcoin was down 1.2% at $106,984 after touching an intraday high of $108,317. Ethereum , the second-largest digital asset, fell 1.7% to $2,460. According to CoinMarketCap, the total global crypto market capitalisation dipped 1.12% to $3.3 trillion. Altcoin performance was uneven. XRP, Solana, Tron, and Monero gained up to 1.5%, while BNB, Dogecoin, Cardano, Hyperliquid, Chainlink, Avalanche, Litecoin, and Shiba Inu dropped as much as 5.5%. Crypto Tracker TOP COIN SETS NFT & Metaverse Tracker 3.58% Buy Crypto Blue Chip - 5 0.80% Buy DeFi Tracker -0.65% Buy Web3 Tracker -2.66% Buy AI Tracker -3.07% Buy TOP COINS (₹) XRP 190 ( 1.74% ) Buy BNB 55,998 ( -0.01% ) Buy Solana 12,838 ( -0.3% ) Buy Ethereum 210,971 ( -0.31% ) Buy Bitcoin 9,158,534 ( -0.59% ) Buy Vikram Subburaj, CEO of Giottus, said Bitcoin is holding steady around $107,000 as traders weigh the upcoming July 9 U.S. tariff decision, when a 90-day suspension period ends. 'Despite the cautious undertone, derivatives activity suggests underlying bullish pressure. Perpetual funding rates have flipped positive across major exchanges, indicating a build-up in leveraged longs,' he noted. 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 » Liquidity data shows a cluster of short positions near $107,500—an area seen as a critical inflection point. A breach could trigger a squeeze towards $111,000. While Bitcoin recently closed its highest monthly candle ever, signs of short-term weakness have emerged, said Riya Sehgal, Research Analyst at Delta Exchange. 'The price structure has turned fragile post-June 30, with lower highs and lows, and it's now trading below its 21- and 51-day simple moving averages. The $108,000 breakout attempt failed, with immediate support seen at $106,800–$106,500,' she said. Ethereum, meanwhile, is hovering near its 21-day SMA. A drop below the 51-day SMA ($2,466) could signal further consolidation. Still, investor confidence appears firm. On June 30, Bitcoin saw inflows of $102 million, with BlackRock purchasing 1,040 BTC. Ethereum added $31.8 million in inflows, while broader sentiment was supported by Bloomberg assigning 95% approval odds for ETFs tied to XRP, Solana, and Litecoin. Sathvik Vishwanath, Co-Founder and CEO of Unocoin, said Bitcoin's current consolidation near $107,000 reflects a recovery from recent dips below $100,000, supported by institutional demand and whale accumulation. 'A decisive breakout above $110,000–112,000 could propel BTC toward $125,000. Failure to break out might lead to a retest of the $100,000 mark,' he said. Vishwanath added that ETF inflows and expectations of U.S. Fed rate cuts are driving long-term bullish sentiment, though geopolitical risks and short-term volatility remain concerns. The CoinDCX Research Team echoed the mixed outlook. 'Bitcoin continues to consolidate below key resistance, showing rising bearish pressure, while Ethereum is losing momentum. However, altcoins like XRP, BNB, SOL, and TRX are showing relative strength,' the team said. Bitcoin Cash and Algorand rose over 4%, while Pudgy Penguins and Four gained 3.3% and over 2%, respectively. On the downside, SPX6900 dropped more than 11%, Maple Finance fell 9.4%, and DeXe slid 8.5%. Despite the price correction, trading volumes remained elevated—up nearly 20%. Among major developments, American Bitcoin Corp., backed by Donald Trump's sons and mining firm Hut 8, raised $215 million to acquire more Bitcoin. Germany's largest banking group, Sparkassen, also announced plans to launch crypto trading for retail investors by summer 2026. The U.S. Securities and Exchange Commission ( SEC ) recently acknowledged an amendment for Grayscale Digital's large-cap fund ETF conversion. Bloomberg also reported increasing odds of ETF approvals for spot XRP, SOL, and LTC. All eyes are now on Federal Reserve Chair Jerome Powell's speech later today (7 PM IST), which could drive fresh volatility across financial markets. Most major banks expect interest rate cuts ranging from 25 to 100 basis points starting this July, with only a few forecasting no cuts in 2025.
&w=3840&q=100)
Business Standard
23-06-2025
- Business
- Business Standard
Geopolitical jitters hit crypto: Bitcoin breaks $100k, Ethereum below $2.5k
Bitcoin (BTC) slipped below the psychological $100,000 mark for the first time in 45 days after the US military struck three nuclear sites in Iran, escalating the ongoing geopolitical conflict between Israel and Iran. The sudden escalation, analysts said, triggered widespread panic across the crypto market, resulting in over $1 billion in liquidations—primarily from overleveraged long positions. The negative sentiment spilled over into the broader crypto space, putting pressure on major altcoins as well. Ethereum (ETH), the second-largest cryptocurrency by market capitalisation, fell below the $2,500 mark, reflecting broader investor caution. Market analysts expect volatility in the crypto sector to persist amid heightened geopolitical risks and fragile investor sentiment. Although Bitcoin has since rebounded from its intraday lows, it remains under pressure. Last check, BTC was trading at $101,536.97, down 1.26 per cent, with a 24-hour trading volume of $62.46 billion, according to CoinMarketCap. The cryptocurrency has fluctuated between $98,286.21 and $102,991.74 in the past 24 hours. Experts weigh in Riya Sehgal, research analyst, Delta Exchange, attributed the price drop to the US military strikes and said that the current bounce of Bitcoin remains weak. "Market structure shows a short-term downtrend with lower highs and lows; possible bear flag forming," said Sehgal. Edul Patel, Co-founder and CEO of Mudrex, on the other hand, remains optimistic and said he believes that Bitcoin is on a recovery path, rebounding from weekend lows as broader markets attempt to regain footing following Middle East tensions. Positive signals, like Strategy hinting at fresh BTC accumulation and Texas passing the Strategic Bitcoin Reserve bill, Patel said, have helped sustain market sentiment. Notably, on-chain data shows long-term holders stepping in while short-term sellers retreat. "Historically, this kind of shift tends to happen near market bottoms, indicating a trend reversal in the market," said Patel. At current levels, Bitcoin, Patel said, faces immediate resistance at $105,400, with strong support building around the $100,000 level. Meanwhile, for Bitcoin, Sehgal sees support at $98,000, next at $96,500–95,000, while resistance is placed at $102,200–103,000 levels. Ethereum (ETH) finds support at $2,120 levels Ethereum (ETH) too faced selling pressure, thus slipping below the key $2,500 mark and hitting $2,120. Last check, it was seen trading at $2,249.62, down 1.6 per cent, with a trading volume of $24.2 billion. Ethereum, Sehgal said, is consolidating in a bearish pennant and has underperformed Bitcoin. At the current levels, the resistance for Ethereum, Sehgal said, is placed at $2,260–2,280, while support lies at $2,120, next at $2,050–2,000. Altcoins, especially small caps and AI tokens, dropped 17–20 per cent this week. Despite a 9-day BTC ETF inflow streak, momentum, analysts said, remains weak.
New Indian Express
13-06-2025
- Business
- New Indian Express
Crypto sees 10.3% surge in May; second half of 2025 remains optimistic
BANGALURU: Despite uncertainty in global trade policies, the crypto market maintained its upward momentum in May 2025 as it gained 10.3% month-on-month, according to Binance Research, the research and analysis arm of Binance. Bitcoin performed strongly as it surged 11.1% in May and reached an all-time high of $111,970 before experiencing a slide for the fourth day in a row on Friday. Riya Sehgal, Research Analyst, Delta Exchange said Bitcoin's breakdown below the $105K–$106K support zone and rejection at $110.5K confirm a short-term trend reversal. Price structure shows a clean lower high and lower low, with $103K under pressure. A failure here exposes $101.5K and $100K. "Ethereum is showing relative weakness, retracing from $2,860 to $2,500, breaking below recent support at $2,640. Structure invalidated, with downside risk toward $2,460 and $2,360 if $2,500 fails to hold. The sell-off follows geopolitical escalation in the Middle East, triggering over $1.4B in liquidations, predominantly long positions. Crypto moved in tandem with broader risk-off sentiment, while oil surged over 7%. Despite near-term technical weakness, ETF flows remain constructive. BlackRock's spot ETFs added 2,650 BTC and 36,640 ETH on June 12," he added. On Friday, Bitcoin was trading below $1,05,000, down nearly 1% over the last 24 hours.
